INCOME TAX ASSESSMENT ACT 1997 - SECT 116.70 Option requiring both acquisition and disposal etc.

INCOME TAX ASSESSMENT ACT 1997 - SECT 116.70

  (1)   This section applies if:

  (a)   you granted, renewed or extended an option; and

  (b)   the option requires you both to * acquire, and to create (including grant or issue) or * dispose of, a * CGT asset.

  (2)   The option is treated as 2 separate options and half of the * capital proceeds from the grant, renewal or extension is attributed to each option.