The Federal portion of the NRAS Incentives (Refundable Tax Offset Certificates) have now been received by AAHS for the majority of claims.
AAHS has successfully submitted all Incentive Claims on 15th May 2020. The Department of Social Services (DSS) have started processing the claims. We anticipate the claims will be ready for Delegate approval by the 30th June 2020. AAHS will issue the Refundable Tax Offset Certificate (RTO) when we receive advice.
AAHS is excited to welcome 208 new investors who were transferred by the Department of Social Service (DSS) to AAHS from another Approved Participant following their withdrawal from the NRAS.
The end of the NRAS year (30 April) is fast approaching. AAHS has been collecting the relevant information throughout the year as the documents become due. Generally outstanding documents relate to March and April and only affect dwellings with documents due in those months. AAHS will submit claims for completed dwellings by the due date, 30 June 2020.
When your investment property is first available for rent, and at the end of the 4th and 7th years of your incentive period, a market rent valuation is completed to establish the market value rent of your property. This valuation is used to calculate the maximum rent that can be charged to your tenants, ensuring it does not exceed 80% of the market value rent.
During 2019, AAHS CEO Samantha Evans, completed a four week Churchill Fellowship program travelling to San Francisco, Boston, Washington D.C and London meeting shared equity experts in the USA and UK.
As the dust settles on the 2019 election result, AAHS along with the property and development industries in general, welcomes the announcement of a dedicated Housing Minister as part of the new cabinet declared by the Prime Minister Scott Morrison. The Honourable Michael Sukkar has been confirmed as Assistant Treasurer and Minister for Housing and recognises housing affordability as a national issue for the Morrison Government.
AAHS has been working with property managers throughout the year to ensure we have all the relevant documents and that they are submitted on time. AAHS submitted all our NRAS Incentive claims to the Department of Social Services (DSS) for the 2018-19 year on Friday 10 May, well in advance of the June 30 deadline.
AAHS has received the NRAS Market Index figures effective from 1 May 2019 to 30 April 2020 for each capital city as detailed below. The NRAS market rent is indexed according to the Rental component of the Housing Group Consumer Price Index (CPI), December to December quarter, as at 1 March.
Australian Affordable Housing Securities Ltd (AAHS), one of the largest approved participants managing compliance under the National Rental Affordability Scheme (NRAS), had recently added 153 properties to its compliance management portfolio.