New South Wales Consolidated Acts

BETTING TAX ACT 2001 - SECT 10

10 Betting tax on approved betting activities

(1) Betting tax is payable on net earnings in connection with the total amount of bets placed with a totalizator licensee in respect of an approved betting activity conducted by the licensee on each day on which such an activity is conducted.

(2) The tax payable is 10.91 per cent of the amount obtained by subtracting from the total amount of bets placed with the totalizator licensee in respect of an approved betting activity conducted by the licensee on a day the total amount payable as dividends or other returns to investors in respect of those bets.

(3) The tax is payable by the totalizator licensee.

(4) The tax is payable within 7 days after the day in respect of which the tax is payable.

(5) In this section:
"approved betting activity" means a betting activity approved under section 13 of the Totalizator Act 1997 to be conducted by a totalizator licensee under that Act.