Document ID: chunk:federal_register_of_legislation:F2015L00068:front:0:p44
Version: federal_register_of_legislation:F2015L00068
Segment Type: other
Provision Reference: 
Character Range: 113120–115703

of the Act that that paragraph applies to an individual and a trust that is a controlled private trust in relation to the individual;
 (b) a determination under subsection 52ZZZH (2) of the Act that the value of a specified asset owned by a company or a trust is to be reduced by the whole or a specified part of a specified liability;
 (c) a determination under subsection 52ZZZJ (2) of the Act that, for the purposes of Subdivision K of Division 11A of Part IIIB of the Act, an asset that is owned by a company that is a controlled private company in relation to an individual, or a trust that is a controlled private trust in relation to an individual, is taken not to be controlled by the individual;
 (d) a determination under subparagraph 52ZZZK (2) (a) (ii) or (b) (ii) 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 52ZZZL (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 52ZZZL (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 52ZZZF (1) (f) of Act

5 Purpose of Part 2

  This Part sets out decision-making principles with which the Commission must comply in making a determination under paragraph 52ZZZF (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 Commission 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 52ZZZF (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