8Betting tax on commission on totalizator betting

8 Betting tax on commission on totalizator betting

8 Betting tax on commission on totalizator betting

(1) Betting tax is payable by a totalizator licensee on the commission deducted (under section 69 of the Totalizator Act 1997) from the total amount invested in each totalizator conducted by the licensee.

(2) The tax payable is—

(a) the relevant percentage of the total amount so deducted each day on which the totalizator licensee conducts a totalizator on one or more events or contingencies, or

(b) any lower percentage of that amount that the Governor may declare, on the recommendation of the Minister, by order published in the Gazette.

(2A) The relevant percentage is—

(a) in respect of a totalizator conducted during the period commencing on 1 July 2015 and ending on 30 June 2016—16.2%, or

(b) in respect of a totalizator conducted during the period commencing on 1 July 2016 and ending on 30 June 2018—13.5%, or

(c) in respect of a totalizator conducted during the period commencing on 1 July 2018 and ending on 30 June 2019—12.17%, or

(d) in respect of a totalizator conducted during the period commencing on 1 July 2019 and ending on 30 June 2020—10.7%, or

(e) in respect of a totalizator conducted during the period commencing on 1 July 2020 and ending on 30 June 2022—7.6%, or

(f) in respect of a totalizator conducted on or after 1 July 2022—3.49%.

(3) The tax is payable by the totalizator licensee conducting the relevant totalizator.

(4) The tax is payable within 7 days after the day in respect of which the tax is payable.

(5) A tax is not payable under this section on any amount that is applied by the totalizator licensee in rounding up an amount calculated as dividend.

s 8: Am 2015 No 66, Sch 1 [1] [2]; 2022 No 32, Sch 1[1].