The New South Wales government is establishing a formal process to consider proposals changes to the way funding flows to the racing industry.
The proposals were brought forward by Tabcorp Holdings which stated that, if implemented, the changes would “create a level playing field and modernise retail exclusivity, similar to recent reforms in Victoria and Queensland.”
The formal process may include consideration of reforming legislative and license requirements related to wagering, changes to the Point of Consumption Tax to align with other states that charge 20% and ongoing requirements under the Betting Tax Act, and the findings and recommendations arising from Hospitality and Racing’s Modernisation Review of the Totalizator Act.
Parties that could be affected by any potential changes will be invited to make submissions as the Government considers Tabcorp’s proposal.
“Gambling companies should always be paying their fair share,” said Treasurer Daniel Mookhey. “The NSW Government will apply strict scrutiny to Tabcorp’s proposal.
“Change will happen if it is clear that the public will be better off.”
The Minister for Gaming and Racing David Harris added: “The NSW racing industry generates billions of dollars for the NSW economy and sustains tens of thousands of jobs. The NSW Government wants to ensure the industry has a sustainable future for all those who make a living from it and participate in it and that the public is getting its fair share from all involved.
“We must be satisfied the proposal meets the interests of both the wider community and the racing industry and its stakeholders, before we consider implementing any elements of it.”
