10Betting tax on approved betting activities

#### 10 Betting tax on approved betting activities 10 Betting tax on approved betting activities > > (1) Betting tax is payable on net earnings in connection with the total amount of bets placed with a totalizator licensee in respect of an approved betting activity conducted by the licensee on each day on which such an activity is conducted. > > > (2) The tax payable is the relevant percentage of the amount obtained by subtracting from the total amount of bets placed with the totalizator licensee in respect of an approved betting activity conducted by the licensee on a day the total amount payable as dividends or other returns to investors in respect of those bets. > > > (2A) The relevant percentage is— > > > > > (a) in respect of an approved betting activity (other than a computer simulated racing event betting activity) conducted— > > > > > > > (i) during the period commencing on 1 July 2015 and ending on 30 June 2016—9.2%, or > > > > > > > (ii) during the period commencing on 1 July 2016 and ending on 30 June 2018—7.43%, or > > > > > > > (iii) during the period commencing on 1 July 2018 and ending on 30 June 2019—6.6%, or > > > > > > > (iv) during the period commencing on 1 July 2019 and ending on 30 June 2020—5.8%, or > > > > > > > (v) during the period commencing on 1 July 2020 and ending on 30 June 2022—4.38%, or > > > > > > > (vi) on or after 1 July 2022—8.47%, or > > > > > (b) in respect of a computer simulated racing event betting activity—15%. > > > (3) The tax is payable by the totalizator licensee. > > > (4) The tax is payable within 7 days after the day in respect of which the tax is payable. > > > (4A) No betting tax is payable on net earnings in connection with the first $255 million of the total amount of computer simulated racing event bets placed with a totalizator licensee in any financial year. > > > (4B) Subsection (4A) ceases to have effect at the end of 30 June 2034. > > > (5) In this section— > > > > approved betting activity means a betting activity approved under section 13 of the [Totalizator Act 1997](/view/html/inforce/current/act-1997-045) to be conducted by a totalizator licensee under that Act. > > > > computer simulated racing event bet means a bet in respect of a computer simulated racing event betting activity. > > > > computer simulated racing event betting activity means an approved betting activity conducted on a computer simulated horse racing, harness racing or greyhound racing event. > > > > financial year means a year ending on 30 June. > > **s 10:** Am 2009 No 51, Sch 7.1 \[1\]; 2010 No 94, Sch 2.1 \[1\] \[2\]; 2015 No 66, Sch 1 \[5\]–\[7\]; 2022 No 32, Sch 1\[3\] \[4\].