sec.59AMeaning of betting tax revenue

sec.59A Meaning of betting tax revenue

The betting tax revenue , for a financial year, is the amount worked out by— adding the amounts mentioned in subsection (2) ; and deducting, from the amount worked out under paragraph (a) , the total of the amounts mentioned in subsection (3) . For subsection (1) (a) , the amounts are— the total amount of all liability for betting tax determined under assessments made during the financial year; and all amounts of unpaid tax interest that accrues in relation to unpaid betting tax during the financial year; and all amounts of penalty tax included in assessments of liability for betting tax made during the financial year. For subsection (1) (b) , the amounts are— all amounts for which an entitlement to a refund arises under section 37 or 41 during the financial year; and all betting tax amounts for which an entitlement to a refund arises under the Taxation Administration Act 2001 , part 4 , division 2 during the financial year; and the amount of all relevant tax law liabilities the payment of which is waived under the Taxation Administration Act 2001 , section 43 during the financial year; and the amount of all relevant tax law liabilities written off as mentioned in the Taxation Administration Act 2001 , section 44 during the financial year; and all amounts of relevant penalty tax or relevant unpaid tax interest remitted under the Taxation Administration Act 2001 , section 59 or 60 during the financial year; and all amounts of interest paid on relevant overpaid amounts under the Taxation Administration Act 2001 , section 61 or 61A during the financial year. Words and expressions used in this section and the Taxation Administration Act 2001 have the same meaning in this section as they have in that Act. In this section— betting tax amount means an amount paid under a tax law in relation to a liability for betting tax. relevant , in relation to a tax law liability, penalty tax, unpaid tax interest or overpaid amount, means in relation to a liability for betting tax. s 59A ins 2022 No. 30 s 7 (sec.59A-ssec.1) The betting tax revenue , for a financial year, is the amount worked out by— adding the amounts mentioned in subsection (2) ; and deducting, from the amount worked out under paragraph (a) , the total of the amounts mentioned in subsection (3) . (sec.59A-ssec.2) For subsection (1) (a) , the amounts are— the total amount of all liability for betting tax determined under assessments made during the financial year; and all amounts of unpaid tax interest that accrues in relation to unpaid betting tax during the financial year; and all amounts of penalty tax included in assessments of liability for betting tax made during the financial year. (sec.59A-ssec.3) For subsection (1) (b) , the amounts are— all amounts for which an entitlement to a refund arises under section 37 or 41 during the financial year; and all betting tax amounts for which an entitlement to a refund arises under the Taxation Administration Act 2001 , part 4 , division 2 during the financial year; and the amount of all relevant tax law liabilities the payment of which is waived under the Taxation Administration Act 2001 , section 43 during the financial year; and the amount of all relevant tax law liabilities written off as mentioned in the Taxation Administration Act 2001 , section 44 during the financial year; and all amounts of relevant penalty tax or relevant unpaid tax interest remitted under the Taxation Administration Act 2001 , section 59 or 60 during the financial year; and all amounts of interest paid on relevant overpaid amounts under the Taxation Administration Act 2001 , section 61 or 61A during the financial year. (sec.59A-ssec.4) Words and expressions used in this section and the Taxation Administration Act 2001 have the same meaning in this section as they have in that Act. (sec.59A-ssec.5) In this section— betting tax amount means an amount paid under a tax law in relation to a liability for betting tax. relevant , in relation to a tax law liability, penalty tax, unpaid tax interest or overpaid amount, means in relation to a liability for betting tax.