67ERequirements for trustee of a trust (other than a discretionary trust or superannuation trust) or unit trust scheme

67E Requirements for trustee of a trust (other than a discretionary trust or superannuation trust) or unit trust scheme For the purposes of section 67(1)(b)(v), the requirements for an owner who is the trustee of a trust (other than a discretionary trust or superannuation trust) to which the land is subject or a unit trust scheme to which the land is subject are that— (a) the trustee carries on the business of primary production referred to in section 67(1)(a)(iii); and (b) the principal business of the trust or unit trust scheme is that business; and (c) each beneficiary of the trust or unitholder (as the case requires) is a natural person who is entitled under the trust deed to an annual distribution of the trust income; and (d) at least one of the beneficiaries of the trust or unitholders (as the case requires), or a relative of at least one of the beneficiaries or unitholders, is normally engaged in a substantially full-time capacity in that business. S. 67F inserted by No. 46/2019 s. 25.