Document ID: chunk:federal_register_of_legislation:C2011C00519:clause:1_1:p4
Version: federal_register_of_legislation:C2011C00519
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 4/20)
Character Range: 16307–19031

The amounts referred to in paragraphs (1)(b) and (c) are indexed annually.

Note: Subdivision 960‑M shows you how to index amounts.

250‑35  Exceptions to section 250‑30

Debt interests

 (1) Section 250‑30 does not apply if the *arrangement (either alone or together with any arrangement in relation to the *tax preferred use of the asset or the provision of *financial benefits in relation to the tax preferred use of the asset) is a *debt interest.

 (2) In applying subsection (1), disregard subsection 974‑130(4).

Member of tax preferred sector having certain rights in relation to the asset

 (3) Section 250‑30 does not apply if:
 (a) a *member of the tax preferred sector has:
 (i) a right, obligation or contingent obligation to purchase or acquire the asset or a legal or equitable interest in the asset; or
 (ii) a right to require the transfer of the asset or a legal or equitable interest in the asset; or
 (iii) a residual or reversionary interest in the asset that will arise or become exercisable at or after the end of the *arrangement period; and
 (b) the consideration for the purchase, acquisition or transfer of the right, obligation or interest is not fixed as the *market value of the asset at the time of the purchase, acquisition or transfer.
To avoid doubt, this subsection does not apply to the asset merely because your interest in the asset is one that ceases to exist after the passage of a particular period of time.

Member of tax preferred sector providing financing

 (4) Section 250‑30 does not apply if a *member of the tax preferred sector provides financing, or support for financing, in relation to your interest in the asset (including by way of a loan, a guarantee, an indemnity, a security, hedging or undertaking to provide *financial benefits in the event of the termination of an *arrangement).

Finance leases, non‑cancellable operating leases, service concessions and similar arrangements

 (5) Section 250‑30 does not apply if an *arrangement in relation to the *tax preferred use of the asset, or the provision of *financial benefits in relation to the tax preferred use of the asset, is or involves:
 (a) a finance lease; or
 (b) a non‑cancellable operating lease; or
 (c) a service concession or similar arrangement;
that generally accepted accounting principles, as in force at the start of the *arrangement period, require to be included as an asset or a liability in your balance sheet.

Financial benefits irregular, not based on comparable market‑based rates or not reflecting value of tax preferred use of asset

 (6) Section 250‑30 does not apply if the *financial benefits that have been, or are to be provided, to you (or a *connected entity) by *members of