Income classification on sale of land

[BBY]

Hi there.
I recently sold my share in some agricultural land (jointly held with siblings) and am wondering if the proceeds of the sale will be classifiable as agricultural income?
I am interested in undertaking forestry on leased land and require 25% of my income to be classified as 'agricultural' as one of the criteria to be eligible as a farmer.
Thanks

 

[ubiquitous]

No, this is clearly a capital gain.

Talk to your forestry company, accountant and the State Forest Service 1890 200233 about how to qualify for the farmer forestry premium. Its not easy...

 

[BBY]

Thanks for that, Ub. Much obliged.