WINNING BETS
TAXATION IN AUSTRALIA. BOOKMAKERS’ RETURNS AFFECTED. (United Press Assn.—By Telegraph—Copyright.) (Rec. 5.5 p.m.) Sydney, December 21. The betting tax on winning wagers was inaugurated at the Randwick meeting on Saturday and caused a marked decline in bookmakers’ transactions which, according to the ring, were scarcely 25 per cent, of the usual volume. The totalisator, however, showed a considerable increase. Punters, despite the publicity given to the subject, seemed unable to understand why the bookmakers, who are responsible for deducting and handing to the Government 10 per cent, of the winning bets, paid only 108/- for 120/- aud were inclined to argue the matter till one bookmaker referred them to Mr Lang if they desired any explanation. The tax does not apply to totalisator winnings.
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Bibliographic details
Southland Times, Issue 21275, 22 December 1930, Page 5
Word Count
126WINNING BETS Southland Times, Issue 21275, 22 December 1930, Page 5
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