28AElections to receive incentive as tax offset certificate

#### 28A Elections to receive incentive as tax offset certificate (1) This regulation applies to an entity if the entity is: (a) an applicant, or an approved participant, that is an endorsed charitable institution during an NRAS year; or (b) an approved participant that becomes an endorsed charitable institution during an NRAS year. (2) The entity may elect to receive an incentive to which the entity is entitled under this Division for an NRAS year as a tax offset certificate rather than as a payment. (3) The entity may make only one election in each NRAS year. (4) An election must be made in writing to the Secretary before the end of 31 December in an NRAS year. (5) However, if an approved participant becomes an endorsed charitable institution after 31 December in an NRAS year, the approved participant may make an election when the approved participant becomes an endorsed charitable institution. > Note: An election made by an approved participant as permitted by subregulation (5) will only apply in relation to an incentive to be received by the approved participant in an NRAS year beginning after the election was made (see subregulation 29(1)). (6) An entity that has made an election under subregulation (2) or (5) may revoke the election before the end of 31 December in an NRAS year. > Note: See regulation 29 in relation to the form in which an incentive is given.