❓ Hon. Colin Holt questions the Treasurer on the Point-of-Consumption Wagering Tax, specifically regarding the tax rate, revenue projections, allocation to the racing industry, and legislative timeline. The Minister confirms the 15% rate and provides revenue estimates and industry grants.
AnsweredQoN 742Legislative Council
QuestionView source ↗
POINT-OF-CONSUMPTION
WAGERING TAX
742. Hon COLIN HOLT to the minister representing the
Treasurer:
(1) Has the
Treasurer decided on a rate for the point-of-consumption tax that is due to be
introduced on 1 January 2019?
(2) Will the
Treasurer today rule out lowering the proposed tax rate of 15 per cent, as
previously flagged?
(3) How much will the
point-of-consumption tax raise in its first full year of implementation?
(4) How much of
the point-of-consumption tax revenue will be returned to the Western Australian
racing industry?
(5) When will the
point-of-consumption tax legislation be introduced to Parliament?
WAGERING TAX
742. Hon COLIN HOLT to the minister representing the
Treasurer:
(1) Has the
Treasurer decided on a rate for the point-of-consumption tax that is due to be
introduced on 1 January 2019?
(2) Will the
Treasurer today rule out lowering the proposed tax rate of 15 per cent, as
previously flagged?
(3) How much will the
point-of-consumption tax raise in its first full year of implementation?
(4) How much of
the point-of-consumption tax revenue will be returned to the Western Australian
racing industry?
(5) When will the
point-of-consumption tax legislation be introduced to Parliament?
AnswerView source ↗
I thank the honourable member for some
notice of the question.
(1)–(2) The government
intends to introduce the point-of-consumption tax at a rate of 15 per cent.
(3) The
point-of-consumption tax is estimated to raise $78.4 million in its first full
year of implementation in 2019–20, which is $52.6 million net of the
current wagering tax arrangements.
(4) The
government is committed to ensuring that the racing industry is no worse off as
a result of the introduction of the
point-of-consumption tax. The 2018–19 budget includes industry grants
of $7.8 million in 2018–19, $19.6 million in 2019–20,
$20.7 million in 2020–21 and $21.5 million in 2021–22.
(5) The
government intends to introduce legislation to implement the
point-of-consumption tax as soon as possible in the spring 2018 sittings.
notice of the question.
(1)–(2) The government
intends to introduce the point-of-consumption tax at a rate of 15 per cent.
(3) The
point-of-consumption tax is estimated to raise $78.4 million in its first full
year of implementation in 2019–20, which is $52.6 million net of the
current wagering tax arrangements.
(4) The
government is committed to ensuring that the racing industry is no worse off as
a result of the introduction of the
point-of-consumption tax. The 2018–19 budget includes industry grants
of $7.8 million in 2018–19, $19.6 million in 2019–20,
$20.7 million in 2020–21 and $21.5 million in 2021–22.
(5) The
government intends to introduce legislation to implement the
point-of-consumption tax as soon as possible in the spring 2018 sittings.
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