Secure adnxs

New tax proposals may impact Betfair


Betfair balks at tax proposals in current negotiations

Befair's licensing renewals in the Australian state of Tasmania continue to generate heated debate as the international betting company's Australasian division negotiates its next kicensing period.

Betfair's first licence was a groundbreaking Aussie state move back in 2006, an arrangement that is due to expire in April 2011, hence the negotiations now being negotiated. The betting company is reportedly concerned it no longer has a "level playing field" following the government's recent decision to replace taxes for corporate bookmakers with a flat fee of $256 000 a year.

Last week Betfair's regional chief exec, Andrew Twaits, was reported as saying that the Tasmanian operations have still to grow, and the imposition of new tax burdens will have a significant impact on the company's business plans in the state which may cause it to look at alternative arrangements.

Twaits said the proposed flat fee contrasted with the 15 percent of gross revenue, plus GST, that his company paid as tax in the state under its present licensing agreement.

"In terms of total (Betfair) contribution to Tassie, it's at least $20 million in the past three-and-a-half years, including the product fee to industry and probably A$7 million to A$8 million in tax," he said.

Twaits told the Australian newspaper The Age that Betfair wanted legislative change to ensure it was treated equally with the online bookmakers Tasmania is hoping to lure from the Northern Territory.

"We are an online operation, just as the bookmakers are; we have a non-exclusive licence, just like the government is offering to the bookmakers - there is really no difference," he said. "They are direct competitors of ours. So I'm not sure why the tax should be any different."

Betfair's Hobart base in Tasmania employs 120 staff, the newspaper reported.

The government remained optimistic that the negotiations would be fruitful, however.

Treasurer Michael Aird told The Age that he was confident an agreement on a new post-2011 licence would be concluded by year's end.

"There's a bit of an exaggeration going on about Betfair leaving the state - all indications from Betfair are that they want to stay here," the politician said.

"We want to protect the jobs at Betfair, and we think they have provided a very good skill base in terms of data storage and transfer, and that they have been very good corporate citizens. I'm confident we will be able to get an agreement with them."

Despite initial widespread opposition to Betfair being licensed in Tasmania, its presence now has bipartisan support, The Age reports.

General Gambling News Gambling Law & Society News

Login to post a comment:


 
 

Click Here to register a new account

What's going on right now!

5mins ago someone from us flag United States played Witch Pickings

Casino Community

Share this page on:
Follow LCB on:
Follow LCB

In the last 24h

Totals

  • New Members
    40
  • Members Online
    512
  • Guests
    1,563
Highest Community Rated Online Casinos
Guts Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (348 Ratings)
Bet365 Games
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (305 Ratings)
Unibet Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (274 Ratings)
NextCasino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (308 Ratings)
Vera John Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (294 Ratings)
Casino Adrenaline
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (226 Ratings)
Betsson Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (379 Ratings)
CasinoLuck
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (397 Ratings)
Redbet Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (283 Ratings)
32 Red Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (641 Ratings)
Lucky Red Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (372 Ratings)
BETAT Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (351 Ratings)
SlotsMillion
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (197 Ratings)
Bet365 Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (565 Ratings)
ComeOn Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (419 Ratings)
Betsafe Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (358 Ratings)
Winner Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (420 Ratings)
William Hill Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (202 Ratings)
Club USA Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (485 Ratings)
Mr Green Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (451 Ratings)
Red Stag Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (145 Ratings)
Win A Day Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (577 Ratings)
Ladbrokes Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (224 Ratings)
Sportingbet Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (172 Ratings)
Betfair Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (377 Ratings)
GoWild Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (387 Ratings)
Slotland
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (520 Ratings)
Buzzluck Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (325 Ratings)
InterCasino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (225 Ratings)
Vegas Red Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (238 Ratings)


Follow LCB on Facebook Follow LCB on Twitter Follow LCB on Pinterest Follow LCB on Google plus