If you’re interested in investing in Australian property, there are many different options available. Australia is experiencing a property shortage due to a rapid growing population coupled with rising income. The Australian Government offers significant tax incentives for people investing in property for rental purposes, making it a very attractive option for investors from around the world.
If you’re interested in migrating to Australia, having an investment property will make your move a whole lot easier. No matter how good your credit history is in South Africa, it won’t move with you to Australia. Investing prior to making the move will build up your credit rating and enable you to borrow money upon your arrival in Australia, making your settlement in the country much easier.
How does getting money back for investing in Australian property sound to you? Too good to be true, right? Wrong! The Australian Government has created a National Rental Affordability Scheme (NRAS) and are paying investors of these properties $10,350 TAX FREE, every year for 10 years. This builds to around $137,000 in total. Good news is that South Africans can invest in these properties, just like any other investment property in Australia. NRAS properties are in no way inferior to any other property being developed in Australia and are located alongside non-NRAS properties.
NRAS was put in place to address the shortage of affordable rental properties in Australia and aims to increase the supply of affordable rental housing, reduce rental costs for households with low to moderate income, and encourage investment of affordable housing.
NRAS properties give future migrants the rewarding opportunity to:
• Build a credit history in Australia
• Get money back from the Australian Government
• Know that you are helping low and middle income households find affordable housing