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Relevant sugarcane farm assets
According to subsection 5PAA(1) of the VEA, relevant sugarcane farm assets in relation to a sugarcane farm, means any relevant farm asset or assets that are a produce of, or are used for the purposes of, a sugarcane farm enterprise.
According to subsection 5P(1) of the VEA, a relevant farm asset in relation to a farm, means any livestock, crop, plant or equipment that is a produce of, or is used for the purposes of, the farm enterprise.
- 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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