(1) For the purposes of any provision of a retail shop
lease that relates to the determination of rent or a component of rent by
reference to turnover,
"turnover" does not include any of the following--
(a) the amount of losses
incurred in the resale or disposal of merchandise reasonably and properly
purchased from customers as trade-ins in the usual course of business,
(b)
the amount of deposits and instalments received on account of lay-bys, hire
purchase or credit sales, and which are refunded to customers,
(c) the amount
of a refund on a transaction when the proceeds of the transaction have been
included as part of turnover,
(d) the amount of any service, finance or
interest charges payable to any financier in connection with provision of
credit to customers (other than commissions on credit or store cards),
(e)
the price of merchandise exchanged between shops of the lessee if the exchange
is made solely for the convenient operation of the business of the lessee and
not for the purpose of concluding a sale made at or from the shop to which the
lease relates,
(f) the price of merchandise returns to shippers, wholesalers
or manufacturers,
(g) the proceeds of sale of the lessee's fixtures and
fittings after their use in the conduct of business at or from the retail shop
to which the lease relates,
(h) the amount of discounts allowed to customers
in the normal course of business,
(i) the amount of uncollected credit
accounts that are written off,
(j) the amount paid or payable by the lessee
as GST,
(k) the amount of delivery charges,
(l) the amount received from the
sale of lottery tickets and similar tickets (other than commission on those
sales),
(m) the amount of revenue from online transactions, other than online
transactions where the goods or services concerned are delivered or provided
from or at the retail shop (or the retail shopping centre of which the shop
forms part) or where the transaction takes place while the customer is at the
retail shop (whether or not the goods or services concerned are delivered from
or at the retail shop).
(2) The lease is taken to provide for any
underpayment or overpayment of rent (resulting from actual turnover differing
from projected or presumed turnover) to be adjusted within 1 month after the
lessee requests the lessor in writing for such an adjustment and provides the
lessor with such information as the lessor may reasonably require to make the
adjustment.
(3) The lessee may make a request for such an adjustment only
once in the first 12 months of the lease term and thereafter only at intervals
of not less than 12 months following the first request for an adjustment under
the lease. This subsection does not prevent the lease providing for, or the
parties otherwise agreeing to, more frequent adjustments than are provided for
by this section.
(4) For the purposes of this section, the concept of
"turnover" includes gross takings, gross receipts, gross income and similar
concepts.
