NRAS Household Income (Indexation)

National Rental Affordability Scheme (NRAS)

NRAS household income (indexation) for 2014-15 year

Overview incentive if the tenants’ household income exceeds the applicable household income limit by 25 per cent or more in two consecutive In order to be eligible for an incentive under NRAS, approved eligibility years. participants must ensure that dwellings are rented to eligible Each year, household income limits are indexed according to tenants. percentage changes of All Groups Component of the Consumer The gross income limits for households of eligible tenants are Price Index so that the limits effectively maintain the same target specified in the NRAS Regulations. group of tenants over the life of the Scheme.

Income levels are assessed against gross income limits according to the household composition. For NRAS purposes, a household is considered to be all persons who are tenants of the dwelling. All persons who ordinarily reside in a NRAS home must have their income included as a member of the household.

A household’s gross income for the 12 months prior to commencement of tenancy of an NRAS dwelling must be equal to or less than the relevant income limit for the household’s composition. Household income may then increase above the income limit. However, a dwelling ceases to be eligible for an The 2014-15 household income limits Initial Existing tenant Household household income limit The 2014-15 household income eligibility limits are: composition income limit ($) ($)* 2014-15 Year Sole parent with 81,108 101,385 1st Adult $47,289 two children

1st Adult $49,738 Sole parent with 96,793 120,991 - sole parent three children

Each Additional $18,089 Couple with one 81,063 101,329 Adult child

Each Child $15,685 Couple with two 96,748 120,934 For ease of application purposes, a variety of 2014-15 income children eligibility limits for various household compositions are presented Couple with 112,433 140,541 below. three children

Initial Existing tenant *If the household income of an existing tenant exceeds the Household household income limit indicated limit (25 per cent greater than the initial income limit) in composition income limit ($) ($)* two consecutive NRAS years, the tenant will cease to be an

One adult 47,289 59,111 eligible tenant. This column indicates figures which are 25 per cent higher than the household income limits for ease of reference Two adults 65,378 81,722 for this purpose. Three adults 83,466 104,333

Four adults 101,555 126,944 More information

Sole parent with For more information visit www.dss.gov.au/nras. 65,423 81,779 one child