Commonwealth Consolidated Acts Commonwealth Consolidated Acts(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.
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