Income Tax Assessment Act 1997



Division 104 - CGT events  

Subdivision 104-F - Leases  

SECTION 104-120   Lessor pays lessee to get lease changed: CGT event F3  

CGT event F3 happens if a lessor incurs expenditure in getting the lessee's agreement to vary or waive a term of the lease. The lessor makes a capital loss equal to the amount of expenditure it incurred. (The expenditure can include giving property: see section 103-5 .)

The time of the event is when the term is varied or waived. Exception

However, this event does not apply to expenditure for a lease to which the lessor has chosen to apply section 104-115 .


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