TAX ON WINNING BETS

Otago Daily Times, Issue 21221, 30 December 1930, Page 7

TAX ON WINNING BETS

EFFECT IN SYDNEY., ~ BOOKMAKERS SEVERELY HIT. (United Press Association.) (By Electric Telegraph—Copyright.) ’■ ■ SYDNEY, December 29, So severely has the 10 per cent, tax on winning bets hit the Sydney bookmakers that several are arranging to move to other States. Several have already intimated that they do 1 not intend to pay the annual taxation fee of £7O, which is due on January 1, for the right to bet in the paddock. In addition they have to pay a license fee to the Australian Jockey Club. Indeed, the bookmakers are so perturbed by the falling off of attendances at the larger meetings and the disinclination of clients to make wagers under the present conditions that they consider it would be advantageous if they held aloof until the betting tax was modified or repealed. It is reported that more than one Sydney racecourse is closing down before long. ‘

RECEIPTS FROM TAX,

OFFICIALS SATISFIED. ■ ,

SYDNEY, December 29. ■' (Received Dec. 30, at 1.15 a.m.) It was officially stated to-day that the Ministry has no intention of either modifying or repealing the betting tax, and it is understood that the Treasury officials arc perfectly satisfied with the results of this tax to date, and point out that they fully expected considerable opposition and resentment. The Government will most likely license starting-price betting shops which are now evading the tax, and provide heavier penalties for convictions.