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New Taxes for Australian Bookmakers

Thursday April 28,2016 : NEW TAX CHALLENGES LOOM FOR AUSSIE BOOKMAKERS
 
Low tax rates in the Northern Territory questioned.
 
Local media reports from Australia claim that locally-based bookmaking firms are facing a new challenge as political questions are asked about the low tax rates in the Northern Territory, which have encouraged a number of gambling companies to licence there.
 
Federal government ministers have reportedly been advised by lobbyists that the state could be missing out on additional tax revenues of over $300 million in the present situation.
 
The reports of tax inequalities compared with other Australian provinces come on the eve of an annual meeting Friday in Alice Springs which will be attended by representatives from several foreign-owned betting firms.
 
Online bookmaking companies licensed in the Northern Territory pay a relatively low annual tax of A$550,000 each, giving them an advantage over long-established Australian-owned gambling groups in other provinces like Tabcorp and Tatts.
 
Opponents of the Northern Territory tax regime claim that the low rate prejudices other provinces and funding for the horse racing industry, and have urged the federal government to insist on change or risk federal intervention in the possible form of a national online wagering tax.
 
Such a solution would have to take into account the additional taxes and levies paid by Tatts and Tabcorp to the racing industry, one analyst opined, making it a complex issue.
 
There has been speculation that a ten percent blanket tax levied on a point-of-consumption basis as applied by the UK may be under consideration, but as the analyst pointed out, that could have a seriously detrimental impact on international bookmakers who have licensed and set up business in Australia.
 
Even the Australian Hotel Association weighed in on the tax inequality issue, with chief executive Stephen Ferguson saying this week that he had advised the federal government that there was a tax revenue opportunity for them in the online gambling sector.



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Vikings’ Victory Slot Launches - The game’s impressive graphics take you to the sea side, where a longship sits beyond the reels. Mountains and trees make up the background, and smoke can be seen billowing from beyond the screen. The five reels are on a sail, with 25 paylines marked by red flags.

50 WSOP Seat Satellite - Sunday, July 2nd at 3pm ET, two just days before the Fourth of July holiday, Americas Cardroom is running a 50-seat qualifier to the 2017 WSOP Main Event in Las Vegas.

NHL Odds: Series Tied Heading Back to Pittsburgh - As quickly as Pekka Rinne lost his game in Pittsburgh, he found it again in Nashville. After Game 2, there were murmurings that Rinne wouldn’t start the next game. Predators Head Coach Peter Laviolette decided to stick with his goaltender, however, and Rinne led his team to two consecutive victories at home while stopping 50 of 52 shots.

Huge Win at Bitstarz Casino - There has been plenty of big wins being landed at BitStarz lately, and yesterday, it was time again. Surprisingly it was yet another Amatic game that made one lucky player extra happy as he raked in an incredible $112,402 during an evening of intense playing.

Beautiful Bones is the latest game release from Microgaming - Beautiful Bones is a five reel, 243 ways to win, visually superb slot. The Day of the Dead-inspired slot features vibrant and elaborately decorated reels, which truly bring this game to life.

NBA Odds: Can Warriors Keep up the Pace in Cleveland? - The Cleveland Cavaliers head back home down 0-2 in the 2017 NBA Finals after losing the first two games straight up and against the spread to the Golden State Warriors by wide margins. Game 3 is Wednesday at 9 PM ET on ABC.

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