Document ID: chunk:federal_register_of_legislation:F2017L01375:reg:7:p1
Version: federal_register_of_legislation:F2017L01375
Segment Type: reg
Provision Reference: reg 7 (pt 1/2)
Character Range: 9943–12797

7  Adjustment for variations during year before anniversary
 (1) This section applies to the uncapped individual transmitter amount for a transmitter covered by a transmitter licence at a particular time if:
 (a) the time occurs:
 (i) on an anniversary (the current anniversary) of the day the licence came into force; and
 (ii) after 1 July 2017; and
 (b) the licence was varied on one or more occasions during the period (the previous tax period) beginning at the latest of:
 (i) the end of the day the licence came into force; and
 (ii) the end of the last anniversary (if any) of the day the licence came into force that occurred before the current anniversary; and
 (iii) the end of 1 July 2017;
  and ending at the end of the day before the current anniversary.
 (2) The uncapped individual transmitter amount for the transmitter on the current anniversary must be increased or decreased in accordance with the following method statement:

      Adjustment Calculator
      This is how to increase or decrease the uncapped individual transmitter amount.
      Method statement
           Step 1. Work out the daily amount for each day in the previous tax period by:

                (a) working out the uncapped individual transmitter amount for the transmitter at the start of that day (disregarding this section); and
                (b) dividing it by the number of days in the financial year in which the current anniversary occurs.

                  Note: Under subsection (3), any indexation of the minimum uncapped individual transmitter amount and the dollars per kHz of spectrum bandwidth that occurs after the start of the previous tax period is disregarded for the purposes of this step.
           Step 2. Work out the uncapped individual transmitter amount for the transmitter at the start of the previous tax period (disregarding this section).
           Step 3. If the total of the daily amounts worked out under step 1 is greater than the amount worked out under step 2, increase the uncapped individual transmitter amount for the transmitter at the current anniversary by the difference.
           Step 4. Otherwise, decrease the uncapped individual transmitter amount for the transmitter at the current anniversary by the difference.
Example: On 1 January 2018, tax of $921,053.00 is imposed on a transmitter licence which authorises the operation of a high power UHF transmitter at a location with a medium population density. On 1 December 2018, the licence is amended to authorise medium power. On 1 January 2019, tax is payable on the licence again.
 The uncapped individual transmitter amount for the transmitter on 1 January 2019 worked out under section 6 of this instrument ($92,105.30, assuming there was no indexation on 1 July 2018) is decreased using the method statement in this subsection as follows:
(a) step 1