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Total net value
According to ssection 49R of the VEA, the total net value of a transferred sugarcane farm and relevant sugarcane farm assets is calculated as follows:
market value of the sugarcane farm assets minus sugarcane farm debts
For the full definition of total net value, refer to section 49R.
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, 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.
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