Gaming machine tax
The Act increases the tax payable on gaming machines by hoteliers and registered clubs and changes the tax year in respect of which gaming machine taxes are payable.
The gaming machine tax payable by hoteliers and registered clubs has been increased with effect on the following dates:
(a) in the case of the gaming machine tax payable by hoteliers -1 July 2004,
(b) in the case of the gaming machine tax payable by registered clubs -1 September 2004.
The new rates will increase annually until 2010. The relevant rates are set out in Part 3 of the Act.
Under the Gaming Machine Tax Act 2001, gaming machine taxes are assessed on the basis of a tax year. At present, that tax year commences on 1 October for hoteliers and 1 December for registered clubs. As the new tax rates take effect on 1 July 2004 and 1 September 2004 respectively, it is necessary to bring forward the commencement of the 2004 tax year for both hoteliers and registered clubs.
Consequently, the tax year commencing in 2003 will be a period of 9 months only and special arrangements will apply to the payment of tax in that tax year. In particular, all annual tax thresholds will be reduced by 25 per cent, to allow for the shorter tax year. However, the amounts required to be paid in each three (3)-month instalment period will remain unchanged until the new rates take effect in 2004.
