NRAS Incentive increased to $9,524

The Australian Government has confirmed the value of the National Rental Incentive (NRI) for each NRAS dwelling will be $9,524 for the 2012 NRAS Year. The Federal component will be $7,143 and the State component $2,381. This represents a 4.2% increase on the value of the 2011 NRI. 

The 2012 NRAS year covers the period 1 May 2011 to 30 April 2012.

NRAS investors seeking to lodge an income tax witholding variation on NRAS dwellings available for rent for the entire 2012 NRAS year will enter the value $7,143 in item E13 on the ATO form NAT 2036. 

The tenant eligibility criteria has been adjusted in line with inflation and the new criteria is published at the  SEWPaC website.

Investors can obtain further information about NRAS from the Government online at the SEWPaC website.

Author: Luke Forman