TOTALISATOR TAX

Press, Volume LXVI, Issue 20010, 19 August 1930, Page 14

TOTALISATOR TAX

PROPOSED INCREASE. ADDITIONAL £IOO,OOO LOOKED FOR. [THE PRESS Special Service.] WELLINGTON, August 18. "I think these men, comprising as they do a sporting community, will feel quite satisfied to do their little bit at a time like this," remarked the Prime Minister, the Hon. Q. W. Forbes, in announcing in the House of Representatives to-day that the increase in the totalisator tax from 2} per cent, to 5 per cent, was estimated to yield an additional £IOO,OOO a year. Referring to the totalisator tax during his outline of the proposals in the Finance Bill, the Prime Minister said it was considered that this form of securing revenue was quite fair. Mr A. Harris (R., Waitemata): Will the Government debate the Gaming Amendment Bill? Mr Forbes said that was a question resting with Mr Harris. He understood that the member for Bay of Plenty (Mr K. S. Williams) would go ahead with the Bill, and the House would probably have a chance of dealing with it later on. After all, the clubß were not the ones who paid the tax, but the people who put their money through the totalizator, and he felt that they would be willing to do their bit towards assisting the country in such a difficult time. He had had a chance recently of mixing with investors on a racecourse, and he had endeavoured to find out their opinions and what their attitude would be if the Government decided to impose a further tax on the totalisator. One and all they had assured him that they would assist the Government quite cheerfully in the difficult position in which it found itself. " After all, they are Bportsmen, and they are quite prepared to carry their share of the burden, the Prime Minister added. A member: Perhaps they had just collected a dividend. The Prime Minister said the question had arisen whether the new tax would affect investments. That, after all, was only a matter of opinion, for there was no reliable guide as to whether that would occur or not. In hit. opinion, any man who placed a pound on the totalisator was glad to get even part of it back, and he considered that as these people betted purely as a luxury, the totalisator was perfectly reasonable as a form of raising revenue. Mr F. Waite (R., Clutha): Don't yon think the result you suggested might be reflected! Mr Forbes said it had to be admitted that there had been a fall in totalisator investments, but It was quite an open question whether the coming year would result in little increase from the tax as a result of smaller totalisator receipts.