Commonwealth Consolidated Acts Commonwealth Consolidated ActsA * dwelling is used to provide affordable housing on a particular day (the test day ) if:
(a) on the test day, the dwelling is * taxable Australian real property and is * residential premises that:
(i) are tenanted or available to be tenanted; and
(ii) are not * commercial residential premises; and
(b) on the test day, the tenancy or prospective tenancy of the dwelling is exclusively managed by an * eligible community housing provider; and
(c) the eligible community housing provider has given each entity that holds an * ownership interest in the dwelling a certificate under section 980 - 15 that covers the dwelling for the test day; and
(d) no entity is entitled to receive an incentive, under the Scheme prescribed for the purposes of Part 2 of the National Rental Affordability Scheme Act 2008 , for the dwelling for the NRAS year (within the meaning of that Scheme) that includes the test day; and
(e) in the case of a * managed investment trust holding an * ownership interest in the dwelling on the test day--none of the tenants or occupants of the dwelling on that day holds an interest in the trust that passes the * non - portfolio interest test at any time during that day.