Tax Laws Amendment (2011 Measures No. 5) Act 2011 (62 of 2011)

Schedule 3   National Rental Affordability Scheme

Part 3   Definitions

Income Tax Assessment Act 1997

14   Subsection 995-1(1) (at the end of the definition of member )

Add:

; and (e) in relation to an *NRAS consortium - means:

(i) an entity (other than in the capacity as a partner of a partnership) that is a party to the contractual *arrangement, or to one of the contractual arrangements, that established the NRAS consortium (whether or not the entity was a party to the arrangement when the NRAS consortium was established); or

(ii) a partnership, if all of the partners of the partnership are parties to the contractual arrangement, or to one of the contractual arrangements, that established the NRAS consortium (whether or not the partners were parties to the arrangement when the NRAS consortium was established).