(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 and simulated racing events during that month less –

(a) the total of all prizes paid out to the winning players and any unclaimed winnings paid pursuant to section 76ZRA during that month in respect of simulated games and simulated racing events (other than prizes paid from a jackpot prize pool); and

(b) the total of amounts determined under the rules of the simulated games and simulated racing events for payment in respect of that total amount wagered into a jackpot prize pool;

jackpot means winnings payable from money that accumulates as contributions are made to a jackpot 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 Commissioner of State Revenue 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.

(4)  .  .  .  .  .  .  .  .  

(5)  .  .  .  .  .  .  .  .  

(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.

(6B)  The tax payable in relation to a month and the gaming business conducted in respect of a simulated racing event endorsement is 15% 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)  .  .  .  .  .  .  .  .  

(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.

(9)  The holder of a Tasmanian gaming licence who is liable to pay tax in respect of that licence under Division 1A of Part 9 is only liable to pay that tax in relation to gaming business conducted in respect of any of the following endorsements on the licence:

(a) sports betting endorsement;

(b) race wagering endorsement;

(c) betting exchange endorsement;

(d) totalizator endorsement.