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In media release No 2011/024, issued 3 February 2011, the Assistant Treasurer and Minister for Financial Services and Superannuation, Bill Shorten, announced the release of exposure draft legislation and explanatory material to amend provisions in the tax law that relate to the National Rental Affordability Scheme (NRAS).

"The proposed legislation ensures that parties participating as part of a collective group can receive, tax free, the full amount of the NRAS incentive, as intended by the Government," Mr Shorten said.

The closing date for submissions is 4 March 2011.


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