7Reduction of taxable amount—liquor franchise fees

#### 7 Reduction of taxable amount—liquor franchise fees (1) If a taxable amount calculated under section 6 relates to a liquor franchise fee for which the licensing period ends after 6 August 1997, then the taxable amount is reduced by an amount calculated as follows:  (2) If: (a) a State franchise law required or permitted the payment by instalments of a liquor franchise fee for a licensing period (the actual licensing period); and (b) at least one of those instalments was payable after 6 August 1997; then this section applies as if each of the following periods were a separate licensing period (in place of the actual licensing period): (c) the period starting on the day on which an instalment was payable and ending immediately before the day on which the next instalment was payable; (d) the period starting on the day on which last instalment was payable and ending at the end of the actual licensing period. (3) In this section: > liquor franchise fee means a fee payable under a law specified in paragraph 4(2)(a), (e), (g), (h), (k), (o), (t) or (v).