Adjustment of casino tax
53 Adjustment of casino tax
Subsection (2) applies in relation to a casino licence if the casino tax for a month (the reference month) is a negative amount (a tax credit).
In working out the casino tax payable for the next month (the first adjustment month), the tax credit for the reference month is, to the extent possible, to be set off against the casino tax that, apart from this section, would be payable for the first adjustment month.
Subsection (4) applies if—
without applying subsection (2), the casino tax for the first adjustment month is a negative amount; or
after applying subsection (2), part of the tax credit (the tax credit balance) for the reference month has not been set off against casino tax for the first adjustment month.
In working out the casino tax payable for the month (the second adjustment month) after the first adjustment month, the tax credit, or tax credit balance, for the reference month, is, to the extent possible, to be set off against the casino tax that, apart from this subsection, would be payable for the second adjustment month.
In relation to casino tax for a month that is a negative amount, the operation of this section extends only to the 2 months after the month.
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