Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-10 - FINANCIAL TRANSACTIONS  

Division 250 - Assets put to tax preferred use  

Subdivision 250-B - When this Division applies to you and an asset  

Predominant economic interest

SECTION 250-110   250-110   Predominant economic interest  


You lack a predominant economic interest in an asset at a particular time only if one or more of the following sections apply to you and the asset at that time:


(a) section 250-115 (limited recourse debt test);


(b) section 250-120 (right to acquire asset test);


(c) section 250-125 (effectively non-cancellable, long term arrangement test);


(d) section 250-135 (level of expected financial benefits test).


 

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