Income Tax Assessment Act 1997
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Hide history noteSECTION 380-14 Members of NRAS consortiums - partnerships and trustees 380-14(1)
This section applies if:
(a) the *Housing Secretary issues an *NRAS certificate in relation to an *NRAS year to the *NRAS approved participant of an *NRAS consortium; and
(b) the NRAS certificate covers one or more *NRAS dwellings; and
(c) a *member of the NRAS consortium, other than the NRAS approved participant, *derives *NRAS rent during the NRAS year from any of those NRAS dwellings; and
(d) the member is a partnership or a trustee of a trust.
380-14(2)
For the purposes of sections 380-15 to 380-20 , assume that:
(a) the *member has been issued with an *NRAS certificate in relation to the *NRAS year; and
(b) the NRAS certificate covers each *NRAS dwelling:
(i) covered by the NRAS certificate mentioned in paragraph (1)(b) of this section; and
(ii) from which the member *derives *NRAS rent during the NRAS year; and
(c) the amount stated in the NRAS certificate for each of those NRAS dwellings is the amount worked out using the formula in subsection 380-10(2) in relation to the NRAS dwelling for the NRAS year for the member.
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