Commonwealth Consolidated Acts

FRANCHISE FEES WINDFALL TAX (COLLECTION) ACT 1997 - SECT 7

  (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).