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Loan Help: NRAS Scheme

The National Rental Affordability Scheme (NRAS) is an Australian Government initiative to stimulate the supply of 50,000 new affordable rental dwellings.

Successful NRAS applicants are eligible to receive an Incentive for each approved dwelling where they are rented to eligible low and moderate income households at a rate that is at least 20 per cent below the prevailing market rate.

Potential investors in investment vehicles involving the NRAS should note that the allocation or reserved allocation of NRAS Incentives does not constitute Government endorsement of the development proposal as an investment opportunity.

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Governments, the business sector and community organisations recognise that housing affordability is an issue of significant community concern. The growing cost of housing is having a serious impact on the ability of many Australians to meet their financial commitments.

Under NRAS, the Australian Government is providing incentives to:

  • Increase the supply of affordable rental dwellings.
  • Reduce rental costs for low to moderate income households.
  • Encourage large scale investment and innovative delivery of affordable housing.

The Scheme offers annual incentives for ten years. The two key elements of the incentive are:

  • A Commonwealth Government Incentive currently of $7,486 per dwelling per year as a refundable tax offset or payment.
  • A State or Territory Government Incentive currently of $2,495 per dwelling per year in direct or in kind financial support.

NRAS is designed to pool significant resources from a range of participants including financial institutions, non-profit organisations and developers which, when combined with the Incentives from the Scheme, will increase the supply of lower-rent housing.

These resources could include loans; equity investments; capital grants by Commonwealth, State and Territory or Local Governments; donations by charities; free or discounted land by churches; or contributions by developers in accordance with planning requirements.

The tenant eligibility criteria ensure the Scheme is open to a range of household types on low and moderate incomes.

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