Australian Capital Territory introduces 15% POC gambling tax
The Australian Capital Territory (ACT) government has announced a new 15% point of consumption (POC) tax on gambling operators.
The tax will apply to net gambling revenue generated by companies through bets placed in the ACT, as well as wagers made by residents in the territory.
The move follows a similar approach by various other territories such as South Australia, which has set betting operations tax at 15% for horse racing, sports betting and non-sport events.
According to budget papers obtained by the Canberra Times newspaper, ACT expects to generate an additional Aus$2m (€1.3m/US$1.5m) a year through the new tax rate.
“The introduction of this tax will bring the ACT into line with multiple other Australian jurisdictions which are also in the process of implementing point of consumption tax arrangements,” the papers read.
Queensland and Western Australia are also due to introduce 15% tax rates, but Victoria last month announced plans for a new rate of just 8% for online betting agencies.
Related article: Victoria plans 8% online betting tax