Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Except where subsection (5) applies, the amount of depot licence charge payable in respect of the grant or renewal of a licence as set out in section 77U of the Customs Act is the annual rate of that charge determined in accordance with subsection (2).
(2) For the purposes of this section and subject to subsection (3), the annual rate of depot licence charge payable in respect of the grant or renewal of a licence as set out in section 77U of the Customs Act is:
(a) if the depot concerned was not licensed under Part IVA of that Act immediately before the commencement of the period for which the grant is sought--$4,000, or, if another amount not exceeding $6,000 is prescribed, that other amount; or
(b) if the depot concerned was licensed under Part IVA of that Act during the whole of the year (the reference year ) ending on the 31 March preceding the commencement of the financial year for which the renewal is sought and the depot handled not less than 300 transactions during the reference year--$4,000, or, if another amount not exceeding $6,000 is prescribed, that other amount; or
(c) if the depot concerned was licensed under Part IVA of that Act during the whole of the year (the reference year ) ending on the 31 March preceding the commencement of the financial year for which the renewal is sought and the depot handled less than 300 transactions during the reference year--$1,500, or, if another amount not exceeding $2,250 is prescribed, that other amount.
(3) If the depot concerned commenced to be licensed under Part IVA of the Customs Act during the course of the year (the reference year ) ending on the 31 March preceding the commencement of the financial year for which the renewal is sought and did not cease to be so licensed during that year, subsection (2) has effect as if:
(a) the depot had been licensed under that Part for the whole of the reference year; and
(b) the number of transactions handled by the depot during the reference year were worked out to the nearest whole number using the formula:
(4) In subsection (3):
"number of reference day transactions" is the total number of transactions handled by the depot during the reference days.
"days in the reference year" means:
(a) if paragraph (b) does not apply--365; or
(b) if the reference year is not constituted by 365 days--the number of days in the reference year.
"reference days" means the number of days in relation to a depot in the reference year during which the depot was licensed under Part IVA of the Customs Act.
(5) If a depot licence is granted for a period that is less than a year, the amount of depot licence charge payable as set out in section 77U in respect of that grant is the amount worked out using the formula:
where:
"annual rate" is the amount determined in accordance with subsection (2).
"licence days" is the number of days during which the licence is in force under that grant.
"days in the year" means:
(a) if paragraph (b) does not apply--365; or
(b) if the financial year in which the licence is in force is not constituted by 365 days--the number of days in that financial year.