Document ID: chunk:federal_register_of_legislation:C2008A00130:clause:1_4
Version: federal_register_of_legislation:C2008A00130
Segment Type: clause
Provision Reference: sch 1 cl 4
Character Range: 18012–19810

4                   the trustee of a trust is the intermediary entity and the trustee or a beneficiary of the trust is the focal entity if:  the amount worked out under column 3 of:                                                                                                     so much of the amount worked out under column 2 of this item as is attributable to the focal entity in this item, having regard to the trust deed and any other relevant circumstances
                    (a) *NRAS rent *flows indirectly to the trustee as a partner in a partnership or as a beneficiary of another trust; and  (a) item 1 or 2 of this table where the trustee, as a partner, is the focal entity in that item; or
                    (b) the trustee or beneficiary has, in respect of the trust, a share amount mentioned in subsection 380‑25(3) or (4)     (b) item 3 or a previous application of this item where the trustee, as a beneficiary, is the focal entity in that item

Note: In item 3 or 4 of the table, the trustee of a trust can be both the intermediary entity and the focal entity in the same item.

Subdivision 380‑B—Payments made in relation to the National Rental Affordability Scheme etc.

Table of sections

380‑35 Payments made and non‑cash benefits provided in relation to the National Rental Affordability Scheme

380‑35  Payments made and non‑cash benefits provided in relation to the National Rental Affordability Scheme

  A payment made to you or a *non‑cash benefit provided to you by:
 (a) a Department of a State or Territory; or
 (b) a body (whether incorporated or not) established for a public purpose by or under a law of a State or Territory;
in relation to your participation in the National Rental Affordability Scheme is not assessable income and is not *exempt income.