Victoria Australia will begin imposing an 8 percent tax on online betting in January.
“The move will better align Victoria’s wagering system with the increasingly digital betting environment, and revenue collected will go to the State’s Hospitals and Charities Fund,” the state government said in a press release. “The PoCT will be implemented in a way that protects Victorian jobs and does not adversely impact the Victorian Racing Industry, which is a major part of Victoria’s sporting landscape and cultural tradition.”
The tax is substantially lower than other Australian states are considering and the government addressed the charge that it is undercutting other states saying it would continue to work with other states and territories to achieve a unified approach. South Australia has introduced a 15 percent tax last July, while Western Australia and Queensland have also pledged a 15 percent rate, according to local reports.
Online gambling companies had been taxed only in the state they were located and many states say they have been missing out in revenue. For example, most online companies in Asutralia are located in Northwest territories which impose a lower tax rate.
In another Australian story, a bill to ban synthetic lotteries—betting on the outcome of out-of-jurisdiction lotteries—was passed by the country’s House of Representatives. It now goes to the Upper House of Parliament.
The bill targets lotteries such as those run by Lottloand Asutralia, which critics say hurt local lottery sales agents. Lottoland has objected to the bill and made an offer to share revenue with the country’s lottery agents, but has not been able to slow down the bill’s movement through Parliament.
