MEDIA RELEASE: Responsible Wagering Australia (RWA) is disappointed that Queensland Labor has announced a 15 percent point of consumption (POC) tax on online wagering.

A 15 percent POC tax in Queensland puts more than 300 Queensland jobs directly in the crosshairs and jeopardises a further 42,000 indirect jobs in the racing industry. There has been no industry consultation and no analysis on the impact this naked tax grab will have on the economy, jobs and the already uncertain future of racing in Queensland.

Far from ‘levelling the playing field’ online wagering operators will be forced to pay up to triple the tax rates their terrestrial competitors pay and leave Queensland racing unable to compete with Victoria and New South Wales. Last financial year, RWA’s members paid $27 million to the Queensland racing industry and supported sporting codes and tourism with a further $3 million in sponsorships.

This new tax puts all of that in direct jeopardy. At a time when Queensland racing needs to be put on a solid footing to grow for the future, this new tax will make sure it is left behind and have no hope of competing with New South Wales and Victoria.

Comments attributable to Stephen Conroy, Executive Director of RWA “This new tax will put a handbrake on the racing industry in Queensland and directly throw into jeopardy more than 300 jobs.” “Queensland racing needs to be supported to grow and compete, not taxed out of existence. This new 15% wagering tax will put racing and jobs to the wall.”