5AMeaning of net proceeds

1. In this Act, net proceeds, in relation to any gambling, means—

2. the sum of the amounts described in subsection (2); less
3. the sum of the amounts described in subsection (3).

4. The amounts referred to in subsection (1)(a) are—

5. the turnover of the gambling concerned (less prizes):
6. any interest or other investment return on that turnover:
7. any gain from selling or disposing of a gambling asset at a price or value above the gambling asset’s book value at the time of the sale or disposal.

8. The amounts referred to in subsection (1)(b) are—

9. the actual, reasonable, and necessary costs, levies, and taxes incurred in conducting the gambling; and
10. the actual, reasonable, and necessary costs incurred in complying with any of the following in relation to the gambling:
    1. this Act or any other relevant enactment:
    2. an operator’s licence:
    3. a venue licence; and
11. the amount by which any gambling asset is depreciated in each year in accordance with generally accepted accounting practice (as defined in section 108) and, where applicable, the depreciation rates set under section 116; and
12. any loss from selling or disposing of a gambling asset at a price or value below the gambling asset’s book value at the time of the sale or disposal; and
13. any payments made in compliance with regulations made under section 371(1)(dd).