NSW Labor promises tax cuts for gamblers

#1022 for broadcast on 2CH Sydney, 18 Jan 2015.

If Labor wins government at the March state election, punters at the racetrack stand to gain from a significantly increased prize pool, as Labor’s policy to cut taxes on betting wins kicks in.

The policy, set to increase prize money from $15,000 to $20,000 at country race tracks, and stem the flow of owners from the industry, would see the tax on wagers cut by more than 60 per cent from January 2016.

NSW Opposition Leader Luke Foley said the tax cuts would create 2,000 jobs and bring NSW into line with other states.

Mr Foley said the racing industry had invested in programs to address problem gambling, and racing was “a comparatively small contributor” to problem gambling.

He said poker machines were “far more of an issue” but offered no assurances that a NSW Labor government would take any action whatsoever to address problem gambling by implementing recommendations arising from last year’s Legislative Council inquiry report into the social impact of problem gambling.

I’m Rod Benson for the NSW Council of Churches.