Gaming machine tax

Insight

Don’t miss this deferral deadline: gaming machine tax is due

Article by

Pitcher Partners
Pitcher Partners

Newcastle and Hunter

As you know there’s nothing ‘usual’ about 2020 so far, and keeping up with all of the new and revised deadlines is keeping all of us in hospitality on our toes.

So, don’t forget that deferred gaming machine tax is due on 1 October.

This was a change announced by the NSW Government in April 2020 as part of its economic stimulus package. It’s the tax normally paid by hotels for the assessment periods between 1 January 2020 and 30 June 2020.

But that’s not the only change to be aware of

Here’s something else to remember.

Payments that you’ve deferred won’t be collected in the usual way. That means no direct debits will be collected on the new due date.

“Clubs and hotels will need to set up a payment instalment arrangement for these assessment periods even if you choose to pay the amount in full,” says NSW Government Revenue.

So there’s a bit of extra running around to organise this via an online portal.

You can set it up yourself or we’re happy to help you. Make sure you can cover off the cash flow, and be sure to comply with the conditions of the ‘Stimulus Payment Arrangements’. You should have received an email from Revenue NSW explaining this.

Be aware that there’s a window of 24 months covered by the payment arrangements but after 12 months, interest will apply and be added to your final instalment.

But wait there’s more

Don’t forget that normal payments (by direct debit) will now resume for assessment periods after 1 July. And the next duty payable for hotels is fast approaching on 21 October.

There’s a lot to take in but as always, we’re here to help you breathe easy. So feel free to contact our team if you have any questions or need extra details about what’s what, what’s due when, and how to improve your cash flow during this unprecedented period.

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