Document ID: chunk:federal_register_of_legislation:F2024L01729:reg:5
Version: federal_register_of_legislation:F2024L01729
Segment Type: reg
Provision Reference: reg 5
Character Range: 3259–4884

5  Requirements for affordable dwellings
  Under subsection 45‑153(3) of the Act, each of the following requirements for a dwelling to be an affordable dwelling are determined:
 (a) the rent payable under a lease for the dwelling must be 74.9% or less of the market value of the right to occupy the dwelling under the lease;
  (b) the dwelling must be tenanted, or available to be tenanted, only by one or more of the following:
 (i) an adult living alone whose taxable income, for the most recent income year, for which the Commissioner has given the adult a notice of assessment, ending before the dwelling's most recent assessing event, was less than 120% of average annual earnings;
 (ii) 2 or more adults living together whose combined taxable incomes, for the most recent income year, for which the Commissioner has given each adult a notice of assessment, ending before the dwelling's most recent assessing event, was less than 130% of average annual earnings;
 (iii) one adult living with one or more dependent children of the adult, where the adult's taxable income, for the most recent income year, for which the Commissioner has given the adult a notice of assessment, ending before the dwelling's most recent assessing event, was less than 140% of average annual earnings;
 (iv) 2 or more adults living with one or more dependent children of any of the adults, where the adults' combined taxable incomes for the most recent income year, for which the Commissioner has given each adult a notice of assessment, ending before the dwelling's most recent assessing event, was less than 140% of average annual earnings.