Stony Creek

Why Invest in Stony Creek?

Stony Creek Estate is situated approximately 13 kilometres south of the Cairns CBD in the suburb of Edmonton at the intersection of Petersen Road and the Bruce Highway. Queensland, and particularly Cairns, has been experiencing record lows of unemployment and the economic stability of the region has seen growth above the national average.

Close to schools and shops with a light rail line connecting Edmonton to Cairns CBD. Within the Estate is a Childcare centre and local stores (ready 2010). Within the estate are parks and a running and walking track along the creek shoreline for outdoor entertainment and fitness. And it is perfectly located for a trip to the World Heritage Great Barrier Reef.

Each house in the development has been individually built by Cairns' leading, award-winning Master Builder, Laurence Court. The house and land packages thus offer the best prices, inclusions, and location in Cairns.

What is N.R.A.S?

NRAS is an acronym for National Rental Affordability Scheme; it was created and implemented during the May 2008 government budget. Its purpose was to make property rentals more affordable for those who have difficulty buying a property, but earn too much to qualify for community housing. The determination of qualification for NRAS is a person/household who earns within a financial year a gross salary of less then $80,000. The Queensland Government will supply a list of requalified tenants to avoid abuse of the Scheme.

What is your Benefit?

The incentive, and to create more affordable living in the harsh Queensland consumer property market, is the property owner of an NRAS approved property offers their prospective tenant 20% less than the valued current rental median price for that area. In return for this the Government will issue at the end of the financial year a total of $8672 tax free return to compensate for the discount issued to the tenant.

How long do I get to take advantage of this scheme?

This cash payment is valid for every year the property is actively involved with the NRAS scheme for a total maximum period of 10 years. The cash return is also varied based on CPI. The property must remain in the Scheme for ten years, but can be sold to other investors ;( alternatively a similar replacement property can be found for the tenant).

Do I have a choice who lives in my house?

The owner of the property may choose his own tenant in conjunction with his/her managing agent – there is no obligation to accept a certain tenant. Tenants must merely be prequalified by the Queensland Government. As an owner of a Stony Creek NRAS property you will benefit from tax deductions that are available to you, such as deductions for property management, insurance, depreciation and interest expenses.