Document ID: chunk:federal_register_of_legislation:C2011C00519:clause:1_1:p10
Version: federal_register_of_legislation:C2011C00519
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 10/20)
Character Range: 30426–33015

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 personal chattel (other than money or a money equivalent); and
 (b) gives a right to control the use of the asset (other than temporarily for the purpose of ensuring public health or safety, protecting the environment or continuing the supply of an essential service); and
 (c) is not a lease;
in the same way as it applies to a lease.

Note: Even if this section applies to treat an arrangement in relation to an asset as a lease, the requirements in section 250‑50 still need to be satisfied before an entity can be an end user of the asset.

Financial benefits in relation to tax preferred use

250‑85  Financial benefits in relation to tax preferred use of an asset

 (1) For the purposes of this Division, the *financial benefits provided in relation to a tax preferred use of an asset include (but are not limited to):
 (a) a financial benefit provided in relation to:
 (i) bringing the asset into a state, condition or location in which it can be *put to the tax preferred use; or
 (ii) the start of the *tax preferred use of the asset; and
 (b) a financial benefit provided in relation to the end of the tax preferred use of the asset; and
 (c) a financial benefit provided in relation to the termination or expiration of an *arrangement that deals with:
 (i) the tax preferred use of the asset; or
 (ii) the provision of financial benefits in relation to the tax preferred use of the asset; and
 (d) a financial benefit provided in relation to the purchase or acquisition of the asset by, or transfer of the asset to, the *tax preferred end user (or a *connected entity).

 (2) Without limiting paragraph (1)(b), if the asset has a *guaranteed