(1) For the purposes of this section, if:
(a) an individual ceases to be an attributable stakeholder of a trust on or after 1 January 2002; and
(b) immediately after the cessation, the trust was a concessional primary production trust in relation to the individual; and
(c) under section 1208M, as a result of the cessation, Division 2 of Part 3.12 and sections 198F to 198MA (inclusive) have effect as if the individual had disposed of an asset of the individual; and
(d) under Division 2 of Part 3.12 or sections 198F to 198MA (inclusive), as a result of the disposition, a particular amount is included in the value of the individual's assets for the period of 5 years that starts on the day on which the disposition took place;
then:
(e) the period referred to in paragraph (d) is the asset deprivation period in relation to the individual and the trust; and
(f) throughout the asset deprivation period, the trust is a special primary production trust in relation to the individual; and
(g) each one of the 5 years that constitutes the asset deprivation period is an asset deprivation year in relation to the individual and the trust.
(2) If:
(a) a trust (the first trust ) is a special primary production trust in relation to an individual; and
(b) the individual and/or the individual's spouse received one or more benefits (the first benefits ) from the trust during a period that is an asset deprivation year (the first asset deprivation year ) in relation to the individual and the trust;
subparagraph 1208U(1)(n)(ii) does not apply to the first benefits, so long as the sum of the following amounts is less than the amount specified in clause 38N of Schedule 1 to the A New Tax System (Family Assistance) Act 1999 (subject to any indexation under Schedule 4 to that Act):
(c) the total of the amount or value of the first benefits;
(d) if:
(i) another trust is a special primary production trust in relation to the individual; and
(ii) the asset deprivation period in relation to the individual and that other trust overlaps, in whole or in part, the first asset deprivation year; and
(iii) the individual and/or the individual's spouse received one or more benefits (the second benefits ) from that other trust during the period of the overlap;
the total of the amount or value of the second benefits;
(e) if:
(i) another trust is a special primary production trust in relation to the individual's spouse; and
(ii) the asset deprivation period in relation to the individual's spouse and that other trust overlaps, in whole or in part, the first asset deprivation year; and
(iii) the individual's spouse and/or the individual received one or more benefits (the third benefits ) from that other trust during the period of the overlap;
the total of the amount or value of the third benefits.
(3) Subsection (2) does not apply to any of the following benefits:
(a) food that:
(i) is derived from the first primary production enterprise referred to in section 1208U; and
(ii) is for the personal consumption of the individual or the individual's spouse;
(b) residential accommodation for the individual or the individual's spouse, where that accommodation is the principal home of the individual;
(c) if paragraph (b) applies--water, fuel, gas or electricity for use in that residential accommodation;
(d) any other non - cash benefit that is minor and provided on a basis that is infrequent and irregular.
(4) In this section:
"benefit" , in relation to a trust, means any remuneration or other benefit received from the trust otherwise than in the capacity of beneficiary of the trust.