(1) You lack a predominant economic interest in an asset at a particular time if:
(a) any * arrangement that relates to:
(i) the * tax preferred use of the asset; or
(ii) the * financial benefits to be * provided by the * members of the tax preferred sector in relation to the tax preferred use of the asset;
is * effectively non - cancellable (see section 250 - 130); and
(b) the * arrangement period for the tax preferred use of the asset is:
(i) greater than 30 years; or
(ii) if the arrangement period is less than or equal to 30 years--75% or more of that part of the asset's * effective life that remains when the tax preferred use of the asset starts.
(2) Disregard section 40 - 102 in working out the
asset's * effective life for the purposes of subparagraph
(1)(b)(ii).