New South Wales Consolidated Acts

BETTING TAX ACT 2001 - SECT 9

9 Betting tax on totalizator roundings

(1) Betting tax is payable on totalizator roundings.

(2) The tax payable is 19.11 per cent of the total amount of roundings arising in respect of each day on which a totalizator is conducted by a totalizator licensee on one or more events or contingencies.

(3) The tax is payable by the licensee.

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

(5) In this section:
"rounding" means an amount that would ordinarily form part of a dividend but that is retained by a licensee as a result of the rounding down of an amount calculated as dividend.