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Eligible interest

    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 enterprise is a farm enterprise where:

  • a majority of the enterprise is undertaken for the purposes of farming commercial quantities of cane sugar, or
  • a significant proportion of the enterprise is undertaken for the purposes of growing commercial quantities of cane sugar, and the Commission has determined that there are special reasons why the farm enterprise should be treated as a sugarcane farm enterprise.

For the full definition, refer to subsection 5PAA(1).

 

 

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