162AGaming machine tax rebate—financial year

162A Gaming machine tax rebate—financial year (1) A licensee is entitled to a rebate of gaming machine tax (a GMT rebate) for a financial year if the licensee is a small or medium club, or is part of a small or medium club group, for the year. (2) The amount of the GMT rebate for the licensee is 50% of the licensee’s GMT liability for the financial year. (3) However, if the licensee’s gross revenue in relation to the operation of gaming machines under all authorisation certificates held by the licensee is more than $4 000 000 for the financial year, the amount of the GMT rebate for the licensee under subsection (2) is reduced by $0.50 for each dollar that the licensee’s gross revenue for the financial year exceeds $4 000 000. A licensee’s gross revenue for the 2020-2021 financial year is $4 350 000. The amount of GMT rebate the licensee is entitled to under s (2) is $359 125. The amount by which the rebate is reduced under s (3) is $175 000. Therefore, the amount of GMT rebate for the licensee is $184 125. (4) The GMT rebate applies to reduce the amount of the licensee’s gaming machine tax liability for the financial year. GMT liability, for a licensee, means the licensee’s gaming machine tax liability worked out under section 159 on the licensee’s gross revenue that is not more than $4 000 000 from the operation of gaming machines under all of the licensee’s authorisation certificates.