Document ID: chunk:federal_register_of_legislation:F2017L00219:body:0:p2
Version: federal_register_of_legislation:F2017L00219
Segment Type: other
Provision Reference: 
Character Range: 2560–5171

of the Act that a specified percentage, lower than 100%, is the adjusted net value of an asset controlled by an individual;
 (e) a determination under subparagraph 1209 (1) (b) (ii) of the Act that, for a particular tax year, a specified percentage, lower than 100%, of the net income of a primary production enterprise carried on by a company that was a controlled private company in relation to an individual throughout that tax year is to apply in relation to the individual and the enterprise for that tax year;
 (f) a determination under subparagraph 1209 (1) (c) (ii) of the Act that, for a particular tax year, a specified percentage, lower than 100%, of the net income of a primary production enterprise carried on by a trust that was a controlled private trust in relation to an individual throughout that tax year is to apply in relation to the individual and the enterprise for that tax year.

Part 2 Determination of application of paragraph 1208U (1) (f) of Act
5 Purpose of Part 2
  This Part sets out decision-making principles with which the Secretary must comply in making a determination under paragraph 1208U (1) (f) of the Act that that paragraph applies to an individual and a trust that is a controlled private trust in relation to the individual.
6 Long-term connection with primary production
 (1) The Secretary must consider whether the individual has had a long-term connection with primary production, in relation to which, for some reason, there has been an interruption in the period of 3 years immediately before the test time, with the result that, at that time, the requirements of subparagraphs 1208U (1) (e) (i), (ii) and (iii) of the Act are not able to be satisfied in relation to the individual.
 (2) For subsection (1), an individual is taken to have had a long-term connection with primary production if, for a period of 20 years (whether the period is continuous or is made up of 2 or more periods that total 20 years), the individual, or the individual's spouse:
 (a) has been involved in the carrying on of one or more primary production enterprises; and
 (b) has contributed a significant part of his or her labour to the carrying on of those primary production enterprises; and
 (c) has derived, either directly or indirectly, a significant part of his or her income from those primary production enterprises.
 (3) For the purposes of the application of subsection (2) to an individual at a particular time, a reference to the individual's spouse is a reference to a person who was the spouse of the individual at that time (whether or not the person is the spouse of