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  • Definitions

    The following terms have been defined below:

    Corporate tax entity

    An entity is a corporate tax entity if the entity is a company, a corporate limited partnership, a corporate unit trust or a public trading trust in relation to the income year. Corporate tax entities can include non-profit entities that are taxable or income tax exempt.


    In working out whether you have derived an amount of ordinary income and, if so, when you derived it, you are taken to have received the amount as soon as it is applied or dealt with in any way on your behalf or as you direct.

    Income tax exempt entities

    This is an entity that is exempt from income tax. For example, an endorsed charitable institution or a non-profit entity that self-assesses is income tax exempt.

    Non-entity joint venture

    This is an arrangement that we are satisfied is both of the following:

    • a contractual arrangement under which two or more parties undertake an economic activity that is subject to the joint control of the parties
    • entered into to obtain individual benefits for the parties in the form of a share of the output of the arrangement rather than joint or collective profits for all the parties.

    NRAS consortium

    This is the mechanism by which a group of taxpayers collectively participating in NRAS each become entitled to an NRAS tax offset. An NRAS consortium is a consortium, joint venture or non-entity joint venture established by a contractual arrangement that facilitates the leasing of approved rental dwellings under NRAS.

    NRAS rent

    This is the rent derived in respect of a rental dwelling from renting it on an affordable housing basis under the NRAS for an income year.

    NRAS year

    The period 1 May to 30 April each year.

    Super fund

    This is a fund that is an indefinitely continuing fund and is a provident, benefit, superannuation or retirement fund or a public sector superannuation scheme.

      Last modified: 01 Jul 2022QC 21519