26‑5 Value of grain26‑5 Value of grain

26‑5 Value of grain

The value of grain is: (a) for grain that is sold other than for sowing: (i) for grain not sold in a pool—the sale price of the grain, excluding handling, storage, transport and free on board costs; or (ii) for a quantity of grain sold in a pool—the amount paid for that quantity, excluding handling, storage, transport and free on board costs; or (b) for grain that is sold for sowing—the market value of the grain, if it were not grain for sowing, on the day the grain is sold; or (c) for grain that is processed—the market value of the grain on the day the grain begins to be processed.

Note: Section 22 of the Act has the effect that the reference to the sale price of grain, or the amount paid for grain, is taken not to include the net GST.