Document ID: chunk:federal_register_of_legislation:F2024C01058:reg:7
Version: federal_register_of_legislation:F2024C01058
Segment Type: reg
Provision Reference: reg 7
Character Range: 17912–18625

7  Levy component

When an entity has a levy component
 (1) A leviable entity has a levy component for a financial year in respect of each sub‑sector of which the entity forms part at any time in the financial year.

Amount of a levy component
 (2) The amount of a leviable entity's levy component for a financial year in respect of a sub‑sector is:
 (a) if a provision of Part 3 provides that the basic levy component applies to the sub‑sector for the financial year—the basic levy component for the entity for the sub‑sector for the financial year; or
 (b) otherwise—the amount of the levy component worked out for the entity and the sub‑sector under Part 3.
Note: For the basic levy component, see section 9.