Nsw Gambling Tax
David Leyonhjelm, lead candidate for the Liberal Democrats, today announced he will push to abolish gambling taxes if successful in winning the balance of power at the NSW election.
Consequence as a result of their gambling. Gambling in NSW Gambling is an enjoyable pastime for many people with 65% of adults reporting that they gamble at least once a year. There are many different forms of gambling, with lotteries having the largest participation and approved gaming machines producing the largest expenditure3. NSW officials affirmed that Australia’s old gambling-tax regime was made obsolete by the online gambling era and that it left Tabcorp solely footing the bill. “In practice,” reads an excerpt from the New South Wales government consultation paper on the issue, “wagering tax on racing and sports betting is currently only paid by Tabcorp. The NSW point of consumption tax is expected to raise $100m per year with a portion of the amount collected to head back into the state’s racing industry. Perrottet told The Australian the tax on online betting companies was to ensure Northern Territory-licenced organisations paid a fair amount of tax in NSW. NSW Government tax revenue from gambling was $2.23 billion for 2016–17.6 Less Disposable Income Spent on Gambling Trends in NSW Gambling Expenditure as a Percentage of HDI (2002–03 to 2016–17) Source: Australian Gambling Statistics, 34th edition, Queensland Government Statistician’s Office, Queensland Treasury.
“Abolishing gambling taxes in NSW would be a $2.7 billion annual tax cut equivalent to $340 per person,” he said.
“Under the Liberal Democrats, you’d no longer be stung by the government when you put a sure bet on Winx at the races, have a cheeky spin on the pokies at your local club or hotel, put it all on black at the casino, or buy a lotto ticket at your local newsagent.
“You could have more bets as well as go home with more money in your pocket.
“The NSW State Government taxes gamblers more than in other States. Nationwide, gambling taxes are $280 per person, whereas they are $340 per person in NSW.
“Our State Governments are addicted to gambling tax revenues. And the NSW Government is the biggest junkie of all. It’s time we made the States go cold turkey.
“For most gamblers, gambling is a leisure activity like any other. Their pastime shouldn’t be taxed more than anyone else’s pastime.
“Only a small minority of gamblers suffer such lack of control that they experience excessive losses.
“Gambling taxes don’t even help problem gamblers; they just add to their losses. Problem gamblers don’t see the reduction in potential pay-offs resulting from gambling taxes, and they don’t reduce their gambling as a result of lower potential payoffs.
“Gambling taxes go into the general coffers of State Governments rather than towards problem gambling programs, which account for a tiny fraction of gambling tax collections.”
Nsw Gambling Taxes
The Liberal Democrats’ plan to abolish gambling taxes is part of a fully-costed alternative budget, to be publishedlater this month, involving each State delivering budget surpluses and significant cuts to taxes and government spending.
Gaming law
Liquor & Gaming NSW is responsible for the implementation of government policies designed to balance sustainable business development with the need to reduce harms associated with problem gambling.
In the gaming area, L&GNSW is responsible for:
- advising in relation to the development and implementation of government policy
- ensuring compliance
- monitoring revenue collected from gaming activity
- overseeing technical standards for gaming machines
The Office of Responsible Gambling and Responsible Gambling Fund Trust is responsible for administering the Responsible Gambling Fund, which funds services for problem gamblers.
Wagering law
Wagering is regulated in NSW under the Betting and Racing Act 1998 and the Totalizator Act 1997, which prescribe:
- who may offer betting services
- the events on which betting is permitted
- requirements that betting service providers must comply with.
The Act provides that the Minister for Better Regulation and Innovation may authorise licensed bookmakers to conduct telephone and electronic betting at licensed racecourses or other approved premises.
The Minister for Better Regulation and Innovation can declare sports and other events as betting events in NSW. Declared events are listed in the: Schedule of Declared Betting Events and Approved Forms of Betting PDF, 274.62 KB.
This schedule forms part of the Bookmaker Declared Betting Events Betting Rules PDF, 149.52 KB.
New Gambling Tax Rules
The Betting Glossary of Terms PDF, 13.85 KB defines the various form of betting available.
In December 2015, changes were made to the application process and requirements for new declared betting events and bet types. For further information on these reforms, please see Sports wagering in NSW
Relevant Acts
New Gambling Tax Law
Visit Legislation NSW for all Acts and Regulations.