98
CurrentWorking out capital gains
Part 5Offences and civil penalties
Division 3Civil penalties
Subdivision CCivil penalties relating to residential land
98 Working out capital gains
For the purposes of this Subdivision, the amount of the capital gain that was made or would be made on the disposal by a person (the offender) of an interest to another person (the third party) is the higher of the following amounts:
(a)
if an agreement has been entered into in relation to disposing of the interest to the third party—the difference between:
(i)
the consideration for the acquisition by the third party; and
(ii)
the amount for which the offender purchased the interest;
(b)
in any case—the difference between:
(i)
the market value of the interest; and
(ii)
the amount for which the offender purchased the interest.
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