(1) A * member of an * NRAS consortium is entitled to a * tax offset for an income year if:
(a) the * Housing Secretary issues an * NRAS certificate in relation to an * NRAS year to the * NRAS approved participant of the NRAS consortium; and
(b) the income year commences in the NRAS year; and
(c) the member is an individual, a * corporate tax entity or a * superannuation fund.
(2) The amount of the * tax offset is the total of the amounts worked out using the following formula for each * NRAS dwelling:
(a) covered by the * NRAS certificate; and
(b) from which the * member * derives * NRAS rent during the * NRAS year:
(3) Treat the references in subsection (2) to the * NRAS year as being references to a period that occurs during the NRAS year, if the * NRAS certificate is apportioned for the period.