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Identifying Date of Transfer
Date of transfer is date legal title passed
The date that transfer of a sugarcane farm is effected is the date that legal title is passed. This is shown on the certificate of title. The earliest possible date that a sugarcane farmer could be considered for eligibility under RASF is the date of transfer of the legal title to the land.
Date of transfer where series of transactions involved
A sugarcane farm may be transferred through a series of transactions (for example, farm land, then business equipment, etc). Where this occurs the effective date of transfer under RASF is the date of transfer of legal title to the land. The date of transfer of legal title to the land is usually the later date.
Transfer of equitable interest separate to transfer of title
Where a sugarcane farmer transfers sugarcane farm property and other chattels on a particular date, they dispose their equitable interest but not the legal title. Transfer of legal title is a separate transaction involving registration with the Land Titles Office within the relevant State or Territory. In some cases, transfer of legal title could occur at a much later date than transfer of equitable interest.
Section 5PAA(8) VEA
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 .