Tabcorp is gearing up to lobby the NSW and Victorian Governments for better tax treatment in line with the recent changes to Queensland taxation laws.
Queensland has just become the first state to make significant changes to the wagering licence regime, lifting the point of consumption tax to 20 per cent. This change is expected to save Tabcorp around $30m per annum in taxes and fees.
Tabcorp, the Australian Hotels Association, Community Clubs Victoria and Clubs NSW will launch a campaign this Thursday, 16 June to level the playing field for pubs and clubs competing against online bookmakers.
Tabcorp argues that it is paying double the fees and taxes, which is also making pubs and clubs less competitive compared with wagering using mobile phone apps.
Tabcorp Chief Executive Adam Rytenskild told The Australian: “Foreign-owned bookmakers pay less taxes and fees. That means the racing industry does not receive the investment it should.
“Online betting has changed the market substantially since TAB licences were issued.
“TAB is paying double the fees of foreign-owned operators, which was OK in a monopoly environment, but not now.
“The market share of online operators has increased and they should be contributing the same level of funding to ensure the sustainability of the racing industry,” he said.
Tabcorp also recently demerged with Keno, with its subsidiaries forming the newly ASX-listed The Lottery Corporation, holder of brands The Lott and Keno.
