does anyone remember the bashing i gave NRAS about 6 months ago?
well, clearly i was was out of line a little.
myself - and a few others - came to the conclusion that the $8000pa over 10 years was a tax deduction - that is, $8000 off your total income for the year. the wording was shocking and it was about as clear as mud.
BZZZZZT
NRAS scheme basically says if you can provide a residence to market at 20% under market rent, they will give you an $8000 deduction FROM YOUR TOTAL TAX PAYABLE.
think of it as a gift - like a baby bonus, stimulus cheque.....whatever. tax free.
you have to apply for NRAS though, or be buying off a developer with an NRAS allocation and manage it through an NRAS accredited PM. there are only "x" number of allocations allowed - but the developer i work closely with is securing 500 (five hundred) in WA between now and 2012.
so those deals that three forumites have shown interest in just got better.
and there's some pipeline news - this could also be applied to another dual occ development we're doing within 200m of the trainstation, 300m to shops and schools and freeway on-ramp and less than 1km to the beach.
can anyone say "CF+" and "high growth" in the same sentence?
well, clearly i was was out of line a little.
myself - and a few others - came to the conclusion that the $8000pa over 10 years was a tax deduction - that is, $8000 off your total income for the year. the wording was shocking and it was about as clear as mud.
BZZZZZT
NRAS scheme basically says if you can provide a residence to market at 20% under market rent, they will give you an $8000 deduction FROM YOUR TOTAL TAX PAYABLE.
think of it as a gift - like a baby bonus, stimulus cheque.....whatever. tax free.
you have to apply for NRAS though, or be buying off a developer with an NRAS allocation and manage it through an NRAS accredited PM. there are only "x" number of allocations allowed - but the developer i work closely with is securing 500 (five hundred) in WA between now and 2012.
so those deals that three forumites have shown interest in just got better.
and there's some pipeline news - this could also be applied to another dual occ development we're doing within 200m of the trainstation, 300m to shops and schools and freeway on-ramp and less than 1km to the beach.
can anyone say "CF+" and "high growth" in the same sentence?