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National Rental Affordability Scheme (NRAS)
The Australian Government announced in the 2014 Budget that it will not be proceeding with Round 5 of the National Rental Affordability Scheme (NRAS). For further information, see the set of Questions and Answers on the outcome of applications for incentives through NRAS Round 5 on the Department of Social Services website.
National Rental Affordability Scheme – Trading of Incentives – Warning
On 10 October 2014, the Commonwealth Department of Social Services (DSS) released a Cautionary Note to developers, investors and charitable organisations regarding the trading of incentives under NRAS.
DSS has warned those groups to be extremely careful before agreeing to pay any funds in respect of a transaction involving an allocated or reserved incentive under NRAS as it has become aware that dwellings are being marketed in circumstances where the dwellings may be falsely represented as having NRAS incentives attached.
For more information, please see the full content of the Cautionary Note on the DSS website.