WA Government’s Racing Reform Package Announcement
9 October, 2018
Industry
Racing and Wagering WA (RWWA) acknowledges and supports the commitments made by the State Government in today’s announcement proposing a Racing Reform Package for the WA racing industry.
The Package will include the introduction of a Point of Consumption (POC) Tax of 15% of net wagering revenue in Western Australia from 1 January, 2019.
The Government has also confirmed it will progress the sale of the WA TAB by introducing enabling legislation into Parliament in early 2019.
RWWA CEO Richard Burt commended the McGowan Government on determining that 30% of revenue raised through the introduction of a POC Tax will be directed to the racing industry, in addition to ending the uncertainty surrounding the potential privatisation of the WATAB.
“Since 2014, the WA Racing Industry has been impacted by ongoing speculation regarding privatisation.”
“The Government’s framework for progressing the sale of the WATAB, together with the POC tax commitment is expected to provide a positive outcome for racing.”
“RWWA is supportive of the no worse off funding principles, the 35% of the net sale proceeds to address racing infrastructure, legislating to provide virtual racing in TAB retail outlets and other key principles included as part of the sale of the WATAB package”.
“We look forward to working with Government in the coming months to ensure the WA racing industry achieves the benefits arising from POC tax and the sale of the WATAB” Mr Burt said.
Media Contact:
Kate Bishop Corporate Communications Coordinator
D (08) 9445 5201 M 0436 372 834
E kate.bishop@rwwa.com.au