Betting Tax Act 2018
sec.40Amount of final liability
Start here
Get a plain-English read of sec.40
Turn the raw legal text into a practical explanation grounded in Betting Tax Act 2018.
sec.40 Amount of final liability
The betting operator’s liability ( final liability ) for betting tax for the final period is— if the betting operator does not have any previous liabilities for the final period—the adjusted betting tax amount for the betting operator for the final period; or if the total amount of the previous liabilities of the betting operator for the final period is equal to or more than the adjusted betting tax amount for the betting operator for the final period—nil; or if paragraphs (a) and (b) do not apply, the difference between— the adjusted betting tax amount for the betting operator for the final period; and the total amount of the previous liabilities of the betting operator for the final period.
- (a) if the betting operator does not have any previous liabilities for the final period—the adjusted betting tax amount for the betting operator for the final period; or
- (b) if the total amount of the previous liabilities of the betting operator for the final period is equal to or more than the adjusted betting tax amount for the betting operator for the final period—nil; or
- (c) if paragraphs (a) and (b) do not apply, the difference between— (i) the adjusted betting tax amount for the betting operator for the final period; and (ii) the total amount of the previous liabilities of the betting operator for the final period.
- (i) the adjusted betting tax amount for the betting operator for the final period; and
- (ii) the total amount of the previous liabilities of the betting operator for the final period.
- (i) the adjusted betting tax amount for the betting operator for the final period; and
- (ii) the total amount of the previous liabilities of the betting operator for the final period.