INCOME FROM ASSETS Sample Clauses

INCOME FROM ASSETS. 1. Income from assets is determined by exempting the first $10,000.00 from total assets and computing the balance at a percentage per annum2 as may be set from time to time by BC Housing.
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INCOME FROM ASSETS. With respect to Section 3 of this Schedule A, “Income from Assets” means computing income from assets of all persons intending to live in the Affordable Housing Unit but excluding the first ten thousand dollars ($10,000) of income from assets earned by such person or such other greater dollar figure as the Local Trust Committee or its designate may specify from time to time.
Sample 1
INCOME FROM ASSETS. From the verification documentation obtained relating to each asset source, list the gross amount anticipated to be received during the twelve months from the effective date of the certification. If individual household member ownership of assets is provided, list the respective household member number from Household Composition and complete a separate line for each member. Column [F] List the type of asset (i.e., checking account, savings account, etc.) Column [G] Enter the cash value of the respective asset. Column [H] Enter anticipated annual income from the asset (i.e., savings account balance multiplied by annual interest rate). TOTALS Add the total of Column [G] and Column [H] respectively. If the total in Column [G] is greater than $5,000, you must do an imputed calculation of asset income. Enter the Total Cash Value, multiply by .06%, and enter the amount in [I] Imputed Income. Xxxxxxx Ranch – Affordable Units Affordable Housing Implementation Plan Row [J] Enter the greater of the totals from Columns [H] and [I] Row [K] Total Annual Household Income from All Sources - Add [E] and [J] and enter the Total HOUSEHOLD CERTIFICATION AND SIGNATURES After all verifications of income and/or assets have been received and calculated, each household member age 18 or older must sign and date the Tenant Income Certification. For move-in, it is recommended that the Tenant Income Certification be signed no earlier than 5 days prior to the effective date of the certification.
Sample 1

Related to INCOME FROM ASSETS

  • INCOME FROM IMMOVABLE PROPERTY 1. Income derived by a resident of a Contracting State from immovable property (including income from agriculture or forestry) situated in the other Contracting State may be taxed in that other State.

  • Excluded Assets Notwithstanding the foregoing, the Purchased Assets shall not include the following assets (collectively, the “Excluded Assets”):

  • Income In determining individual “income,” Subscriber should add to Subscriber’s individual taxable adjusted gross income (exclusive of any spousal income) any amounts attributable to tax exempt income received, losses claimed as a limited partner in any limited partnership, deductions claimed for depletion, contributions to an IXX or Kxxxx retirement plan, alimony payments, and any amount by which income from long-term capital gains has been reduced in arriving at adjusted gross income.

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