13MAppropriation and payment of revenue to industry

#### 13M Appropriation and payment of revenue to industry 13M Appropriation and payment of revenue to industry > > (1) The Treasurer is, in respect of a financial year in which point of consumption tax was collected, to pay an amount equal to 33% of the prescribed amount to the following bodies— > > > > > (a) Racing New South Wales, > > > > > (b) Harness Racing New South Wales, > > > > > (c) Greyhound Racing New South Wales. > > > (2) The amount determined under subsection (1) is to be paid in quarterly instalments in the following proportions— > > > > > (a) to Racing New South Wales—72%, > > > > > (b) to Harness Racing New South Wales—15%, > > > > > (c) to Greyhound Racing New South Wales—13%. > > > > Note— > > > > The proportions specified in this subsection are the same as the proportions for the distribution of amounts under the Racing Inter-Code Deed dated 27 February 1998 between NSW Racing Pty Limited, the NSW Thoroughbred Racing Board, Harness Racing New South Wales and the Greyhound Racing Authority (NSW) as in force on the commencement of this section. > > > (3) If the Treasurer determines that a body was overpaid or underpaid in respect of any financial year, the Treasurer may deduct an amount from, or pay an extra amount with, a subsequent payment under this section to that body, as the case requires. > > > (4) Amounts required to be paid under this section are to be paid from the Consolidated Fund, which is appropriated accordingly. > > > (5) In this section— > > > > prescribed amount, for a financial year, means the amount of point of consumption tax payable under this Part during the financial year, less the amount of any offset against the point of consumption tax under section 13P. > > > > quarter means a period of 3 months ending on 31 March, 30 June, 30 September or 31 December. > > **s 13M:** Ins 2018 No 69, Sch 1 \[4\]. Am 2022 No 32, Sch 1\[10\] \[11\].