Show download pdf controls
  • Do your clients have NRAS rental properties?

    We will shortly send letters to property owners involved in the national rental affordability scheme (NRAS) to remind them of their claim requirements. This may include your clients.

    The national rental affordability scheme (NRAS) started on 1 July 2008, and offers annual incentives for 10 years. The two key elements of the incentive are:

    • refundable tax offset or direct payment
    • contribution from state or territory governments.

    If your clients own an NRAS rental property, remind them they are eligible to claim a refundable tax offset if:

    • the Approved Participant has provided them with advice of their entitlement based on the certificate received from the Housing Secretary, and
    • the claim is made in the year to which the certificate relates.

    Remind your clients they can claim deductions for expenses incurred with their NRAS rental property, apportioned to exclude the state or territory contribution they received. The contribution amount is non-assessable, non-exempt (NANE) income for tax purposes.

    See also:

    Last modified: 19 Nov 2019QC 60666