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Government Policy Changes to the NRAS Scheme

NAHC Future Directions: A Message from the Company

Since its incorporation in 2008, NAHC has facilitated the provision of over 2,600 new NRAS affordable homes in QLD, NSW and Victoria. It also has 800 new homes in its delivery pipeline. NAHC has attracted over $1.3 billion of private investment into new affordable housing, enabling 14,000 FTE jobs and saving tenants around $16 million per year in rent.

NAHC has created strong partnerships with developers, financiers, community housing providers and government to achieve these outcomes. Despite the recent government announcement that there will be no further NRAS tender rounds, NAHC is well positioned to continue to create affordable and social housing opportunities with existing and new partners. The company is in a sound financial position and has invested in new research & development to provide the basis for future growth. This includes shared equity home ownership, affordable rental housing and new options for social housing reform and renewal.

Australia has a major housing supply shortage, approaching 320,000 homes by 2016, and one of the world's worst affordability problems. NAHC and its partners understand this challenge and we will continue to make inroads into addressing this problem. We also know that government must play a constructive role alongside industry and community if we are to address supply and affordability issues and ensure a secure, fair and sustainable housing future for our country.

We are open for business and will continue to create strong delivery partnerships across a wider range of housing activity.

Following announcements in the Federal Budget concerning the National Rental Affordability Scheme (NRAS), the following information should help to ensure all NAHC-NRAS owners, tenants and developers have access to accurate information regarding the scheme.

NRAS Owners

Please be assured that, regardless of whether future construction is carried out under NRAS, incentives that are already allocated through the NRAS scheme will continue to be paid for eligible dwellings delivered on time in agreed locations, including if your property is already tenanted.

While we are extremely disappointed with the government's decision, NAHC will continue to lobby the government for affordable housing outcomes for the hundreds of thousands of hard-working Australian families and individuals who currently live in rent stress.

Please feel free to contact us if you require any further clarification.

NRAS Tenants

Please be assured that no changes will be made to your tenancy. No tenancy arrangments under NRAS will be affected by this announcement and your current tenancy arrangements are secure. The announcement only concerns future NRAS allocations.

If you have any questions regarding your tenancy, please contact your property manager.

NRAS Developers

Under Key Documents, please see the announcement from the Department of Social Services stating that the Commonwealth government will not fund any further rounds of NRAS.

While the government is not proceeding with the final round of NRAS, incentives already allocated through the scheme will continue to be paid for 10 years, as long as eligibility requirements are met and homes in the construction pipeline are built according to agreed timeframes in agreed locations.

As NAHC understands it, the Commonwealth will continue to fund and provide incentives to dwellings built under Round 4 and earlier. Those yet to be delivered will have a tough "use it or lose it" rule to ensure reserved allocations are built on time and in the agreed location. Dwellings that cannot meet the agreed schedule and locations will be withdrawn by the government and not reallocated.

Thank you for your efforts and support of NAHC and affordable housing outcomes for the Australian community. Please contact us if you require any further information.


Privacy Policy

NAHC has updated its Privacy Policy. The Policy can be found under “NAHC Latest Key Docs” at the top right hand corner of this home page. NAHC requests that all current and prospective owners and all current and prospective tenants read NAHC’s new Privacy Policy.

ATO Private Ruling

The Australian Tax Office has released a private binding ruling on the public ATO register which concerns the apportionment or rental expenses for NRAS Approved Rental Dwellings.

That ruling provides: ‘While derivation of assessable income by way of rent is one objective achieved by your participation in NRAS, the receipt of government incentives, including state government NANE (non-assessable non-exempt) income is another. The costs associated with making your property available as an NRAS rental property would need to be apportioned to reflect the derivation of associated assessable income and NANE income. Accordingly the rental expenses you will incur in respect of the rental property must be apportioned, limiting your claim for any deduction to the portion of costs relating to the derivation of assessable income’. A full copy of the private ruling may be obtained here.

Importantly a private ruling on the ATO register cannot be relied upon by members of the public (other than the private recipient of the ruling) in their tax returns. The ATO advises: ‘the rulings in the Register have been edited and may not contain all the factual details relevant to each decision. Do not use the Register to predict Tax Office policy or decisions.’ NAHC cannot provide taxation or legal advice. Investors should receive their own taxation advice in respect of the ability to claim deductions for expenses (including insurance, repairs and loan interest) incurred in respect of an NRAS Approved Rental Dwelling.

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The Consortium meets affordable housing needs in Queensland and across Australia through the National Rental Affordability Scheme