INCOME TAX ASSESSMENT ACT 1997 - SECT 380.18 Elections by NRAS approved participants that are partnerships or trustees--special rule for partnerships and trustees
INCOME TAX ASSESSMENT ACT 1997 - SECT 380.18
Elections by NRAS approved participants that are partnerships or trustees--special rule for partnerships and trusteesFor 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):
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).