Victorian Wagering Tax
MEDIA RELEASE: “Responsible Wagering Australia (RWA) is disappointed by the Victorian Government’s decision to introduce a new point of consumption tax (POCT) on online wagering,” said Stephen Conroy Executive Director Responsible Wagering Australia.
“Whilst RWA acknowledges the Victorian Government’s consultative approach, this new tax will nevertheless have significant negative and far-reaching consequences for Victoria. Last financial year, the online wagering industry directly employed around 1000 Victorians, paid $6 million in Victorian payroll tax and paid $80 million to the Victorian racing industry.
“The online wagering industry already pays a significant amount of consumption tax through the GST, as well as corporate income tax to the Federal Government. An 8 percent POCT does not adequately account for these significant contributions and will result in Victoria having one of the highest effective wagering tax rates in the world,” said Mr Conroy.