Document ID: chunk:federal_register_of_legislation:F2025L00058:clause:1_20
Version: federal_register_of_legislation:F2025L00058
Segment Type: clause
Provision Reference: sch 1 cl 20
Character Range: 46208–47625

20  Amount of tax payable – licence issued for period greater than 12 months, where subsection 6(3) of the Act applies
 (1) This item applies to a Part 4 licence where:
 (a) the licence has a licence period greater than 12 months; and
 (b) either:
 (i) the person applying for the licence made an election under subsection 6(4) of the Act that subsection 6(3) of the Act apply; or
 (ii) when the application was made for the licence, the licence was covered by a determination under subsection 6(1E) of the Act.
Amount of tax payable on licence issue
 (2) Subject to items 24 and 25, the amount of tax payable in relation to the issue of the licence is the yearly amount for the licence.
Amount of tax payable on holding of licence
 (3) Subject to items 24 and 25, the amount of tax payable in relation to the anniversary of the start day for the licence, other than the last such anniversary occurring during the licence period, is the yearly amount for the licence.
 (4) Subject to items 24 and 25, the amount of tax payable in relation to the last anniversary during the licence period of the start day for the licence (the last anniversary) is worked out as follows:
 (a) first, find the yearly amount for the licence;
 (b) second, multiply that yearly amount by the number of days in the period starting on the last anniversary and ending at the end of the licence period;
 (c) third, divide the result by 365.