Document ID: chunk:federal_register_of_legislation:C2025C00029:section:7:p34
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 7 (pt 34/34)
Character Range: 5421934–5424204

rent flows indirectly under this subsection is entitled to a tax offset under section 380‑15 and the NRAS rent does not flow indirectly through the trustee to another entity.
 (5) *NRAS rent flows indirectly through an entity (the first entity) to another entity if, and only if:
 (a) the other entity is the focal entity in an item of the table in section 380‑30 in relation to the NRAS rent; and
 (b) that focal entity's *share of the NRAS rent is based on the first entity's share of the NRAS rent as an intermediary entity in that or another item of the table.

380‑30  Share of NRAS rent

Object of section
 (1) The object of this section is to ensure that:
 (a) *NRAS rent derived by a partnership or the trustee of a trust is allocated notionally amongst entities who *derive benefits from that NRAS rent; and
 (b) that allocation corresponds with the way in which those benefits were derived.
 (2) An entity's share of *NRAS rent is an amount notionally allocated to the entity as its share of the NRAS rent, whether or not the entity actually receives any of that NRAS rent.
 (3) That amount is equal to the entity's share of the *NRAS rent as the focal entity in column 3 of an item of the table.
Note: An entity's share of the NRAS rent is based on the share of the NRAS rent of each preceding intermediary entity through which the NRAS rent flows, starting from the intermediary entity to whom the NRAS rent is paid.
 This means that in some cases (see items 2 and 4 of the table), more than one item of the table will need to be applied to work out the share of the NRAS rent of an ultimate recipient of the NRAS rent.

Share of NRAS rent
Item                Column 1                                                                                                                 Column 2                                                                                                                                     Column 3
                    For this intermediary entity and this focal entity:                                                                      The intermediary entity's share of the NRAS rent is:                                                                                         The focal entity's share of the NRAS rent is: