Commonwealth Consolidated Regulations

[Index] [Table] [Search] [Search this Regulation] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

INCOME TAX (FARM MANAGEMENT DEPOSITS) REGULATIONS 1998 - REG 7

Repayment of farm management deposit in the event of a natural disaster

         (1)   For paragraph 393-40 (3A) (b) of the 1997 Act, this regulation sets out the circumstances that are to be satisfied in relation to a repayment of the whole or a part of a farm management deposit.

Note    Paragraph 393-40 (3A) (b) relates to a repayment if natural disaster relief and recovery arrangements made by or on behalf of the Commonwealth apply.

         (2)   Recovery assistance has been provided:

                (a)    as a Category C measure, as defined in the Natural Disaster Relief and Recovery Arrangements determined by the Attorney-General on 21 March 2011; and

               (b)    in the form of a recovery grant for a primary producer, as described in those Arrangements.

         (3)   The recovery assistance was first provided during the 12 month period mentioned in subsection 393-40 (1) of the 1997 Act.

         (4)   The farm management deposit was repaid after the recovery assistance was first provided.




AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback