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  • NRAS refundable tax offsets

    The Australian Government pays its contribution through refundable tax offsets. Eligible investors can claim it:

    • in their annual tax return
    • by lodging a short-form application if they are an income tax exempt entity who would not ordinarily lodge a tax return.

    Tax endorsed charitable institutions entitled to receive their incentive in the form of a grant do not claim this through the tax system. They receive the incentive from the Secretary of the DSS (the Housing Secretary).

    What is a refundable tax offset?

    Most tax offsets can only reduce the amount of tax you pay to zero – that is, if your tax offsets are greater than the amount of tax you are liable to pay, you do not get a refund of the excess amount. However, there are some exceptions to this general rule. These exceptions are classed as refundable tax offsets. The NRAS tax offset is a refundable tax offset. Refundable tax offsets can reduce the amount of tax you are liable to pay to an amount less than zero, which results in a refundable amount.

      Last modified: 11 Dec 2017QC 21519