- Jul 29, 2015
- AFL Club
- Other Teams
- Persis Solo, Davao Aguilas FC
When the Equine Influenza epidemic hit Australian horse racing a few years ago and all racing was closed down for 18 months I was staggered to be informed by a senior racing official in NSW that the NSW government was "desperate" to get the racing industry going again because they relied heavily on the monthly tax from the TAB to cover the Public Service Superannuation Fund obligations. So desperate were they to get some gambling revenue that they allowed camel races at the old Harold Park. One camel was winning every race, apparently the Winx of camels. So they used to change the number and name on her for the different races. The gambling so called industry.It's the only gambling in Australia where it is not a requirement that the odds be posted prior to payment. You're right about the big clubs being in old existing areas though. Are you sure the spend is still declining? I knew it was in 11 and 12, but I thought it had begun to increase again with the advent of larger jackpots.
This is an old story but it is still relevant imo: https://taxandsupernewsroom.com.au/large-amounts-state-tax-revenue-gambling-safe-bet/
NSW and Victoria have the highest tax dependence on gambling, raking in an estimated $2 billion and $1.8 billion respectively. A report on gambling by the Productivity Commission several years ago put this in percentage terms, showing Victoria relying on gambling for 13% of its revenue. The ACT and Western Australia have the lowest percentage reliance, at 4%.
What this means is that NSW and Victoria cannot afford to reduce gaming, so regardless of it's impact, they will continue to support it, while large off-shore corporations continue to pay little or no tax.
Right, I'll shut up about it now 'cause I could still be whinging about it this time next week!