Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 380.35

                   A payment made to you, or a * non-cash benefit provided to you, (whether directly or indirectly, such as through an * NRAS consortium of which you are a * member) 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.

Table of Subdivisions

             Guide to Division 385

385-E    Primary producer can elect to spread or defer tax on profit from forced disposal or death of live stock

385-F    Insurance for loss of live stock or trees

385-G   Double wool clips

385-H   Rules that apply to all elections made under Subdivisions 385-E, 385-F and 385-G

Guide to Division 385