This story was published more than 5 years ago.
This week the Australian state of Victoria announced that they're planning to work in an 8% tax on internet betting, which politicians say will generate A$30 million in revenues for the state.
The tax is lower than competing states in the country, as South Australia, Queensland, and Western Australia are all working with a 15% rate. Lawmakers worked with industry operators to gather their thoughts on the levy, and even though betting groups aren't happy with the rate, they at least acknowledge that Victoria did work with them.
Speaking about the tax Victoria Treasurer Tim Pallas said, "We're making sure online betting companies pay their fair share of tax in Victoria. We will continue to consult the industry and other stakeholders as we finalise legislation to implement the point-of-consumption tax.
"We don't want to do any harm to that industry."
No timetable for implementation of the tax was available as of press time.
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Comments
Well, I don't know why operators are so unhappy if in the surrounding states the tax is double as bigger than in Victoria.
Otherwise it looks like that could draw some players there and in the same time boost the state's budget.
15% rate will earn the state $60 million in a simple calculation 🙂
So, the legislators care for the online betting companies very much 😀