Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 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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