Commonwealth Consolidated Acts

FRANCHISE FEES WINDFALL TAX (COLLECTION) ACT 1997 - SECT 6

  (1)   A taxable amount is any amount that meets all the following conditions:

  (a)   a State is liable to repay the amount to a person (the taxpayer ) because a State franchise law is wholly or partly invalid because of section   90 of the Constitution;

  (b)   the amount is by way of repayment of an amount paid under the State franchise law before 5   August 1997 in respect of a licensing period commencing before 5   August 1997;

  (c)   the amount is claimed by the taxpayer from the State, or a court orders the State to pay the amount to the taxpayer.

  (2)   A taxable amount is reduced by deducting any part of it that a State would have been liable to repay even if the State franchise law were wholly valid.

Example:   An amount that is repayable solely because of an overpayment by the taxpayer would be deducted.