Determination of levy
166 Determination of levy
The Minister, by notice not later than 31 March in each year, may determine the levy for the following financial year.
The levy is to be expressed as a percentage amount.
For the purposes of the financial year in which this section commences, the Minister is to be taken to have made a determination under subsection (1) that the levy is 4%.
The Minister may not under subsection (1) determine the levy for a financial year to be more than 4%.
In determining the amount of a levy for a financial year, the Minister is to take into account – the expected degree of payments and other expenses the Commissioner will be required to pay in the financial year; and the amount of any other money that is expected to be received by the Commissioner in the financial year; and the period during which payment of the levy is likely to be required; and any deficit or surplus projected to occur at the end of the financial year; and any other matters that are prescribed.
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