Document ID: chunk:federal_register_of_legislation:C2025C00162:clause:1a_1209
Version: federal_register_of_legislation:C2025C00162
Segment Type: clause
Provision Reference: sch 1A cl 1209
Character Range: 2619926–2621685

1209  Adjusted net primary production income
 (1) For the purposes of this Division, the adjusted net primary production income of an individual for a particular tax year is the sum of:
 (a) if the individual carried on a primary production enterprise throughout that tax year—100% of the net income of that primary production enterprise for that tax year; and
 (b) if a company carried on a primary production enterprise throughout that tax year and the company was a controlled private company in relation to the individual throughout that tax year:
 (i) 100% of the net income of that primary production enterprise for that tax year; or
 (ii) if the Secretary, by writing, determines a lower percentage in relation to the individual and the enterprise—that lower percentage of the net income of that primary production enterprise for that tax year; and
 (c) if a trust carried on a primary production enterprise throughout that tax year and the trust was a controlled private trust in relation to the individual throughout that tax year:
 (i) 100% of the net income of that primary production enterprise for that tax year; or
 (ii) if the Secretary, by writing, determines a lower percentage in relation to the individual and the enterprise—that lower percentage of the net income of that primary production enterprise for that tax year; and
 (d) if:
 (i) a business partnership carried on a primary production enterprise throughout that tax year; and
 (ii) the individual was a partner in the partnership throughout that tax year;
  the individual's share of the net income of that primary production enterprise for that tax year.
 (2) In making a determination under this section, the Secretary must comply with any relevant decision‑making principles.