Document ID: chunk:federal_register_of_legislation:C2011C00519:clause:1_1:p15
Version: federal_register_of_legislation:C2011C00519
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 15/20)
Character Range: 42282–44849

lease; and
 (d) the space within the property that is occupied by tenants who are *members of the tax preferred sector is less than half of the total space within the property that is either occupied by tenants or available to be occupied by tenants; and
 (e) the asset is *put to the tax preferred use wholly or principally in Australia; and
 (f) no 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).

250‑120  Right to acquire asset test

 (1) You lack a predominant economic interest in an asset at a particular time if, at that time:
 (a) the asset is to be transferred to a *member of the tax preferred sector after the end of the *arrangement period; and
 (b) the consideration for the transfer is not fixed as the *market value of the asset at the time of the transfer.

 (2) You also lack a predominant economic interest in an asset at a particular time if, at that time:
 (a) a *member of the tax preferred end user group has, or will have:
 (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; and
 (b) the consideration for the purchase, acquisition or transfer is not fixed as the *market value of the asset at the time of the purchase, acquisition or transfer.
To avoid doubt, this section 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.

250‑125  Effectively non‑cancellable, long term arrangement test

 (1) You lack a predominant economic interest in an asset at a particular time if:
 (a) any *arrangement that relates to:
 (i) the *tax preferred use of the asset; or
 (ii) the *financial benefits to be *provided by the *members of the tax preferred sector in relation to the tax preferred use of the asset;
  is *effectively non‑cancellable (see section 250‑130); and
 (b) the *arrangement period for the tax preferred use of the asset is:
 (i) greater than 30 years; or
 (ii) if the arrangement period is less than or equal to 30 years—75% or more of that part of the asset's *effective life that remains when the tax preferred use of the asset starts.

 (2) Disregard section 40‑102 in working out the asset's *effective