Tax Savings Strategy 216 – Managed Investment Trusts Investing in Affordable Housing
MIT’s will be able to acquire, construct or redevelop property subject to satisfying the following conditions:
- Qualifying housing must be provided to low to moderate income tenants.
- Rents charged must be below the private market rental rate.
- The affordable housing must be available for rent for at least 10 years.
- The MIT must derive at least 80% of its assessable income from affordable housing in a year.
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