Western Australia Minister for Racing and Gaming Terry Waldron
Changes To Racing Bets Levy Announced
Victor P Taffa
- Change to payment of racing bets levy to come into effect on November 1
- Levy to be based on 1.5 % of monthly turnover
Changes to the payment of the racing bets levy for the use of Western Australian race fields will come into effect from November 1.
Announcing the changes to the regulations today, Racing and Gaming Minister Terry Waldron said the current method of calculating the levy gave betting operators the option of paying either 1.5 % of turnover, or the greater of 20 % of gross revenue or 0.2 % of turnover.
Mr. Waldron said the change to the levy came after a request by Racing and Wagering Western Australia, and would be based at a rate of 1.5 % of monthly turnover.
“The exception will be during the premium thoroughbred racing season (November 1 until January 1) when the levy will be at a rate of 2% of monthly turnover.” Mr. Waldron said.
“This move was endorsed by key industry stakeholders and will maximise the revenue return to the WA racing industry.”
The Minister said the amendments were consistent with the State Government’s policy of sustaining the ongoing viability of the WA racing industry.
Mr. Waldron also said he would be reviewing the way ‘bet backs’ were currently treated under the Racing Bets Levy Scheme in view of the anomaly that now existed with other jurisdictions across Australia.
The new rates will apply from November 1, 2012.
- Current method of calculating the levy gives betting operators option of paying either 1.5% of turnover, or the greater of 20% of gross revenue or 0.2% of turnover
- The new levy will be set at 1.5% of turnover, except during the premium thoroughbred racing season (Nov 1-Jan 1) when the rate will be set at 2%