Australia-facing online betting firms have found refuge in Victoria after most of the states in the land down under have agreed to impose a punitive 15 percent point-of-consumption tax.
The Guardian reported that Victoria, one of Australia’s two biggest betting states, has imposed softer betting tax for online bookies to the delight of many digital bookmakers.
Victoria State Treasurer Tim Pallas announced on Monday that online bookies in the state will have to pay an 8 percent point-of-consumption tax, lower than the 15 percent point-of-consumption tax of the states of South and Western Australia.
Like in Western Australia, Victoria’s point-of-consumption tax will take effect in January, according to the report. The new tax policy is also dependent on legislation passing the parliament. Pallas said Victoria expects to collect an estimated AUD30 million (US$22.65 million) a year from the new tax regime.