INCOME TAX ASSESSMENT ACT 1997 - SECT 116.65 Disposal etc. of a CGT asset the subject of an option
INCOME TAX ASSESSMENT ACT 1997 - SECT 116.65
Disposal etc. of a CGT asset the subject of an option(a) you granted, renewed or extended an option to create (including grant or issue) or * dispose of a * CGT asset; and
(b) another entity exercises the option; and
(c) because of the exercise of the option, you create (including grant or issue) or dispose of the CGT asset.
(2) The * capital proceeds from the creation (including grant or issue) or disposal include any payment you received for granting, renewing or extending the option.
(3) The payment can include giving property: see section
103 - 5.