ACT government introduces 15 pct POC tax

The Australian territory announced that the 15 per cent POC tax will apply to gambling operators.

Australia.- The government from the Australian Capital Territory (ACT) has introduced a new 15 per cent point of consumption (POC) tax on gambling operators, which will be applied to revenue generated through bets places in the ACT.

The tax, which will also be applied to wagers made by residents in the ACT territory, is similar to what other states in Australia have already introduced. Betting operations will be taxed at 15 per cent for sports betting, horse racing and non-sport events.

The Canberra Times obtained budget papers that indicate that the ACT expects to generate additional US$1.5 million a year thanks to the new tax rate. “The introduction of this tax will bring the ACT into line with multiple other Australian jurisdictions which are also in the process of implementing point of consumption tax arrangements,” the papers said.