(a) you agree for consideration that when property comes into existence you will hold it on trust; and
(b) at the time of the agreement, no potential beneficiary under the trust has a beneficial interest in the rights created by the agreement.
(2) The time of the event is when you made the agreement.
(3) You make a capital gain if the * market value the property would have had if it had existed when you made the agreement is more than any * incidental costs you incurred that relate to the event. You make a capital loss if that market value is less .
(4) The costs can include giving property: see section
103 - 5. However, they do not include an amount you have received as *
recoupment of them and that is not included in your assessable income, or an
amount to the extent that you have deducted or can deduct it.