Increase in Betting Tax, More Money Paid to Racing Industry
Gambling Regulation Amendment (Wagering and Betting Tax) Bill 2021
1st House
2nd House
Law
Effects of Bill:
This bill being passed means that:
Wagering and Betting tax will go from 8% to 10% as of July 2021
More of the Tax proceeds will be distributed back to Racing Industry bodies (increased - from 1.5% up to 3.5%) and the share given to the Hospitals and Charities fund will therefore decrease from 8.5% to 6.5%
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