Entitlement to annual refund amount
37 Entitlement to annual refund amount
This section applies if the total amount of the relevant liabilities of the betting operator for the financial year is more than the annual betting tax amount for the betting operator for the financial year.
The betting operator is entitled to a refund of the amount (the annual refund amount) of the difference between—
the total amount of the relevant liabilities of the betting operator for the financial year; and
the annual betting tax amount for the betting operator for the financial year.
However, the betting operator is not entitled to a refund under subsection (2) more than 5 years after the assessment of the betting operator’s annual liability for the financial year is made.
Subsection (2) is subject to section 56.
This section does not apply in relation to a reassessment of the betting operator’s annual liability for the financial year.
Note—
See the Taxation Administration Act 2001, part 4, division 2 in relation to entitlement to refunds on reassessments.
This section applies despite the Taxation Administration Act 2001, section 36.
This Act’s bill:Explanatory memorandumSecond reading speech
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.