Customs Act 1901
(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).
For the purposes of subsection (1), the formula is:
|Annual rate ×||
Days in the year
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.
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.