Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 380 - National Rental Affordability Scheme  

Subdivision 380-A - National Rental Affordability Scheme Tax Offset  

NRAS certificates issued to individuals, corporate tax entities and superannuation funds

SECTION 380-5   Claims by individuals, corporate tax entities and superannuation funds  


Entitlement

380-5(1)    
An entity is entitled to a *tax offset for an income year if:


(a) the *Housing Secretary issues an *NRAS certificate in relation to an *NRAS year to the entity (other than in the entity ' s capacity (if any) as the *NRAS approved participant of an *NRAS consortium); and


(b) the income year begins in the NRAS year; and


(c) the entity is an individual, a *corporate tax entity or a *superannuation fund.

Amount

380-5(2)    
The amount of the entity ' s *tax offset is the amount stated in the *NRAS certificate.


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