National Rental Affordability Scheme Amendment Regulation 2012 (No. 1)

Link to law: https://www.comlaw.gov.au/Details/F2012L02444

National Rental Affordability Scheme Amendment Regulation 2012 (No. 1)1
Select Legislative Instrument 2012 No. 300
I, QUENTIN BRYCE, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulation under the National Rental Affordability Scheme Act 2008.
Dated 6 December 2012
QUENTIN BRYCE
Governor-General
By Her Excellency’s Command
BRENDAN O’CONNOR
Minister for Housing
1              Name of regulation
                This regulation is the National Rental Affordability Scheme Amendment Regulation 2012 (No. 1).
2              Commencement
                This regulation commences on the day after it is registered.
3              Amendment of National Rental Affordability Scheme Regulations 2008
                Schedule 1 amends the National Rental Affordability Scheme Regulations 2008.
Schedule 1        Amendment
(section 3)
 
[1]           After regulation 25
insert
25A         Additional eligibility in 2012–13 and 2013–14 NRAS years
         (1)   For the NRAS year beginning on 1 May 2012 (the 2012–13 NRAS year), an approved participant for an approved rental dwelling is also entitled to receive an incentive if:
                (a)    the tenants of the dwelling were not eligible tenants or ceased to be eligible tenants because of their combined gross income; and
               (b)    the combined gross income of the tenants exceeded the income limit for their household in the 2012–13 NRAS year by:
                          (i)    for new tenants of the dwelling—less than 1.5%; and
                         (ii)    for existing tenants of the dwelling—less than 26.875%; and
                (c)    all other conditions of the allocation have been satisfied.
         (2)   For the NRAS year beginning on 1 May 2013 (the 2013–14 NRAS year), an approved participant for an approved rental dwelling is also entitled to receive an incentive if:
                (a)    the tenants of the dwelling ceased to be eligible tenants during the 2013–14 NRAS year because of their combined gross income; and
               (b)    the combined gross income of the tenants exceeded the income limit for their household in the 2012–13 NRAS year by less than 26.875%; and
                (c)    all other conditions of the allocation have been satisfied.
Note
1.       All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See www.comlaw.gov.au.
 
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