Act Repealed Latest version as at 14 August 1986 (as enacted) | 1986 No 47

Gaming Duties Amendment Act 1986

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Contents

Short Title and commencement

Totalisator duty

Lottery duty

Gaming Duties Amendment Act 1986

Public Act		1986 No 47
Date of assent		14 August 1986

	Title
1	Short Title and commencement
2	Totalisator duty
3	Lottery duty
	Administrative information

An Act to amend the Gaming Duties Act 1971

BE IT ENACTED by the General Assembly of New Zealand in Parliament assembled, and by the authority of the same, as follows:

1 Short Title and commencement

(1)

This Act may be cited as the Gaming Duties Amendment Act 1986, and shall be read together with and deemed part of the Gaming Duties Act 1971 (hereinafter referred to as the principal Act).

(2)

This Act shall come into force on the 1st day of October 1986.

2 Totalisator duty

(1)

Section 4 of the principal Act is hereby amended by repealing subsection (1) (as substituted by section 8(1) of the Finance Act 1977, and amended by section 3(1) of the Finance Act 1984), and substituting the following subsection:

“(1)

There shall be paid to the Crown a duty (in this Act referred to as totalisator duty)—

“(a)

In respect of every day of a race meeting conducted by a totalisator club, at the rate of 5.5 percent of the gross investments on that day’s races:

“(b)

In respect of every day of a race meeting conducted by a restricted totalisator club, at the rate of 5 percent of the amount (if any) by which the gross investments on that day’s races exceeds $300,000:

“(c)

At the rate of 5.5 percent of all special investments.”

(2)

Section 8(1) of the Finance Act 1977 and section 3(1) of the Finance Act 1984 are hereby consequentially repealed.

3 Lottery duty

Section 9 of the principal Act is hereby amended by omitting the expression “10”, and substituting the expression “5.5”.

This Act is administered in the Inland Revenue Department.

Gaming Duties Amendment Act 1986