Gaming Control Amendment (Foreign Games Tax Rate) Regulations 2008
I, the Governor in and over the State of Tasmania and its Dependencies in the Commonwealth of Australia, acting with the advice of the Executive Council, make the following regulations under the Gaming Control Act 1993 .
30 June 2008PETER G. UNDERWOOD
Governor
By His Excellency's Command,
MICHAEL AIRD
Treasurer
These regulations may be cited as the Gaming Control Amendment (Foreign Games Tax Rate) Regulations 2008 .
These regulations take effect on the day on which their making is notified in the Gazette.
In these regulations, the Gaming Control Regulations 2004 are referred to as the Principal Regulations.
4. Regulation 6A inserted
After regulation 6 of the Principal Regulations , the following regulation is inserted:6A. Foreign games permit tax rate
For the purposes of section 150AF(2) of the Act , the amount of tax payable on a foreign games permit holder's turnover on tickets sold in Tasmania in a foreign game during a month, taking into account the effect of the goods and services tax, is the percentage, of that turnover, calculated in accordance with the following formula:where –A is the percentage of the foreign games permit holder's turnover on the tickets in the foreign game during the month payable as tax under section 150AF(2) of the Act ;B is the percentage that is specified by the foreign games permit holder (in accordance with the foreign games permit holder's foreign games permit) as the rate of return to players, as winnings, of turnover on the tickets in the foreign game during the month;C is the rate of goods and services tax specified in section 4 of the A New Tax System (Goods and Services Tax Imposition – General) Act 1999 of the Commonwealth as being payable under the A New Tax System (Goods and Services Tax) Act 1999 of the Commonwealth.
Note: For example, if 60% is specified by the foreign games permit holder as the rate of return to players ("B") and 10% is the rate of goods and services tax payable ("C"), the formula is applied as follows:
Displayed and numbered in accordance with the Rules Publication Act 1953.
Notified in the Gazette on 9 July 2008
These regulations are administered in the Department of Treasury and Finance.
EXPLANATORY NOTE
(This note is not part of the regulation)
These regulations amend the Gaming Control Regulations 2004 by prescribing the tax rate that is payable by a foreign games permit holder in respect of the sale in Tasmania of tickets in a foreign game for which there is no tax and revenue sharing agreement under section 150B of the Gaming Control Act 1993 .