124-595
CurrentTreating parts of new right as separate assets
Chapter 3Specialist liability rules
Part 3-3Capital gains and losses: special topics
Division 124Replacement ‑ asset roll ‑ overs
Subdivision 124-JCrown leases
124-595 Treating parts of new right as separate assets
(1)
Each part of a *Crown lease or an estate in fee simple that is part of the new right is taken to be a separate *CGT asset to the extent that it relates to:
(a)
land to which a Crown lease (that was part of the original right) related where you *acquired the lease before 20 September 1985; and
(b)
land to which a Crown lease (that was part of the original right) related where you acquired the lease on or after 20 September 1985; and
(c)
other land.
(2)
You are taken to have *acquired each asset that is a separate *CGT asset because of paragraph (1)(a) before 20 September 1985.
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