Amount of tax
7 Amount of tax
General
The amount of tax imposed by subsection 6(1) on the issue of a transmitter licence is the total of the individual transmitter amounts for the transmitters covered by the licence immediately after the licence came into force.
The amount of tax imposed by subsection 6(1) or (2) on an anniversary of the day a transmitter licence came into force is the total of the individual transmitter amounts for the transmitters covered by the licence at the start of the anniversary.
The amount of tax imposed by subsection 6(3) on a transmitter licence ceasing to be in force during a financial year is worked out using the following formula:
where:
amount of excess means the amount of the excess mentioned in paragraph 6(3)(d).
days in period of variation means the number of days in the period:
beginning at the start of the day after the first or only occasion on which the licence was varied as mentioned in paragraph 6(3)(c); and
ending at the end of the day before the licence ceased to be in force.
days in the financial year means the number of days in the financial year.
Transitional
The amount of tax imposed by subsection 6(5) on the holding of a transmitter licence at the start of 1 July 2017 is worked out using the following formula:
where:
amount of anniversary tax means the amount of tax that would be imposed by subsection 6(2) on a particular anniversary of the day the transmitter licence came into force, if it were assumed that 1 July 2017 were that particular anniversary.
pre‑anniversary days means the number of days in the period:
beginning at the start of 1 July 2017; and
ending at the start of the anniversary of the day the licence came into force that occurs during the financial year beginning on 1 July 2017.
This Act’s bill:Explanatory memorandumSecond reading speech
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