Document ID: chunk:federal_register_of_legislation:C2004A00401:clause:1_55zd
Version: federal_register_of_legislation:C2004A00401
Segment Type: clause
Provision Reference: sch 1 cl 55ZD
Character Range: 15626–16619

55ZD  AGS must make tax‑equivalent payments to the Commonwealth
 (1) The Attorney‑General and the Finance Minister (acting jointly) may inform the CEO in writing of arrangements that are to apply to the AGS in relation to a tax‑equivalent payment to be made by the AGS to the Commonwealth in respect of each financial year.
 (2) The amount of the payment to be made under the arrangements is to be worked out having regard to the purpose of ensuring that the AGS does not enjoy net competitive advantages over its competitors because of:
 (a) the operation of section 55ZC (exemption from State and Territory taxation); or
 (b) any other exemption from taxation liability applying to the AGS.
 (3) The AGS must pay the amount to the Commonwealth within 4 months after the end of the financial year concerned, unless the Attorney‑General and the Finance Minister (acting jointly) determine a period other than 4 months within which the amount, or a specified part of the amount, must be paid.