The National rental affordability scheme (NRAS) is designed to encourage large-scale investment in affordable housing. The NRAS offers incentives to providers of new dwellings on the condition that they are rented to low and moderate income households at 20% below market rates. Entities participating in the NRAS may claim their share of the refundable tax offset in their tax return.
Beneficiaries entitled to the NRAS tax offset must show the entitlement at this item and at item 65Statement of distribution. The amount of the entity's tax offset is the amount stated in the certificate issued by the Secretary of the Department of Families, Housing, Community Services and Indigenous Affairs. However, if the Secretary issues the entity with an amended certificate under the National Rental Affordability Scheme Act 2008, the amount of the entity's tax offset is the amount stated in the amended certificate.