To be eligible to be considered for an NRAS dwelling, irrespective of whether you are a domestic or international student or otherwise, your gross annual income (in Australian Dollars) must not exceed the Initial Income Limit set out below:
||Initial income limit
||Upper income limit
|Each additional adult
The annual Income Limits specified above apply for the 2016-2017 NRAS Year (indexed in accordance with the NRAS tenant income index on 1 May each year).
The “each additional adult” limit applies to each additional adult living in a shared NRAS dwelling. For example:
(a) Sole occupancy studio apartment – the Initial Income Limit of a resident living in a studio apartment will be $47,904;
(b) Shared studio apartment – the combined Initial Income Limit of a couple living in a studio apartment will be $66,229; and
(c) Two bedroom apartment – the combined Initial Income Limit of two residents living in the two bedroom apartment will be $66,229.
When applying for an NRAS dwelling, the gross annual income of the applicant must not exceed the Initial Income Limit at the time of becoming a resident of an NRAS dwelling (i.e. on the Residential Agreement commencement date). Income may, however, increase during the relevant 12 month period by up to 25% of the Initial Income Limit (i.e. the Upper Income Limit) before eligibility is affected.
Residents of NRAS dwellings must notify the Village if they expect their income to increase from that declared at the time of entering into the Residential Agreement. See Question 5 (What do I have to provide to consider my initial eligibility?).