11Offset of betting tax paid by totalizator licensee

#### 11 Offset of betting tax paid by totalizator licensee 11 Offset of betting tax paid by totalizator licensee > > (1) (Repealed) > > > (2) A totalizator licensee is entitled to an offset against the betting tax payable by the licensee under sections 8 and 10 of an amount equal to the sum of— > > > > > (a) 15% of the excluded commission for the day concerned, and > > > > > (b) 15% of the excluded net earnings for the day concerned. > > > (3) If, in respect of any financial year, a totalizator licensee’s excluded commissions for the financial year exceed the sum of the amounts of excluded commission for each day of the financial year, the Chief Commissioner is to pay to the totalizator licensee an amount equal to 15% of the difference. > > > > Note— > > > > Section 111 of the [Taxation Administration Act 1996](/view/html/inforce/current/act-1996-097) provides that if the Chief Commissioner is authorised or required to pay an amount under any taxation law, the amount is to be paid from the Consolidated Fund which is appropriated to the necessary extent. > > > (4) If, in respect of any financial year, a totalizator licensee’s excluded net earnings for the financial year exceed the sum of the amounts of excluded net earnings for each day of the financial year, the Chief Commissioner is to pay to the totalizator licensee an amount equal to 15% of the difference. > > > > Note— > > > > Section 111 of the [Taxation Administration Act 1996](/view/html/inforce/current/act-1996-097) provides that if the Chief Commissioner is authorised or required to pay an amount under any taxation law, the amount is to be paid from the Consolidated Fund which is appropriated to the necessary extent. > > > (5) Nothing in this section requires a totalizator licensee to pay betting tax for any period before the offset under this section is applied to that liability. > > > > Note— > > > > Division 2 of Part 6 of the [Taxation Administration Act 1996](/view/html/inforce/current/act-1996-097) enables the Chief Commissioner to approve special arrangements for the lodging of returns and payment of tax under taxation laws. > > > (6) For the avoidance of doubt, the reference in section 70 (2) (a) of the [Totalizator Act 1997](/view/html/inforce/current/act-1997-045) to a total amount of betting tax payable by TAB Limited under sections 8–10 of this Act in respect of a quarter does not include any offset under this section. > > > (7) In this section— > > > > approved betting activity has the same meaning as in section 10. > > > > excluded commission, for a period, means the lesser of the following— > > > > > (a) the total amount of commission deducted (under section 69 of the [Totalizator Act 1997](/view/html/inforce/current/act-1997-045)) from the amounts invested with the licensee in totalizators during the period concerned by investors who were not, at the time of the investment, located in NSW, > > > > > (b) 5.5% of the total commission deducted (under section 69 of the [Totalizator Act 1997](/view/html/inforce/current/act-1997-045)) from the total amount invested with the licensee in totalizators during the period concerned by all investors. > > > > excluded net earnings, for a period, means the lesser of the following— > > > > > (a) the total amount of net earnings from bets placed with the totalizator licensee by persons who were not, at the time the bet was placed, located in NSW in respect of approved betting activities conducted by the licensee during the period concerned, > > > > > (b) 4% of the total amount of net earnings from all bets placed with the totalizator licensee in respect of approved betting activities conducted by the licensee during the period concerned. > > **s 11:** Rep 2008 No 62, Sch 2.2 \[2\]. Ins 2010 No 132, Sch 3 \[1\]. Subst 2018 No 69, Sch 1 \[3\]. Am 2022 No 32, Sch 1\[5\]–\[7\].