79Duty on profits derived from approved gaming devices during the last three quarters of the duty period commencing on 1 December 1997

#### 79 Duty on profits derived from approved gaming devices during the last three quarters of the duty period commencing on 1 December 1997 79 Duty on profits derived from approved gaming devices during the last three quarters of the duty period commencing on 1 December 1997 > > (1) This clause applies to determine the duty payable on profits derived from approved gaming devices kept on the premises of a registered club during the remainder of the transitional year after 28 February 1998, and so applies to the exclusion of section 87. > > > (2) If the profits from all approved gaming devices kept on the premises of a registered club during the remainder of the transitional year after 28 February 1998 do not exceed $75,000, no duty is payable on the profits. > > > (3) If the profits from all approved gaming devices kept on the premises of a registered club during the remainder of the transitional year after 28 February 1998 exceed $75,000 but do not exceed $150,000, duty is payable on so much of the profits as exceeds $75,000 at the rate of 1%. > > > (4) If the profits from all approved gaming devices kept on the premises of a registered club during the remainder of the transitional year after 28 February 1998 exceed $150,000 but do not exceed $750,000, duty is payable— > > > > > (a) in the sum of $750, and > > > > > (b) on so much of the profits as exceeds $150,000 but does not exceed $750,000—at the rate of 20%. > > > (5) If the profits from all approved gaming devices kept on the premises of a registered club during the remainder of the transitional year after 28 February 1998 exceed $750,000, duty is payable— > > > > > (a) in the sum of $120,750, and > > > > > (b) on so much of the profits as exceeds $750,000—at the rate of 26.25%. > > > (6) This clause has effect subject to clause 80.