Online Gambling Tax Cap in N.T.Australia

17.10.2009, In a report from the Northern Territory news of Australia the government of that region has decided to cut taxes for bookies in their jurisdiction. Obviously a step to keep the existing online books in the Territory.

Tasmania has put the pressure on the other areas of Australia that have some form of legalized online wagering by offering an incredibly good deal to those operators who want to set up shop there. Looking to be a major post for many online gambling operators Tasmania is saying $250,000 a year is it's tax ceiling for books. According to the NT news report there are eleven online bookmakers already in the Northern Territories, and at a cost of millions of dollars to the NT government these operations are going to benefit from the NT government's price matching.

Matthew Tripp owner of Sportsbet said he would keep his operation in Darwin even though Tasmania has offered the tax ceiling. Mr Tripp commented that the Northern Territory Government had been "very welcoming". "They've been very hospitable, as opposed to authorities in some of the southern states. The NT Government earns a good dollar out of us. But they're entitled to because they've shown they are in favour of economic growth."

The eleven companies employ about 250 people and contributed $10.5 million to the NT economy last year.

Delia Lawrie Treasurer for the NT Government said, "The potential of bookmakers leaving the Territory is a major concern for the Henderson Government as it would cost valuable jobs, support to the local racing industry and revenue," The minister went on to say, "That's why, after careful consideration and in order to preserve an industry presence in the Territory, the Government is proposing to reform the bookmakers' turnover tax regime so that it remains competitive with other states. While these measures will reduce tax revenue, on balance, inaction would have seen many corporate bookmakers leaving the Territory, costing jobs and would have severely impacted the local racing industry."

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