Customs Act 1901

PART IVA - DEPOTS  

SECTION 77W   REFUND OF DEPOT LICENCE CHARGE ON CANCELLATION OF A DEPOT LICENCE  

77W(1)    

If:

(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.

days in the year
means:

(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.