BPP manage National Rental Affordability Scheme properties for private investors within Bendigo. As well as day to day property management an annual tenant eligibility check must be completed for the Landlord to be compliant within the scheme .
The compliance process and NRAS Audit is managed on behalf of Landlords by approved NRAS participant Questus Funds Management, for further information please visit www.questus.com.au
The NRAS Year is offset from the financial year by two months and runs from 1st of May to 30th April each year. The Federal Government contributes 75% of the National Rental Incentive (NRI) for NRAS each year, with the other 25% being contributed by the State and Territory Governments. The NRI is indexed annually to the CPI and is $11,248.09 for the 2019 - 2020 NRAS Year.
For the most recent ATO figures click here: NRAS indexation information
The Federal Government’s portion is claimed as a Refundable Tax Offset (RTO) on your income tax return and is paid directly to you by the Australian Taxation Office (ATO) through the NRAS Approved Participant. In past years the Federal Government has issued RTO (Refundable Tax Offset) certificates to your NRAS Participant by late July and the certificates are then forwarded to you (the NRAS Investor). For more information about the timing of claims being lodged, please contact your NRAS Approved Participant or contact our office for further information.
The State Government pays the state component of NRI to the NRAS participant following the issue of the Federal Government RTO Certificate. The State Government funds are then deposited into your bank account.
The NRAS Incentive may be paid on a pro rata basis where: