The Australian Government has introduced greater flexibility into the NRAS to provide participating charities with choice on how they receive incentives, as well as to encourage increased investment from investors.
National Rental Affordability Scheme Amendment (Incentive Election) Regulation 2013 commenced on 3 July 2013. This amendment is to allow NRAS approved participants that are endorsed charities to change their election to receive the NRAS incentive as a tax offset certificate, rather than as a cash payment.
Prior to the amendment, endorsed charities could only receive the NRAS incentive as a tax offset certificate under limited circumstances, such as if they elected to do so at the time an offer of incentives was made.
To find out more, please visit the Opportunity for endorsed charities to elect to receive NRAS incentives as tax offset certificates, instead of cash page.