New South Wales Consolidated Acts

GAMING MACHINE TAX ACT 2001 - SECT 17

17 Tax rebate for ClubGRANTS expenditure

(1) If the Authority is satisfied, on such evidence as the Authority may require, that a proportion of prescribed profits has been applied by a registered club to community development and support, the amount of tax payable by the club under section 14 (3), (5), (6), (7) or (8) is by this section reduced by an amount equal to the amount so applied, except as provided by subsection (2).

(2) The amount by which tax payable under section section 14 (3), (5), (6), (7) or (8) is reduced by this section cannot exceed an amount equal to 1.85% of the prescribed profits.

Note: The combined effect of this subsection and the operation of section 17A (5) (that forwards 0.4% of the prescribed profits of each registered club to the ClubGRANTS Fund on behalf of clubs) is that the effective tax rebate rate is 2.25%.

(3) However, the amount of tax payable under section section 14 (3), (5), (6), (7) or (8) is not to be reduced by this section if the Authority is satisfied, on the information provided by a ClubGRANTS Local Committee in accordance with the ClubGRANTS guidelines, that the registered club claiming the reduction has not complied with the ClubGRANTS guidelines.

(4) In this section:
"ClubGRANTS Local Committee" means a committee established under the ClubGRANTS guidelines.
"prescribed profits" means so much of the profits from gaming machines kept on the premises of a registered club during a tax year as exceeds $1,000,000.