Racing and Gaming Amendment Regulations 2000
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 Racing and Gaming Act 1952 .7 August 2000
w. j. e. cox
Lieutenant-Governor
By His Excellency’s Command,
david crean
For and on behalf of the Minister for Racing and Gaming
1Short titleThese regulations may be cited as the Racing and Gaming Amendment Regulations 2000 . 2CommencementThese regulations take effect on the day on which the National Taxation Reform (Commonwealth-State Relations) Miscellaneous Amendments Act 2000 commences. 3Principal RegulationsIn these regulations, the Racing and Gaming Regulations 1976 are referred to as the Principal Regulations. 4Regulation 114C rescindedRegulation 114C of the Principal Regulations is rescinded. 5Regulation 114E substitutedRegulation 114E of the Principal Regulations is rescinded and the following regulation is substituted: 114EPrescribed percentage for purposes of section 57Q of Act (1) For the purposes of section 57Q(1)(a)(i) of the Act, the prescribed percentage is 11.37%. (2) For the purposes of section 57Q(1)(b)(i) of the Act, the prescribed percentage is 11.37%. (3) For the purposes of section 57Q(1)(c)(i) of the Act, the prescribed percentage is 12.62%. (4) For the purposes of section 57Q(1)(d)(i) of the Act, the prescribed percentage is 12.62%. (5) For the purposes of section 57Q(1)(e)(i) of the Act, the prescribed percentage is 12.08%. (6) For the purposes of section 57Q(1)(f)(i) of the Act, the prescribed percentage is 14.15%. (7) For the purposes of section 57Q(1)(g)(i) of the Act, the prescribed percentage is 11.44%. (8) For the purposes of section 57Q(1)(h)(i) of the Act, the prescribed percentage is 12.81%. (9) For the purposes of section 57Q(1)(i)(i) of the Act, the prescribed percentage is 12.62%. (10) For the purposes of section 57Q(1)(j)(i) of the Act, the prescribed percentage is 13.90%. 6Regulation 122HA insertedAfter regulation 122H of the Principal Regulations, the following regulation is inserted in Division XI: 122HASet off for goods and services tax (1) The Board may set off against the amount payable under regulation 122H any goods and services tax paid during the relevant month arising in respect of the Triwin competition. (2) If, in any month, the amount of goods and services tax paid in respect of a Triwin competition by the Board exceeds the amount payable under regulation 122H in respect of that competition, that excess may be set off in any subsequent month in the same financial year against the amount payable under that regulation. (3) The amount of any credit given to the Board for goods and services tax paid in respect of a Triwin competition in any financial year is limited to the amount payable under regulation 122H in respect of that competition for that financial year. (4) Within 14 days after the end of a financial year, the Board must submit a return to the Treasurer stating – (a) the amount payable under regulation 122H in respect of a Triwin competition for that financial year; and (b) the amount of goods and services tax paid in that financial year in respect of a Triwin competition; and (c) the amount of credit given in respect of the amount payable under regulation 122H for a Triwin competition for that financial year. (5) Subject to subregulation (3) , where the amount of goods and services tax paid in respect of a Triwin competition for a financial year by the Board exceeds the amount of credit given in respect of that competition for that financial year, the difference between those amounts is to be credited to the Board at the time of the next payment of tax required under these regulations. (6) Subject to subregulation (3) , where the amount of goods and services tax paid in respect of a Triwin competition for a financial year by the Board is less than the amount of credit given in respect of that competition for that financial year, the difference between those amounts is to be paid by the Board at the time of the next payment of tax required under these regulations. (7) The provisions of the Taxation Administration Act 1997 apply to this regulation and, for that purpose, this regulation is taken to be a taxation law within the meaning of that Act. 7Regulation 122P amended (Prescribed percentage for purposes of section 57RA of the Act)Regulation 122P of the Principal Regulations is amended as follows: (a) by omitting from paragraph (a) "4.5 per cent" and substituting "2.88%"; (b) by omitting from paragraph (b) "10 per cent" and substituting "11.62%"; (c) by omitting from paragraph (c) "2.5 per cent" and substituting "2.5%". Displayed and numbered in accordance with the Rules Publication Act 1953.
Notified in the Gazette on 16 August 2000
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
(a) to make provision for goods and services tax liability to be set off against the amount payable in respect of a Triwin competition under those regulations; and (b) by prescribing percentages for the purposes of section 57Q(1) of the Racing and Gaming Act 1952 .