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  

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History

Div 380 inserted by No 130 of 2008, s 3 and Sch 1 item 7, applicable to assessments for the 2008-09 income year and later income years.

Former Div 380 repealed by No 77 of 2001 and inserted by No 54 of 1999.

Subdivision 380-A - National Rental Affordability Scheme Tax Offset  

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Subdiv 380-A inserted by No 130 of 2008, s 3 and Sch 1 item 7, applicable to assessments for the 2008-09 income year and later income years.

NRAS certificates issued to partnerships and trustees

SECTION 380-18  

380-18   Elections by NRAS approved participants that are partnerships or trustees - special rule for partnerships and trustees  

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For the purposes of sections 380-15 and 380-20 to 380-30 (which apply if a partnership or the trustee of a trust derives NRAS rent), for each *NRAS dwelling:

(a) from which the electing member *derived *NRAS rent during the *NRAS year; and

(b) that is covered by the *NRAS certificate; and

(c) from which a partnership or trust that is a *member of the *NRAS consortium derived rent during the NRAS year;

treat the following proportion of the NRAS rent as being NRAS rent derived during the NRAS year by the member mentioned in paragraph (c):

Member ' s rent Total rent

where:

member ' s rent
has the same meaning as in subsection 380-14B(2) .

total rent
has the same meaning as in subsection 380-14B(2) .

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S 380-18 inserted by No 62 of 2011, s 3 and Sch 3 item 6, applicable to assessments for: (a) the 2010-11 income year; and (b) later income years.

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