4Definitions

4 Definitions

In this Act:

acquisition of property has the same meaning as in paragraph 51(xxxi) of the Constitution.

allocation, in relation to an incentive period, means an allotment to an approved participant of an entitlement to receive an incentive for a rental dwelling in relation to an NRAS year that falls within the incentive period if conditions are satisfied in relation to the rental dwelling.

constitutional corporation means a corporation to which paragraph 51(xx) of the Constitution applies.

incentive means:

(a) a National Rental Affordability Scheme Tax Offset; or
(b) an amount payable for an NRAS year.

Note: Paragraph (a)—for provisions relating to claiming the National Rental Affordability Scheme Tax Offset, see Division 380 of the Income Tax Assessment Act 1997.

incentive period means a 10 year period that starts on or after 1 July 2008.

investor, in relation to a rental dwelling covered by an allocation, means a person:

(a) who is the legal or beneficial owner of the rental dwelling; and
(b) who is not an approved participant in relation to the rental dwelling.

just terms has the same meaning as in paragraph 51(xxxi) of the Constitution.

National Rental Affordability Scheme means the scheme prescribed for the purposes of section 5.

NRAS year (short for National Rental Affordability Scheme year) means:

(a) the period beginning on 1 July 2008 and ending on 30 April 2009; and
(b) the year beginning on 1 May 2009 and later years beginning on 1 May.

rental dwelling means a dwelling for which rent is payable and includes:

(a) a part of a dwelling or building that is capable of being lived in as a separate residence; and
(b) a unit that is a dwelling; and
(c) any dwelling prescribed by the regulations to be a rental dwelling for the purposes of this definition;

but does not include a caravan, houseboat, another kind of mobile dwelling or any dwelling prescribed by the regulations not to be a rental dwelling for the purposes of this definition. Secretary means: (a) the Secretary of the Social Services Department; or (b) the Secretary of the Treasury Department. Social Services Department means the Department administered by the Minister administering the Paid Parental Leave Act 2010.