New South Wales Consolidated Acts
[Index]
[Table]
[Search]
[Search this Act]
[Notes]
[Noteup]
[Previous]
[Next]
[Download]
[History]
[Help]
GAMING MACHINE TAX ACT 2001 - SECT 17
Tax rebate for ClubGRANTS expenditure
17 Tax rebate for ClubGRANTS expenditure
(1) If the Authority is satisfied, on such evidence as the Authority may
require, that a proportion of prescribed profits has been applied by a
registered club to community development and support, the amount of tax
payable by the club under section 14 (3), (5), (6), (7) or (8) is by this
section reduced by an amount equal to the amount so applied, except as
provided by subsection (2).
(2) The amount by which tax payable under
section 14 (3), (5), (6), (7) or (8) is reduced by this section cannot exceed
an amount equal to 1.85% of the prescribed profits. Note : The combined effect
of this subsection and the operation of section 17A (5) (that forwards 0.4% of
the prescribed profits of each registered club to the ClubGRANTS Fund on
behalf of clubs) is that the effective tax rebate rate is 2.25%.
(3) However,
the amount of tax payable under section 14 (3), (5), (6), (7) or (8) is not to
be reduced by this section if the Authority is satisfied, on the information
provided by a ClubGRANTS Local Committee in accordance with the ClubGRANTS
guidelines, that the registered club claiming the reduction has not complied
with the ClubGRANTS guidelines.
(4) In this section--
"ClubGRANTS Local Committee" means a committee established under the
ClubGRANTS guidelines.
"prescribed profits" means so much of the profits from gaming machines kept on
the premises of a registered club during a tax year as exceeds $1,000,000.
AustLII: Copyright Policy
| Disclaimers
| Privacy Policy
| Feedback