The New South Wales (NSW) government has announced an increase in operators’ point of consumption tax (POCT) from 10 percent to 15 percent. The change will come into effect July 1.
The increase coincides with the release of the state’s new budget, as economists believe it could generate over $500 million in additional revenue.
Queensland’s state government also recently increased its POCT from 15 percent to 20 percent, and the remaining states are expected to follow suit in the near future.
The news has been welcomed by domestic operators such as Tabcorp, as the tax hike mostly affects internationally-owned companies.
Tabcorp CEO Adam Rytenskild said in a statement that the company “welcomes the NSW Government’s announcement,” and that it will keep fighting for “further industry reform” moving forward.
