INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
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Hide history noteThe expression assessable primary production income of a person means:
(a) assessable income derived by the person in the course of carrying on a business of primary production; or
(b) other assessable income derived by the person as a result of the person carrying on a business of primary production. 676(2) Effect of private or domestic use on production of assessable primary production income.
(a) at a particular time a company, whose shares are not listed for quotation in the official list of a stock exchange in Australia or elsewhere, is using an item of property for the purpose of producing assessable primary production income; and
(b) at that time, an employee, director or member of the company, or a relative of any of those people, is using the item for a private or domestic purpose that is not incidental to the purpose of producing the assessable primary production income;
the item is taken not to be used at that time as mentioned in paragraph (a).
676(3) Deemed use of minimum tillage equipment for producing assessable primary production income.(a) in performing a contract, a person uses minimum tillage equipment; and
(b) the use is for the purpose of producing assessable income that is not assessable primary production income;
the use is taken to be for the purpose of producing assessable primary production income.
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