The government of New South Wales intends to engage with the wider public on the issues regarding the possible regulation associated with online gaming and taxes thereon. The authorities are requesting that residents of the state make a point of sharing their opinions on whether or not the state should make changes in taxes on gaming, with these aimed at targeting iGaming in particular.
Four Weeks of Consultation
A consultation period of four weeks, over which gambling operators will be able to share what they think about the proposed taxation, is due to be announced by the Treasurer for New South Wales, Dominic Perrottet, soon.
No Specific Tax in Place Yet
As things currently stand in New South Wales, there is no specific tax in place on online gambling and sports betting operations that are internet-based. Racing and sports betting activities are only taxed when they take place at land-based facilities.
The Huge Popularity of Online Gaming
Mr Perrottet pointed out that the online gambling industry has undergone considerable growth in recent years, and that other states and territories in Australia have already changed their taxing in order to address this increase in popularity. He added that this was another issue under consideration in New South Wales.
Authorities Want to Understand
Perrottet stated that the purpose of this consultation was for the state authorities to gain a better understanding of the what the effects of this kind of tax implementation, and the public’s view of these, would be.
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