INCOME TAX ASSESSMENT REGULATIONS 1997

Schedule 1C  

(regulation 393-10 )

FARM MANAGEMENT DEPOSITS: STATEMENTS TO BE READ BY DEPOSITORS

Part 2 - Required statements  

1   Purpose of farm management deposits scheme  
The farm management deposits scheme is designed to allow individuals carrying on a primary production business in Australia to shift before-tax income from years when they need it least to years when it is most needed. The scheme helps those individuals to manage their exposure to adverse economic events and seasonal fluctuations.
Eligibility criteria apply to individuals carrying on a primary production business in Australia under the scheme.

Note:

Primary production business and carrying on a primary production business are explained in subsection 995-1(1) of the Act.




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