Primary production enterprise means a business in Australia that consists of [glossary:primary production:265].

For a primary production trust arrangement to qualify for the primary production concession, more than 70% of the net value of the [glossary:asset:296] of the trust (excluding the net value of the [glossary:principal home:349] of the farmer if it is owned by the trust and on the primary production land) must relate to assets used wholly or principally for the purpose of carrying on a primary production enterprise.