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Parliamentary Questions

Question Without Notice No. 263 asked in the Legislative Council on 11 April 2018 by Hon Colin Holt

Parliament: 40 Session: 1
Answered on 11 April 2018

RACING AND GAMING — POINT-OF-CONSUMPTION WAGERING TAX

263. Hon COLIN HOLT to the minister representing the Treasurer:

I refer to the point-of-consumption wagering tax.

(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?

Hon 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.