FAQ

Are NRAS Incentives Tax Free?

Yes

The Commonwealth Tax Incentive is payable as a Refundable Tax Offset, this means it reduces your tax bill or if you do not pay enough tax you can receive it as a tax refund. The States contribution is ‘non assessable and non exempt’ for tax purposes. This means that they are ‘tax-free’

Can NRAS registered property be sold?

Yes

The buying and selling of NRAS registered property must be through a compliant entity. See the National Housing Group homepage for more details.

Are NRAS properties “housing commission” homes?

No

It is important to distinguish this program from the Federal Government “Social Housing Program”. This is NOT part of that program and attracts totally different tenants.

All NRAS properties are high quality homes, in desirable areas, designed to provide affordable housing for “middle Australia” families on good incomes but unable to acquire the deposits or to afford the mortgage payments needed for home ownership. A Family with three children can earn over $100,000 pa and still qualify for this program.

What happens to NRAS dwellings after ten years?

After ten years NRAS dwellings can be sold or rented at market rent.

Who sets the market rent?

Registered valuers will provide a written valuation on the market value rent.  Under the NRAS Scheme a formal independent valuation is required in years 1, 4, and 7 of the life of the approved NRAS property.