The Guides to Social Policy Law is a collection of publications designed to assist decision makers administering social policy law. The information contained in this publication is intended only as a guide to relevant legislation/policy. The information is accurate as at the date listed at the bottom of the page, but may be subject to change. To discuss individual circumstances please contact Services Australia. Notional Ordinary Income - Net Value of a Farm

Net value of a person's farm

The net value of a person's farm is the value of:

  • the farm, PLUS
  • the land, improvements, livestock plant and machinery, MINUS
  • encumbrances (1.1.E.108).

The farm value does NOT include the value of a person's:

  • principal home, AND
  • household contents and personal effects (1.1.P.235), AND
  • motor vehicle.

Act reference: SSAct section 11A(1) Principal home

Policy reference: SS Guide 4.1 Deprivation of income & assets, Encumbrances & loans against assets, 4.7 Business Structures, Primary Production & pre-01/01/2002 Assessment of Trusts & Private Companies

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