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National Rental Affordability Scheme

The Prime Minister has announced the National Rental Affordability Scheme which is designed to create a new ‘asset class’ of affordable rental properties.

Under the Scheme, the Commonwealth will provide private investors with tax credits of $6,000 a year for ten years for new properties that are rented at 20 per cent below the prevailing market level.

States and Territories have agreed to provide $2,000 per home either through cash payments or in kind, such as via the provision of cut price land or concessions on stamp duty.

The initiative would mean, for example, that rent on a new average three bedroom unit would fall for $350 a week to $280 a week – a $70 saving.

March 4, 2008 in Business Planning, Tax | Permalink

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Comments

Hi,
Do you have any more information on the rental affordability scheme? From when is it valid ? If I were to start building now, eould I be able to claqim under the scheme ?

Thanks and regards,

Mark

Posted by: Mark Gidvani | Mar 13, 2008 9:44:18 AM

How do I about finding out more information on the rental affordability scheme? I would be very interested in exploring this further. When does this scheme become active and how do I go about applying for it? I would be keen to do a development in the near furture.

Posted by: Honey-Anne Kingsley | May 5, 2008 11:10:30 AM

I have not seen any more details. There may be something in the Budget next week.

Posted by: David Jacobson | May 5, 2008 8:30:34 PM

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