Customs Act 1901
View history note
Hide history noteIf:
(a) a depot licence is cancelled before the end of a financial year; and
(b) the person or partnership (the former holder ) who held the licence before its cancellation has paid the depot licence charge for that financial year;
the former holder is entitled to a refund of an amount worked out using the formula in subsection (1A).
77W(1A)
For the purposes of subsection (1), the formula is:
| Annual rate × |
Post-cancellation days
Days in the year |
where:
annual rate
means the amount of $4,000, or, if another amount is prescribed under subsection
6(2)
of the
Customs Licensing Charges Act 1997
, that other amount.
(a) if the financial year in which the licence is in force is not constituted by 365 days - the number of days in that financial year; or
(b) otherwise - 365.
post-cancellation days
means the number of days in the financial year during which the depot licence is not in force following the cancellation of the licence.
77W(2) [Entitlement to full refund]
If the former holder has paid the depot licence charge in respect of the renewal of the licence for the following financial year, the former holder is entitled to a refund of the full amount of that charge.
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