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Legislative Assembly for the ACT: 2004 Week 06 Hansard (Thursday, 24 June 2004) . . Page.. 2764 ..

(2) In subsection (1):

required percentage, for a club, means—

(c) if the Minister determines a percentage under subsection (3) for the club for a financial year—the percentage determined; or

(d) in any other case—

(i) for the financial year beginning 1 July 2004—7%; or

(ii) for the financial year beginning 1 July 2005—8%; or

(iii) for the financial year beginning 1 July 2006—9%; or

(iv) for the financial year beginning 1 July 2007 and each following financial year—10%.

Schedule 7

Gaming Machine Bill 2004

Amendment moved by Ms Dundas

1

New clause 159A

Page 102, line 5—

insert

159A Tax  adjustment in relation to GST for clubs

This section applies if a licensee that is a club paid to the Commonwealth, during a month, an amount in relation to the licensee’s liability for a global GST amount (the GST paid).

If the GST paid is less than the club’s gross GMT for the month, the amount of gaming machine tax for which the licensee is liable is reduced by the GST paid.

If the GST paid is equal to or more than the club’s gross GMT for the month, the licensee is not liable for gaming machine tax for the month.

In this section:

global GST amount—see the GST provision.

gross GMT, for a club, is the amount of gaming machine tax for which the club would, apart from this section, be liable.

GST provision means the A New Tax System (Goods and Services Tax) Act 1999 (Cwlth), section 126-10 (which deals with tax on gambling revenue).

Schedule 8

Gaming Machine Bill 2004

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