Point-of-consumption Tax Missing from Victoria Budget
Corporate bookmakers in Victoria are still in the dark about the implementation of the point-of-consumption tax. This comes after the state released its budget on 1 May for the 2018-2019 financial year. In the 2017 budget, the state revealed that they might implement the tax. However, there appears to be no mention of it this year.
South Australia introduced a 15% tax, while Western Australia plans to implement it in 2019. Lawmakers in Queensland have also promised to introduce a tax, but the implementation date hasn’t been revealed. In Victoria, officials have suggested a lower tax of just 8%. Despite referencing this in last year’s budget, the State Treasurer claims they are still working on it.
Estimates on Victoria Tax
Preliminary estimates project an increase of AU$150 million in revenue for the state if the tax is introduced. Which leads to the question, why is it taking so long? State Treasurer, Tim Pallas, claims that more details will be released ‘in coming months.’ So, it’s possible that officials are pushing for stricter regulations along with the tax.
At the moment, Victoria is looking attractive to offshore operators because they don’t have a tax regime at the moment. This could cause problems for them because bookmakers could start advertising more aggressively. Current federal laws might be an issue, though. After all, gambling ads can’t be broadcast during live events between 5:00am and 8:30pm.
Then again, it’s possible that gambling ads in Victoria will be restricted. Current proposals will limit static ads on public transport and roads. No ads will be allowed within 150 metres of schools.
Gambling Laws in Victoria
With so many changes to legislation on the way, this year’s budget may just need the point-of-consumption tax revenues. So, we’ll be keeping an eye on this story for Aussies at Sun Vegas Casino.
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