The State and Commonwealth Governments have mutually set up a scheme to help address the rental problems throughout Australia. This scheme, the National Rental Affordability Scheme (NRAS), anticipates that roughly 50,000 new dwellings will be available to be let out to low to moderate income families and individuals right across Australia. The Commonwealth Government has recognized that around 1.3 million households nationwide are qualified for NRAS and approximately 200,000 of these households are living in Queensland.
The NRAS Queensland scheme gives out annual incentives and the current value of these incentives is:
The Government’s subsidy is given to investors who rent out their properties, to eligible householders on low to moderate incomes, for at least 20 percent below the market rental rate for the duration of the 10 years. However, the discount rises to 25 percent when managed via QAHC (See below) as this is a Queensland based charitable institution and the Queensland Government demands a minimum discount of 25 percent.
In addition to NRAS Queensland, did you know that as an investor either buying or constructing a new property which is worth less than $600,000 in value, you may be able to get your hands on the Queensland Government’s $10,000 Building Boost Grant?
The Queensland Affordable Housing Consortium can be located at; http://www.qahc.asn.au/
Information on the Building Boost Grant can be found at; http://boost.treasury.qld.gov.au/investor/index.php
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