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Requirement for Sugarcane Farmer to hold Eligible Interest
Definition of eligible interest in a sugarcane farm
- have legal ownership of the sugarcane farm land, or
- hold a pastoral lease over the sugarcane farm land, or
- hold an equitable interest in general law land that is mortgaged, or
- are a sharefarmer in a private company that owns or holds a pastoral lease over the sugarcane farm land.
Sharefarmers who do not own real land
Sharefarmers who do not own real land and do not have an eligible interest are unable to participate in RASF.
Occupation of property on short-term lease
Sugarcane farmers who occupy property on a short-term lease rather than a pastoral lease are unable to participate in RASF because they do not have an eligible interest in the sugarcane farm.
Trustee of trust
A trustee of a trust has a legal interest in the trust's assets. Accordingly, where a farm is owned by a trust and the sugarcane farmer is the trustee of that trust, he or she has an eligible interest in the sugarcane farm. This includes situations where the sugarcane farmer is the trustee of an estate, for example where a widow/widower is trustee of the deceased partner's will.
Shareholders in private trustee companies
Shareholders in private trustee companies that own a sugarcane farm have an eligible interest.
A sugarcane farmer holds an eligible interest in a sugarcane farm if they:
- have a legal estate or interest in the sugarcane farm, or
- have a transferable legal right or a transferable licence to occupy the farm for a particular purpose of the sugarcane farm enterprise, or
- have an equitable estate or interest in a farm, as mortgagor of the legal estate or interest in the farm; or
- are a shareholder in a private company that owns or holds a pastoral lease over the farm land.
Refer to subsection 5PAA(5) for the full definition.
Trustee has two meanings depending on the context, (i) and (ii).
(i) a person who looks after someone else's affairs
According to section 202 of the VEA, a trustee is a person appointed by the Commission to administer the financial affairs of a pensioner who may be incapable of managing their own affairs for reasons such as:
- ill health, or
These criteria include circumstances where a pensioner has a psychiatric disorder or a mental illness as a result of alcohol or drug addiction.
A trustee can be appointed, with or without the consent of the pensioner and once appointed, a trustee has full control of the pension payment.
(ii) a person responsible for administration of a trust
A widow is a woman who was:
- the partner of a person immediately before the person died; or
- legally married to a man and living with him immediately before he died; or
- legally married to a man and living separetely and apart from him on a permanent basis, immediately before he died.
A widower is a man who was:
- the partner of a person immediately before the person died: or
- legally married to a woman and living with her immediately before she died; or
- legally married to a woman and living separetely and apart from her on a permanent basis immediately before she died.