34Housing Australia must conduct 5‑yearly reviews

34  Housing Australia must conduct 5‑yearly reviews

  Without limiting section 33, Housing Australia must, for each arrangement, conduct a review at least every 5 years to determine:

 (a) in the case of a participant, other than a single parent, who is a sole participant—whether the participant’s taxable income:

 (i) for the most recent income year (within the meaning of the Income Tax Assessment Act 1936) for which the Commissioner of Taxation has given the participant a notice of assessment—exceeded the single income threshold for the financial year in which the review is undertaken; and

 (ii) for the income year immediately preceding the most recent income year for which the Commissioner of Taxation has given the participant a notice of assessment—exceeded the single income threshold for the financial year preceding the year in which the review is undertaken; and

 (b) in the case of a participant who is a single parent—whether the participant’s taxable income:

 (i) for the most recent income year (within the meaning of the Income Tax Assessment Act 1936) for which the Commissioner of Taxation has given the participant a notice of assessment—exceeded the joint income threshold for the financial year in which the review is undertaken; and

 (ii) for the income year immediately preceding the most recent income year for which the Commissioner of Taxation has given the participant a notice of assessment—exceeded the income threshold for the financial year preceding the year in which the review is undertaken; and

 (c) in the case of joint participants—whether the participants’ combined taxable incomes:

 (i) calculated by adding together the taxable income of each participant for the most recent income year for which the Commissioner of Taxation has given each of the participants a notice of assessment—exceeded the joint income threshold for the financial year in which the review is undertaken; and

 (ii) calculated by adding together the taxable income of each participant for the income year immediately preceding the most recent income year for which the Commissioner of Taxation has given each of the participants a notice of assessment—exceeded the joint income threshold for the financial year preceding the year in which the review is undertaken; and

 (d) whether each participant has met the participation requirements.