1208W
In forceNet value of asset
Volume 4Chapter 3, Part 3.12A to Chapter 6 (sections 1157A to 1263), Schedule 1A
Chapter 3General provisions relating to payability and rates
Part 3.18Means test treatment of private companies and private trusts
Division 11Concessional primary production trusts
1208W Net value of asset
(1)
For the purposes of this Division, the net value of an asset is the value of the asset, without any reduction other than a reduction under subsection (2).
(2)
The Secretary may, by writing, determine that the value of a specified asset is to be reduced by the whole or a specified part of a specified liability.
(3)
A determination under this section has effect accordingly.
(4)
In making a determination under this section, the Secretary must comply with any relevant decision‑making principles.
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