Document ID: chunk:federal_register_of_legislation:C2004A01344:clause:3_5paa:p2
Version: federal_register_of_legislation:C2004A01344
Segment Type: clause
Provision Reference: sch 3 cl 5PAA (pt 2/5)
Character Range: 45629–48118

interest.

Note: For eligible interest see subsection (5).

 (3) A person is a qualifying sugarcane farmer if:
 (a) the person has, has not ceased to have, and has continuously had for a period of at least 15 years, an eligible interest in a farm; and
 (b) the farm is a sugarcane farm and has been a sugarcane farm:
 (i) for at least the last 2 years; and
 (ii) at all times since 29 April 2004; and
 (c) during a period of 15 years, the person or the person's partner:
 (i) has contributed a significant part of his or her labour and capital to the development of a farm or farms; and
 (ii) has derived a significant part of his or her income from that farm or those farms; and
 (d) during at least the last 2 years:
 (i) that contribution of labour and capital has been to the development of a sugarcane farm or sugarcane farms; and
 (ii) that derivation of income has been from that sugarcane farm or those sugarcane farms.

Note: For eligible interest see subsection (5).

 (4) A person is also a qualifying sugarcane farmer if:
 (a) the person has an eligible interest in one or more than one sugarcane farm; and
 (b) the eligible interest in the farm, or each of the farms, was acquired by the person before 29 April 2004; and
 (c) the person or the person's partner or former partner has been involved in farming in Australia for a continuous period of 20 years, or for periods that together add up to 20 years, by:
 (i) contributing a significant part of his or her labour to farm enterprises; and
 (ii) deriving a significant part of his or her income from farm enterprises; and
 (d) during at least the last 2 years:
 (i) that contribution of labour has been to sugarcane farm enterprises; and
 (ii) that derivation of income has been from sugarcane farm enterprises.

Note: For eligible interest see subsection (5).

 (5) A person has an eligible interest in a sugarcane farm if:
 (a) the person has a legal estate or interest in the farm; or
 (b) the person has a transferable legal right or a transferable licence to occupy the farm for a particular purpose of the farm enterprise; or
 (c) as the mortgagor of a legal estate or interest in the farm (being an estate or interest that is not registered under a relevant State land law), the person has an equitable estate or interest in the farm; or
 (d) the person is a shareholder in a proprietary company that has a legal estate or interest in the farm; or
 (e) the value of the person's assets includes an amount calculated