NRAS

The National Rental Affordability Scheme, shortened to NRAS, was launched in July 2008 by Treasurer Wayne Swann and Housing Minister Tanya Plibersek. The program creates a new class of investment property which is fully freehold owned by the investor, while being approved by the Government Agents for rental to qualifying families at a reduced rent (less 25% in Queensland) in return for significant annual tax credits and a ten year membership of the program. The stated objective is to deliver 50,000 rental dwellings over four years nationally. It is estimated by the Government that over 1.5 million households will be eligible for tenancies under the NRAS program, giving the property purchasers a high level of secure rental demand.

LINK to Department of Families Housing and Community Services
LINK to Queensland Affordability Housing Consortium

NEW HOUSES, TOWN HOUSES & UNITS

Qualifying properties range from new house and land packages to new townhouses and units which are located throughout Queensland. All properties are required to be built to the highest standards including all mod cons and include landscaping, driveways etc, for immediate accommodation. They are built up to a standard, rather than down to a “price” and as such represent a good long term investment.

FEDERAL & STATE GOVERNMENT SUPPORT WORTH $8.600 PER YEAR

A combination of Tax credits of $6,000 from the Federal Government and a $2,000 Tax Credit from the Queensland Government, per house, are paid annually and indexed to the CPI of rental costs. There was a recent adjustment as a result of CPI increases which increased the credit from $8,000 to $8,600.

TEN YEAR GOVERNMENT COMMITMENT

Investors purchasing NRAS properties gain the benefit of a ten year Government commitment to the program and the support of head leasing arrangements with Government appointed management organisations, who are responsible for the individual tenants and rental payments.

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