The Australian government's recent tax legislation changes regarding the construction of new Australian property under the National Rental Affordability Scheme (NRAS) is positive news.
This is according to the Residential Development Council's executive director Caryn Kakas.
She said it will allow not-for-profit housing companies to move ahead in delivering long-term affordable housing for families with low to moderate incomes across the country.
The tax legislation changes will provide certainty for financial backers, such as banks, financial institutions and other investors, Ms Kakas added.
"We thank the government for providing renewed confidence to the property and financial sectors engaging with this vital programme to ensure the continued supply of affordable housing to all Australians," she concluded.
The NRAS offers annual incentives to property developers for ten years on the condition that a dwelling is rented at 20 per cent below the market rate to those from low and moderate income households.
Posted by Craig Francis
This is according to the Residential Development Council's executive director Caryn Kakas.
She said it will allow not-for-profit housing companies to move ahead in delivering long-term affordable housing for families with low to moderate incomes across the country.
The tax legislation changes will provide certainty for financial backers, such as banks, financial institutions and other investors, Ms Kakas added.
"We thank the government for providing renewed confidence to the property and financial sectors engaging with this vital programme to ensure the continued supply of affordable housing to all Australians," she concluded.
The NRAS offers annual incentives to property developers for ten years on the condition that a dwelling is rented at 20 per cent below the market rate to those from low and moderate income households.
Posted by Craig Francis
