NRAS 2012 figures released 

The current collective figure of $9,524 p.a. (made up of $7,143 from the Fed Govt & $2,381 from the State Govt) is about to be increased to $9,981 for the coming year – 01/05/2012 to 30/04/2013.

 The incentive for the new NRAS year (1 May – 30 April), starting tomorrow will be $9,981, representing an increase of 4.79% from last year’s figure of $9,524.

 The annual income-tax free Incentive is currently $9,981 per dwelling, and is indexed each year to the rental component of the CPI.  The Incentive comprises:

• An Australian Government contribution of $7,486 per dwelling per year (as a refundable tax offset or payment); and
• A State or Territory Government contribution of $2,495 per dwelling per year (in direct or in-kind financial support).

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Jye Amery