Document ID: chunk:federal_register_of_legislation:C2025C00029:section:8:p19
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 8 (pt 19/30)
Character Range: 4208501–4211091

entity and connected entity
 (5) For the purposes of this section:
 (a) the *tax preferred use of an asset by an entity; and
 (b) the tax preferred use of the asset by a *connected entity of that entity;
are taken to constitute a single tax preferred use of the asset.

250‑70  New tax preferred use at end of arrangement period if tax preferred use continues
  If:
 (a) this Division applies to you and an asset because the asset is *put to a tax preferred use; and
 (b) the *arrangement period for the *tax preferred use of the asset ends on a particular date (the termination date); and
 (c) the asset continues to be put to the tax preferred use after the termination date;
the tax preferred use of the asset after the termination date is taken to be a separate and distinct tax preferred use of the asset from the tax preferred use of the asset before the termination date.
Note: This means, among other things, that there is a new arrangement period for the tax preferred use after the termination date and that the arrangement is retested under section 250‑15 against circumstances as they stand immediately after the termination date.

250‑75  What constitutes a separate asset for the purposes of this Division
 (1) This Division applies to:
 (a) an improvement to land; or
 (b) a fixture on land;
whether the improvement or fixture is removable or not, as if it were an asset separate from the land.
 (2) Whether a particular composite item is itself an asset or whether its components are separate assets is a question of fact and degree which can only be determined in the light of all the circumstances of the particular case.
Example 1: A car is made up of many separate components, but usually the car is an asset rather than each component.
Example 2: A floating restaurant consists of many separate components (like the ship itself, stoves, fridges, furniture, crockery and cutlery), but usually these components are treated as separate assets.
 (3) This Division applies to a renewal or extension of an asset that is a right as if the renewal or extension were a continuation of the original right.
 (4) This Division applies to an asset (the underlying asset) in which:
 (a) you have an interest; and
 (b) one or more other entities also have an interest;
as if your interest in the underlying asset were itself the underlying asset.

250‑80  Treatment of particular arrangements in the same way as leases
  This Division applies to an *arrangement that:
 (a) in substance or effect, depends on the use of a specific asset that is:
 (i) real property; or
 (ii) goods or a