National Rental Affordability Scheme (NRAS)

A Commonwealth Government scheme that commenced on 1 July 2008, providing annual incentives (tax credits—if paying tax, grants—if not paying tax) to investors for 10 years to create 50 000 new affordable rental properties rented to low-income and moderate-income households at 20 per cent below local area market rents. The scheme was stopped for new property incentives in 2014, and as a result 37142 dwellings will be built.