Definitions for division
35 Definitions for division
In this division—
annual betting tax amount, for a betting operator, for a financial year, means—
if the taxable wagering revenue of the betting operator for the financial year is equal to or less than the annual threshold amount—nil; or
otherwise—the amount worked out by applying the taxing rate to the amount by which the taxable wagering revenue of the betting operator for the financial year is more than the annual threshold amount.
relevant liability, of a betting operator, for a financial year, means each of the following—
the betting operator’s monthly liability for any month of the financial year for which the betting operator was required under section 50 to lodge a monthly return;
the betting operator’s final liability for any final period during the financial year for which the betting operator was required under section 54 to lodge a final return.
This Act’s bill:Explanatory memorandumSecond reading speech
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