New South Wales Consolidated Acts

GAMING MACHINE TAX ACT 2001 - SCHEDULE 2A

SCHEDULE 2A – Arrangements for 2003 tax year

(Section 27A)

1 2003 tax year-definition

(1) This Schedule applies in respect of the period of 9 months commencing on:

(a) in the case of a hotelier-1 October 2003, or

(b) in the case of a registered club-1 December 2003.

(2) The period to which this Schedule applies is taken, for the purposes of this Act, to be a tax year (referred to in this Schedule as the "2003 tax year").

2 Instalment periods for 2003 tax year

(1) The 2003 tax year is taken, for the purposes of this Act, to be divided into 3 periods of 3 months:

(a) in the case of a hotelier-commencing on 1 October 2003, 1 January 2004 and 1 April 2004, and

(b) in the case of a registered club-commencing on 1 December 2003, 1 March 2004 and 1 June 2004.

(2) Each of those periods (referred to in this Schedule as a "2003 instalment period") is taken to be an instalment period for the purposes of this Act in respect of the 2003 tax year and section 7 applies accordingly.

(3) Section 10 applies in respect of the 2003 tax year as if a reference to the relevant 4 quarterly instalments were a reference to the 3 instalments payable for the 2003 tax year.

3 Part 3 does not apply to 2003 tax year

Part 3 does not apply in respect of the 2003 tax year.

4 Annual rate for hoteliers-2003 tax year

(1) If the profits from all gaming machines kept in a hotel in the 2003 tax year do not exceed $18,750, tax is payable on the profits at the rate of 5.91%.

(2) If the profits from all gaming machines kept in a hotel in the 2003 tax year exceed $18,750 but do not exceed $300,000, tax is payable:

(a) in the sum of $1,108.13, and

(b) on so much of the profits as exceeds $18,750, at the rate of 15.91%.

(3) If the profits from all gaming machines kept in a hotel in the 2003 tax year exceed $300,000 but do not exceed $750,000, tax is payable:

(a) in the sum of $45,855, and

(b) on so much of the profits as exceeds $300,000, at the rate of 25.91%.

(4) If the profits from all gaming machines kept in a hotel in the 2003 tax year exceed $750,000, tax is payable:

(a) in the sum of $162,450, and

(b) on so much of the profits as exceeds $750,000, at the rate of 30.91%.

5 Instalment rate for hoteliers

(1) If the profits from all gaming machines kept in a hotel in a 2003 instalment period do not exceed $6,250, the instalment payable is an amount equal to 5.91% of those profits.

(2) If the profits from all gaming machines kept in a hotel in a 2003 instalment period exceed $6,250 but do not exceed $100,000, the instalment payable is:

(a) the sum of $369.38, and

(b) an amount equal to 15.91% of the amount by which the profits exceed $6,250.

(3) If the profits from all gaming machines kept in a hotel in a 2003 instalment period exceed $100,000 but do not exceed $250,000, the instalment payable is:

(a) the sum of $15,285, and

(b) an amount equal to 25.91% of the amount by which the profits exceed $100,000.

(4) If the profits from all gaming machines kept in a hotel in a 2003 instalment period exceed $250,000, the instalment payable is:

(a) the sum of $54,150, and

(b) an amount equal to 30.91% of the amount by which the profits exceed $250,000.

6 Annual rate for registered clubs-2003 tax year

(1) If the profits from all gaming machines kept on the premises of a registered club in the 2003 tax year do not exceed $150,000, no tax is payable on the profits.

(2) If the profits from all gaming machines kept on the premises of a registered club in the 2003 tax year exceed $150,000 but do not exceed $750,000, tax is payable on so much of the profits as exceeds $150,000 at the rate of 10.91%.

(3) If the profits from all gaming machines kept on the premises of a registered club in the 2003 tax year exceed $750,000, tax is payable:

(a) in the sum of $65,460, and

(b) on so much of the profits as exceeds $750,000, at the rate of 17.16%, except as provided by Part 4.

7 Instalment rate for registered clubs

(1) If the profits from all gaming machines kept on the premises of a registered club in a 2003 instalment period do not exceed $50,000, no instalment is payable.

(2) If the profits from all gaming machines kept on the premises of a registered club in a 2003 instalment period exceed $50,000 but do not exceed $250,000, the instalment payable is an amount equal to 10.91% of the amount by which the profits exceed $50,000.

(3) If the profits from all gaming machines kept on the premises of a registered club in a 2003 instalment period exceed $250,000, the instalment payable is:

(a) the sum of $21,820, and

(b) an amount equal to 15.66% of the amount by which the profits exceed $250,000.

(4) Despite anything to the contrary in this clause, the remainder of any tax that, under this Schedule, remains payable in respect of the whole of the 2003 tax year is payable at the time of payment of the last instalment for the year.

(5) Subclause (4) does not affect any provision of the Taxation Administration Act 1996 or any arrangement that may be entered into under that Act for the payment or compromise of any debt.

8 Application of Part 4

Part 4 applies in respect of the 2003 tax year as if a reference in section 17 to section 14 (3), (4) or (5) included a reference to clause 6 (3) (b) and as if the reference in section 17 (4) to $1,000,000 were a reference to $750,000.