Income limit relating to eligible tenants—Act, s 58Q
2B Income limit relating to eligible tenants—Act, s 58Q
For section 58Q(1)(c)(ii) of the Act, the limit prescribed, for the total income of all members of the person’s household and any non-resident spouse of the person, is the amount of the income threshold stated in subsection (2).
The income threshold is—
for 1 person (with no dependant children)—the annualised weekly earning amount; or
for 1 person (with 1 or more dependant children)—150% of the annualised weekly earning amount; or
for 2 or more persons (with no dependant children)—150% of the annualised weekly earning amount; or
for 2 or more persons (with 1 or more dependant children)—180% of the annualised weekly earning amount.
The persons’ total income must be worked out using the taxable income of each person for the period of 12 months ending on the day the residential tenancy agreement mentioned in section 58Q(1) of the Act is entered into.
In this section—
annualised weekly earning amount means the estimated average weekly total earnings for Queensland full-time adults (seasonally adjusted) stated in the most recently published May series by the Australian Bureau of Statistics on its website, multiplied by 52.
taxable income means taxable income under the Income Tax Assessment Act 1997 (Cwlth).
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