Income Tax Assessment Act 1997



Division 118 - Exemptions  

Subdivision 118-B - Main residence  

Compulsory acquisitions of adjacent land only

SECTION 118-260   Partial exemption rules  


If section 118-245 applies to a *CGT event, the amount of the *capital gain or *capital loss that you would have made apart from this section from the CGT event is increased by an amount that is reasonable having regard to the following:

(a) the extent that the *dwelling was not a main residence for the relevant period;

(b) the extent that the dwelling was used for the *purpose of producing assessable income during the relevant period.


In determining what is a reasonable increase, have regard to the principles in this Subdivision applicable to *CGT events happening in relation to a *dwelling or your *ownership interest in it.


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