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Continuous period of 15 years eligible interest

The 15 year eligible interest period must have been continuous.

If a person has bought and sold a series of sugarcane farms, where there were any periods during which they did not hold an eligible interest in a sugarcane farm, they will not satisfy the test.

Documents such as title deeds for the previously owned sugarcane farms should be obtained to verify that there have been no gaps in sugarcane farm ownership. In these situations, it may be easier for the person to satisfy the 20-year involvement in farming test.

 

 

    VEA

Eligible interest in a sugarcane farm

Subsection 5PAA(5) VEA

Eligible interest in a relevant sugarcane farm asset

Subsection 5PAA(6) VEA

VEA  (go back)

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.

 

 

According to subsection 5PAA(1) of the VEA, a sugarcane farm is a farm that is used predominantly for the purposes of a sugarcane farm enterprise .

 

 

According to subsection 5PAA(1) of the VEA, a sugarcane farm is a farm that is used predominantly for the purposes of a sugarcane farm enterprise .

 

 

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