RACING AND GAMING —
POINT-OF-CONSUMPTION WAGERING TAX
263. Hon COLIN HOLT to the minister representing the
I refer to the point-of-consumption
(1) How much does
Treasury expect the tax to raise in its first full year after implementation?
(2) What does
Treasury expect to be the direct financial impact of the tax on the racing
industry in its first full year after implementation?
STEPHEN DAWSON replied:
I thank the honourable member for
some notice of the question.
(1) �As noted in
budget paper No 3 of Western Australia's state budget 2017–18,
Treasury expects the point-of-consumption tax will have a net impact on general
government operating revenue of $39.7 million following the abolition of
existing betting taxes and $20.7 million on the net operating balance, taking
into account an additional $19 million in funding to the racing industry.
(2) Once industry
is provided the additional $19 million in funding, Treasury expects that there
will be no direct financial impact on the racing industry from the point-of-consumption
tax. This is consistent with the undertaking on page 80 of budget paper No 3 of
Western Australia's state budget 2017–18, which committed to
provide funding to the racing industry to offset any direct material financial
impacts that the point-of-consumption tax may have on the industry.