Betting Tax and Other Legislation Amendment Bill 2022 (Qld)

An Act to amend the Betting Tax Act 2018, the Payroll Tax Act 1971, the Racing Act 2002 and the Racing Regulation 2013 for particular purposes The Parliament of Queensland enacts—

Part 1 Preliminary

1 Short title This Act may be cited as the Betting Tax and Other Legislation Amendment Act 2022.

2 Commencement (1) Parts 2, 4 and 5 commence on 1 December 2022. (2) Part 3 commences on 1 January 2023, immediately after the commencement of the Revenue Legislation Amendment Act 2022, part 8, division 3.

Part 2 Amendment of Betting Tax Act 2018

3 Act amended This part amends the Betting Tax Act 2018.

4 Amendment of s 24 (Meaning of taxable wagering revenue ) Section 24(3)(b), 'section 28(3)'— omit, insert— section 28(2)

5 Amendment of s 28 (Amounts for general bets) (1) Section 28(2)— omit. (2) Section 28(3)— renumber as section 28(2).

6 Amendment of s 29 (Amount of bet generally) Section 29(2)— omit, insert— (2) Without limiting subsection (1), the amount of a bet that is a free bet includes the monetary value of the free component of the bet.

7 Insertion of new pt 6A After part 6— insert—

Part 6A Payments to Racing Queensland Board

59A Meaning of betting tax revenue (1) The betting tax revenue, for a financial year, is the amount worked out by— (a) adding the amounts mentioned in subsection (2); and (b) deducting, from the amount worked out under paragraph (a), the total of the amounts mentioned in subsection (3). (2) For subsection (1)(a), the amounts are— (a) the total amount of all liability for betting tax determined under assessments made during the financial year; and (b) all amounts of unpaid tax interest that accrues in relation to unpaid betting tax during the financial year; and (c) all amounts of penalty tax included in assessments of liability for betting tax made during the financial year. (3) For subsection (1)(b), the amounts are— (a) all amounts for which an entitlement to a refund arises under section 37 or 41 during the financial year; and (b) all betting tax amounts for which an entitlement to a refund arises under the Taxation Administration Act 2001, part 4, division 2 during the financial year; and (c) the amount of all relevant tax law liabilities the payment of which is waived under the Taxation Administration Act 2001, section 43 during the financial year; and (d) the amount of all relevant tax law liabilities written off as mentioned in the Taxation Administration Act 2001, section 44 during the financial year; and (e) all amounts of relevant penalty tax or relevant unpaid tax interest remitted under the Taxation Administration Act 2001, section 59 or 60 during the financial year; and (f) all amounts of interest paid on relevant overpaid amounts under the Taxation Administration Act 2001, section 61 or 61A during the financial year. (4) Words and expressions used in this section and the Taxation Administration Act 2001 have the same meaning in this section as they have in that Act. (5) In this section— betting tax amount means an amount paid under a tax law in relation to a liability for betting tax. relevant, in relation to a tax law liability, penalty tax, unpaid tax interest or overpaid amount, means in relation to a liability for betting tax.