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  

Subdivision 380-A - National Rental Affordability Scheme Tax Offset  

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  


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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