5Definitions

5 Definitions

Note: A number of expressions used in this instrument are defined in the Act, including the following:

(a) farm asset;
(b) farm enterprise;
(c) Social Security Act.

(1) In this instrument:

Act means the Farm Household Support Act 2014.

overall operating loss: see subsection 7(1).

related business, of a farm enterprise, has the meaning given by subsection (2).

(2) A business is a related business of a farm enterprise if: (a) the business is carried on principally for the purpose of providing goods or services within any of the agricultural, horticultural, pastoral, apicultural or aquacultural industries; and (b) the business is carried on, or effectively controlled, by a person who is: (i) a farmer in relation to the farm enterprise; or (ii) a partner of such a farmer; and (c) any of the following applies: (i) the business provides goods or services to the farm enterprise; (ii) the farm enterprise provides goods or services to the business; (iii) the business uses farm assets of the farm enterprise in the conduct of the business; (iv) the business acquires products of the farm enterprise for sale, use in manufacture, distribution or processing; (v) the farm enterprise acquires products of the business for sale, use in manufacture, distribution or processing.