Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 250.15

    This Division applies to you and an asset at a particular time if:

  (a)   the asset is being * put to a tax preferred use; and

  (b)   the * arrangement period for the * tax preferred use of the asset is greater than 12 months; and

  (c)   * financial benefits in relation to the tax preferred use of the asset have been, will be or can reasonably be expected to be, * provided to you (or a * connected entity) by:

  (i)   a * tax preferred end user (or a connected entity); or

  (ii)   any * tax preferred entity (or a connected entity); or

  (iii)   any entity that is a foreign resident; and

  (d)   disregarding this Division, you would be entitled to a * capital allowance in relation to:

  (i)   a decline in the value of the asset; or

  (ii)   expenditure in relation to the asset; and

  (e)   you lack a * predominant economic interest in the asset at that time.