Foreign Acquisitions and Takeovers Act 1975

PART 5 - OFFENCES AND CIVIL PENALTIES  

Division 3 - Civil penalties  

Subdivision C - Civil penalties relating to residential land  

SECTION 98  

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.