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DISGRACEFUL - Event Date: 18 May 2018 |
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maccamax
Champion Joined: 19 Jun 2010 Status: Offline Points: 41473 |
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Posted: 18 May 2018 at 6:47pm |
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Punters' Tax could kill Betfair in Australia.
It's all happening .. 15% WA , 8% Vic ,SA, Qld and of course the NSW bastxrds are going for the turnover Tax , rather than on profit so good bye Betfair and PUNTERS> We need The SP to mushroom up and the Razor Gang to deal with Government reps. A full on Revolution , better still. |
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Second Chance
Champion Joined: 02 Dec 2007 Status: Offline Points: 45707 |
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Oh goodness gracious: those poor, poor betting agencies.
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Sneck
Champion Joined: 16 Feb 2013 Location: Payout Queue Status: Offline Points: 7555 |
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No betting agencies no punters.
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VOYAGER
Champion Joined: 04 Aug 2007 Location: Australia Status: Offline Points: 18736 |
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Looks like a government led pre-emptive strike to get Betfair's customers.
I can see TABCORP starting their own betting exchange in the near future, especially if we see a national government agency form. |
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Remember, it might take intelligence to be smart , but it takes experience to be wise
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Second Chance
Champion Joined: 02 Dec 2007 Status: Offline Points: 45707 |
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There are alternatives. And they can certainly survive as they've done thus far. Pay their fair share seems, as they otherwise give little back to the industry.
ps can't you ever disagree with someone without adding your little "get bent" petty put-downs?
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djebel
Premium Joined: 07 Mar 2007 Status: Offline Points: 53960 |
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Japan and Hong Kong thrive on TOTE only betting. Whilst I myself as a punter would not like this the racing industry would almost certainly be better off. |
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reductio ad absurdum
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maccamax
Champion Joined: 19 Jun 2010 Status: Offline Points: 41473 |
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Betfair have always been a thorn in their side. . Is probably creating more interest in the entertainment than any other source. Off subject I expect but Australia is going down the gurgler at an alarming rate in most areas. I purchased Pharmacy goods from The UK recently at 33% of the cost in Oz . ( postage included ) Governments are desperate and The racing Industry is the new target . |
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Sneck
Champion Joined: 16 Feb 2013 Location: Payout Queue Status: Offline Points: 7555 |
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This is the government destroying wagering in this country, look at the tax of Scotch Whisky for example it's criminal. This is what we have to look forward to. If this is the road they want to go down I'll move overseas and keep my money offshore and contribute nothing to the industry, suits me fine.
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Sneck
Champion Joined: 16 Feb 2013 Location: Payout Queue Status: Offline Points: 7555 |
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Losers only gambling models are dead in this country and if you go down that path you'll destroy racing.
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djebel
Premium Joined: 07 Mar 2007 Status: Offline Points: 53960 |
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If you are winning you are not contributing.
I know you guys like to push the algorithm that way but the fact of the matter is, your bookie is paying the industry via losers. It is physically impossible for you to be taking more out than you are putting in and think YOU are the one contributing. As I have said a 1000 times, I could not care what MY bookie is doing with my loses. I am a customer of bookies not racing, When I am punting I have no interest in contributing to the wealthfare of racing. |
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reductio ad absurdum
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Sneck
Champion Joined: 16 Feb 2013 Location: Payout Queue Status: Offline Points: 7555 |
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TAB mugs are a dying breed, if you don't offer the hope of winning and a viable future you won't attract customers.
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Sneck
Champion Joined: 16 Feb 2013 Location: Payout Queue Status: Offline Points: 7555 |
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I do an enormous amount for the industry through the introduction of new customers and a rehabilitation of the industry within my circle of friends and acquaintances as well as online.
If the industry switches to a no winners model I will do the opposite and convince existing and potential customers that they should give it up and point them towards a better path.
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3blindmice
Champion Joined: 22 Oct 2012 Status: Offline Points: 18105 |
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Is Betfair still alive? Was supposed to die after the High Court ruling, then the NSW turnover tax. If you want to play a bookies game pay a bookies tax imo.
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Sneck
Champion Joined: 16 Feb 2013 Location: Payout Queue Status: Offline Points: 7555 |
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Take a look at it compare to a maiden in the UK.
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3blindmice
Champion Joined: 22 Oct 2012 Status: Offline Points: 18105 |
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Lol. Your "rehabilitation" skills would be in high demand then?
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Sneck
Champion Joined: 16 Feb 2013 Location: Payout Queue Status: Offline Points: 7555 |
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Sick burn... because marketing and brand management on social media is not a big thing.
I could have done a a better job managing Hillary Clinton's social media than Lena Dunham but then again so could have a potted plant.
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Second Chance
Champion Joined: 02 Dec 2007 Status: Offline Points: 45707 |
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Oh give us a break. Don't you know pud pulling is banned on here.
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3blindmice
Champion Joined: 22 Oct 2012 Status: Offline Points: 18105 |
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Quite. Was I too subtle?
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Baghdad Bob
Champion Joined: 10 Feb 2010 Location: Victoria Status: Offline Points: 13672 |
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According to the government White paper ( below ) the PoCT is levied on profits of corporates NOT turnover, if my interpretation is correct, it will not be the end of Betfair If I place a win bet on Betfair and I am subject to a commission rate deduction on my net winnings of, say 5%, Betfair will increase that rate by 8% in Victoria to 5.4 % but if I live in SA or WA they will increase that 5% by 15% to 5,75%. |
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3blindmice
Champion Joined: 22 Oct 2012 Status: Offline Points: 18105 |
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Yes but the NSW racing fees are on turnover from memory.
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Baghdad Bob
Champion Joined: 10 Feb 2010 Location: Victoria Status: Offline Points: 13672 |
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It is ridiculous that any government could justify taxing any business on turnover. Coles would turnover billions , and is only taxed on their profits. The same principle should apply to corporate bookies and Betfair, any politician suggesting otherwise has no understanding of how business operates, whether that business be Coles or a bookmaker. Tabcorp does not pay tax on their turnover, so why should their competition.
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3blindmice
Champion Joined: 22 Oct 2012 Status: Offline Points: 18105 |
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All been argued in court iirc. There are bets and back bets involved. GST would tax both.
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