NRAS Facts and Figures
Key Facts About NRAS
What is NRAS?
- NRAS stands for the National Rental Affordability Scheme
- The Australian Government made their pledge to the scheme and it started on July 1st 2008
- NRAS is available in all Australian capital cities and some regional areas
What are the objectives of NRAS?
- To deliver approximately 50,000 rental dwellings for low to middle income families by 2016
- NRAS is an alternative to government housing, whereby private property owners can benefit from a tax incentive from a tax incentive and provide quality housing below market rental rates
- The scheme aims to support those families who have an annual income of less than $108,169
What are the benefits?
- Private property owners will benefit from:
- a positive cash flow investment
- tax incentives (either being a refundable tax offset or a grant)
- good tenants who have been assessed against an eligibility criteria
- Properties can be purchased under a self-managed superannuation fund
- Tenants benefit from having access to new properties, 20% below the average rental market
What are the considerations?
- The property is committed to the Scheme for a 10 year period
- It can be sold, however the new purchaser must agree to apply with the NRAS obligations
- The property must be new or not previously used as a residence
- Multi-storey developments can consist of a combination of NRAS and non-NRAS apartments
Would like to know more or invest in a NRAS property?
- Contact Dovetail Developments on 1800 220 148