Tasmanian Consolidated Acts Tasmanian Consolidated Acts
(1) In this section –
"cumulative gross profits" means gaming revenue derived by a licensed provider during a prescribed period;
"gaming revenue", in relation to a month, means the total amount wagered with a licensed provider on simulated games during that month less –(a) the total of all prizes paid out to the winning players or under section 149 during that month in respect of simulated games (other than prizes paid from a jackpot special prize pool); and
(b) the total of amounts determined under the rules of the simulated games for payment in respect of that total amount wagered into a jackpot special prize pool;
"jackpot" means winnings payable from money that accumulates as contributions are made to a jackpot special prize pool;
"monthly gross profits" means gaming revenue derived by a licensed provider during the month in relation to which tax is payable under this section;
"prescribed period", in relation to a month for which tax is payable under this section, means the period –(a) commencing on the first day of the financial year in which that month occurs; and
(b) ending at the end of that month.
(2) For the purposes of the definition of "gaming revenue" , if the amount of all prizes paid by the licensed provider exceeds the total of gaming revenue received in any month, the amount of the excess may be counted as prizes payable in the next or a subsequent month.
(3) Subject to section 150AB, a licensed provider must, where this section so provides, pay to the Treasurer in relation to each month during which the Tasmanian gaming licence is in force a tax relating to the gaming business conducted in respect of each gaming endorsement endorsed on the licence.
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(6) The tax payable in relation to a month and the gaming business conducted in respect of a simulated gaming endorsement in relation to wagers from persons in Australia is –
(a) if the cumulative gross profits of the licensed provider are or do not exceed $10 000 000, 20% of the monthly gross profits; or
(b) if the cumulative gross profits of the licensed provider exceed $10 000 000 but are or do not exceed $20 000 000, the total of –
(i) 20% of that part of the monthly gross profits derived during that part of that month occurring before the cumulative gross profits so exceeded $10 000 000; and
(ii) 17.5% of that part of the monthly gross profits derived during that part of that month occurring when and after the cumulative gross profits so exceeded $10 000 000; or
(c) if the cumulative gross profits of the licensed provider exceed $20 000 000, the total of –
(i) 20% of that part of the monthly gross profits derived during that part of that month occurring before the cumulative gross profits so exceeded $10 000 000; and
(ii) 17.5% of that part of the monthly gross profits derived during that part of that month occurring when and after the cumulative gross profits so exceeded $10 000 000 but before those cumulative gross profits so exceeded $20 000 000; and
(iii) 15% of that part of the monthly gross profits derived during that part of that month occurring when and after the cumulative gross profits so exceeded $20 000 000.
(6A) The tax payable in relation to a month and the gaming business conducted in respect of a simulated gaming endorsement in relation to wagers from persons elsewhere than in Australia is 4% of the monthly gross profits.
(7) The tax payable in relation to a month and the gaming business conducted in respect of a major lottery endorsement is 35.55% of the licensed provider's turnover, or such other amount as may be prescribed by the regulations to take account of the effect of the goods and services tax.
(7A) The tax payable in relation to a month and the gaming business conducted in respect of a betting exchange endorsement is as follows:
(a) 10% of the monthly betting exchange commission that the licensed provider is entitled to in respect of brokered wagering events held outside Australia;
(b) 15% of the monthly betting exchange commission that the licensed provider is entitled to in respect of brokered wagering events held in Australia.
(8) A licensed provider must pay the tax payable in relation to a month not later than 7 days after the end of that month.