68Exemption of land being prepared for use for primary production

68 Exemption of land being prepared for use for primary production (1) Land is exempt land for a tax year if the Commissioner is satisfied that— (a) the land is being prepared for use primarily for primary production; and (b) the land will become exempt land under section 65, 66 or 67 within 12 months after the day on which the preparation referred to in paragraph (a) commenced. (2) The Commissioner may extend the period referred to in subsection (1)(b) by a further period of 12 months. Pt 4 Div. 2 Subdiv. 6 (Heading) inserted by No. 46/2019 s. 26(2). Subdivision 6—General