Gambling Regulation Amendment (Wagering and Betting Tax) Act 2021 (Vic)

Gambling Regulation Amendment (Wagering and Betting Tax) Act 2021

No. 21 of 2021

table of provisions

Section  Page

1Purpose

2Commencement

3Imposition and rate of tax—net wagering revenue of a wagering and betting entity

4Imposition and rate of tax—net wagering revenue of a group

5Repeal of this Act

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Endnotes

1      General information

Gambling Regulation Amendment (Wagering and Betting Tax) Act 2021

No. 21 of 2021

[Assented to 16 June 2021]

The Parliament of Victoria enacts:

1Purpose

The purpose of this Act is to amend the Gambling Regulation Act 2003 to increase the rate of wagering and betting tax.

2Commencement

This Act comes into operation on 1 July 2021.

3Imposition and rate of tax—net wagering revenue of a wagering and betting entity

In section 4.6A.3(1) of the Gambling Regulation Act 2003, for "8%" substitute "10%".

4Imposition and rate of tax—net wagering revenue of a group

In the formula in section 4.6A.15(1) of the Gambling Regulation Act 2003, for "8%" substitute "10%".

5Repeal of this Act

This Act is repealed on 1 July 2022.

Note

The repeal of this Act does not affect the continuing operation of the amendments made by it (see section 15(1) of the Interpretation of Legislation Act 1984).

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Endnotes

1   General information

See for Victorian Bills, Acts and current authorised versions of legislation and up-to-date legislative information.

Minister's second reading speech—

Legislative Assembly: 5 May 2021

Legislative Council: 25 May 2021

The long title for the Bill for this Act was "A Bill for an Act to amend the Gambling Regulation Act 2003 to increase the rate of wagering and betting tax and for other purposes."