Pt 3-1 inserted by No 46 of 1998.
Div 116 inserted by No 46 of 1998.
S 116-65 substituted by No 58 of 2006, s 3 and Sch 3 item 1, applicable in relation to options exercised on or after 27 May 2005. S 116-65 formerly read:
SECTION 116-65 Disposal of a CGT asset the subject of an option
116-65 If you *dispose of a *CGT asset because another entity exercises an option you granted in relation to the asset, the *capital proceeds from the disposal include any payment you received for granting the option.
The payment can include giving property: see section 103-5.
This situation is an example of CGT event A1.
S 116-65 inserted by No 46 of 1998.