The National Rental Affordability Scheme (‘NRAS’ or ‘the Scheme’) is an Australian Government affordable housing initiative, delivered in partnership with state and territory governments. NRAS commenced on 1 July 2008.
NRAS homes are not social housing – they are affordable private rental homes. The Scheme will conclude in 2026.
The NRAS Year is offset from the financial year by two months and runs from 1st of May to 30th April each year. The Federal Government contributes 75% of the National Rental Incentive (NRI) for NRAS each year, with the other 25% being contributed by the State and Territory Governments. The NRI is indexed annually to the CPI and is $11,248.09 for the 2019 – 2020 NRAS Year.
Please click here to view the Australian Government NRAS Incentive 2020 indexation fact sheet plus all prior year incentive payments.
The Federal Government’s portion is claimed as a Refundable Tax Offset (RTO) on your income tax return and is paid directly to you by the Australian Taxation Office (ATO) through the NRAS Approved Participant. In past years the Federal Government has issued RTO (Refundable Tax Offset) certificates to your NRAS Participant by late July and the certificates are then forwarded to you (the NRAS Investor). For more information about the timing of claims being lodged, please contact your NRAS Approved Participant or contact Affinity Property for further information.
The State Government pays the state component of NRI to the NRAS participant following the issue of the Federal Government RTO Certificate. The State Government funds are then deposited into your bank account.
The NRAS Incentive may be paid on a pro rata basis where:
Incentive values for the 2020-21 NRAS year are listed below.
|Australian Government Contribution||$8,452.94|
At Affinity Property we specialise in all aspects of property investment and property management. We are one of Australia’s largest accredited NRAS Property Managers and have expertise working across multiple NRAS models.