Document ID: chunk:federal_register_of_legislation:C2011C00519:clause:1_1:p18
Version: federal_register_of_legislation:C2011C00519
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 18/20)
Character Range: 49425–52137

asset.

Certain financial benefits ignored when retesting

 (5) For the purposes of reapplying section 250‑135 to the asset, disregard *financial benefits provided before subsection (2) or (3) of this section ceased to apply to the asset.

Note: If:

(a) subsection (2) or (3) ceases to apply to the asset at a particular time under this subsection; and

(b) the asset is retested at that time against section 250‑135; and

(c) on the retesting, that section is found to apply to the asset at that time;

 subsection (3) will start to apply to the asset again from that time because paragraph (3)(b) will have been satisfied.

Clarification that retesting only required if you do something to increase value of expected benefits

 (6) To avoid doubt, subsection (2) or (3) does not cease to apply merely because the value of the *expected financial benefits in relation to the asset increase because of something other than action taken, or an omission made, by you (or a *connected entity) or a *member of the tax preferred sector.

Note: This subsection means that retesting under subsection (4) is not triggered by an increase in the value of expected financial benefits that happens because of external circumstances (circumstances external to activities and omissions of yours, your connected entities and members of the tax preferred sector).

Subdivision 250‑C—Denial of, or reduction in, capital allowance deductions

Table of sections

250‑145 Denial of capital allowance deductions
250‑150 Apportionment rule

250‑145  Denial of capital allowance deductions

 (1) If this Division applies to you and an asset at a particular time, any condition that needs to be satisfied for you to be able to deduct an amount under a *capital allowance provision in relation to:
 (a) a decline in the value of the asset; or
 (b) expenditure in relation to the asset;
is taken not to be satisfied at that time.

 (2) This section has effect subject to section 250‑150.

250‑150  Apportionment rule

 (1) This section applies if:
 (a) this Division applies to you and an asset that is *put to a tax preferred use; and
 (b) it is reasonable to expect that, during the *arrangement period for the *tax preferred use of the asset, particular *financial benefits will be provided to you (or a *connected entity); and
 (c) it is reasonable to expect that those financial benefits:
 (i) will be provided in relation to a use of the asset that is not that tax preferred use and is not a private use; or
 (ii) will be *provided in relation to that tax preferred use of the asset but will not be attributable, directly or indirectly, to financial benefits that are provided by *members of the tax preferred sector; and
 (d)