Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) The Secretary must:
(a) either:
(i) if an approved participant is an endorsed charitable institution that has elected to receive a tax offset certificate -- issue a tax offset certificate as set out in subregulation (2); or
(ii) if an approved participant is an endorsed charitable institution that has not elected to receive a tax offset certificate -- pay the incentive for each allocation; or
(b) for other approved participants -- issue a tax offset certificate as set out in subregulation (2); or
(c) pay the amount of incentive the approved participant is eligible to receive, or issue a tax offset certificate for the amount that the approved participant is eligible to receive, in accordance with the following table, if the approved participant is:
(i) an endorsed charitable institution for part of an NRAS year; and
(ii) an otherwise eligible approved participant for part of the same NRAS year.
|
Item |
If an approved participant ... |
the Secretary must ... |
|
1 |
(a) changes from an endorsed charitable institution to an otherwise eligible approved participant; and (b) as an endorsed charitable institution, elects to receive a tax offset certificate |
issue a tax offset certificate for the NRAS year |
|
2 |
(a) changes from an endorsed charitable institution to an otherwise eligible approved participant; and (b) as an endorsed charitable institution, does not elect to receive a tax offset certificate |
(a) for the period that the approved participant was an endorsed charitable institution -- pay the incentive apportioned for that period; and (b) for the period that the approved participant was an otherwise eligible approved participant -- issue a tax offset certificate apportioned for that period |
|
3 |
(a) changes from an otherwise eligible approved participant to an endorsed charitable institution; and (b) as an endorsed charitable institution, elects to receive a tax offset certificate |
issue a tax offset certificate for the NRAS year |
|
4 |
(a) changes from an otherwise eligible approved participant to an endorsed charitable institution; and (b) as an endorsed charitable institution, does not elect to receive a tax offset certificate |
(a) for the period that the approved participant was an otherwise eligible approved participant -- issue a tax offset certificate apportioned for that period; and (b) for the period that the approved participant was an endorsed charitable institution -- pay the incentive apportioned for that period |
(2) A tax offset certificate for subregulation (1) must contain the following:
(a) an identifying number;
(b) if applicable -- identification as 'an amended, replacement certificate';
(c) the name and any applicable Australian Business Number or Australian Company Number of the approved participant;
(d) the date of issue of the certificate (being the date the Secretary approves the certificate showing the amount of tax offset);
(e) the NRAS year to which the certificate relates;
(f) the total National Rental Affordability Scheme Tax Offset covered by the certificate;
(g) a listing of each dwelling covered by the certificate and the incentive determined for each dwelling for the NRAS year;
(h) any offset, variation or apportionment made to the Tax Offset and the NRAS year to which it relates.
Note 1 Regulations 28 and 30 also contain information about apportionment, variation and offset of incentive.
Note 2 References to an amount may include zero.
Note 3 One certificate may relate to multiple approved rental dwellings and those dwellings may be associated with different joint ventures to which the approved participant is a party.
AustLII: Copyright Policy
| Disclaimers
| Privacy Policy
| Feedback