These deferred instalments (payable on 30 November 2022 and 28 February 2023) will then be payable alongside the third instalment as a lump sum in the amount of three instalments on 31 May 2023.
The requirement to pay interest on the balance owed for entitlements will also not commence until 1 June 2023.
This deferral scheme is much less generous than the industry had been lead to expect – as it only defers the payment dates for the first two instalments until essentially a ‘super payment’ is due on 31 May 2023. It had previously been intimated that the whole payment term would be deferred, clearly that is not the case. That said, it does provide some cash flow relief during that period.
How to Apply
To take up this offer, venue operators will need to register in writing by close of business on Monday 25 July 2022. Registrations should be made as soon as possible.
Venue operators can register by emailing the Department of Justice and Community Safety (DJCS) at [email protected], with a subject line that states ‘Registration for deferred instalment payment offer”.
The email should contain the following details:
- Venue operator name;
- Venue operator licence number;
- Venue operator ABN;
- Contact person name;
- Contact person email address; and
- Contact person phone number.
It does not appear that a venue operator needs to demonstrate or provide any threshold of financial detriment to qualify for the offer.
Venues that register for this deferral will receive a deed of variation to their Entitlement Related Agreement for Payment (Payment Agreement) with the State. This will need to be executed and returned to DJCS by the dates indicated.
Venues that do not register for this deferral will need to pay their first instalment on 30 November 2022, with the first interest payment due on 28 February 2023.
Venue operators with upcoming purchases of post-2022 gaming entitlements or gaming venues in early 2023 should also be mindful to confirm whether the vendor (in any given case) has applied for this deferral, to confirm when instalments for the gaming machine entitlements will become payable.
Please contact our office if you have any questions regarding your circumstances and the deferral offer.
This update does not constitute legal advice and should not be relied upon as such. It is intended only to provide a summary and general overview on matters of interest and it is not intended to be comprehensive. You should seek legal or other professional advice before acting or relying on any of the content.
