Racing (Amendment) Act 1975 (NSW)

RACING (AMENDMENT) ACT.

ANNO VICESIMO QUARTO

ELIZABETHE II RE GINE

Act No. 88 ,1975 .

An Act to increase certain taxes and duties payable in connection with racing; to reduce the rate of supple­ mentary tax payable by certain racing clubs and the duty payable in respect of betting tickets; to validate certain matters; for these and other purposes to amend the Finance (Taxation) Act, 1915, and certain other Acts; and for purposes connected therewith. [Assented to, 10th December, 1975.] BE

Council and Legislative Assembly of New South Wales in	BE it enacted by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative
Parliament assembled, and by the authority of the same, as follows!—
1. This Act may be cited as the "Racing (Amendment)

Act, 1975".

2.      (1) This section and sections 1 and 8 shall commence

on the date of assent to this Act.

(2) Section 3 shall be deemed to have commenced on

1st January, 1975.

(3) Sections 4, 5, 6, 7 and 9 shall commence on 1st

January, 1976.

3. The Finance (Taxation) Act, 1915, is amended by

omitting from section 6 (7) the matter "subsection (3)" and

by inserting instead the matter "subsections (3) and (4)" .

The Finance (Taxation) Act, 1915, is further amended by omitting from section 6 (3) (a) the words "fifteen per centum" and by inserting instead the words "seven and one-half per centum".

4.

5. The Totalizator Act, 1916, is amended—

(a) (i) by omitting from section 8 (1) the words "thirteen per centum" and by inserting instead the words "fourteen per centum";

(ii)   by omitting from section 8 (2) (a) the word "eight-thirteenths" and by inserting instead the word "eight-fourteenths";

(iii)   by omitting from section 8 (2) (b) the word "five-thirteenths" and by inserting instead the word "five-fourteenths";

(b) by omitting from section 10 (2) the words "thirteen per centum" and by inserting instead the words "fourteen per centum".

6.      The Stamp Duties Act, 1920, is amended by omitting

from the Second Schedule the matter relating to betting

tickets and by inserting instead the following matter :—

BETTING TICKETS—

(a) Where the betting ticket is issued in the saddling paddock of the racecourse at Canterbury, Rand- 0.02

wick, Rosehill, Warwick Farm,

Harold Park or Wentworth Park. The bookmaker.

(b) Where the betting ticket is issued in any part of a racecourse except the saddling paddock of a race- course specified in paragraph (a).	0.01
7.

The Finance (Greyhound-racing Taxation) Act, 1931, is amended by omitting from section 4 (2) (a) the words "fifteen per centum" and by inserting instead the words "seven and one-half per centum".

8. The Racing Taxation (Betting Tax) Act, 1952, is

amended—

(a)	by omitting from section 2 the word "There" and by inserting instead the words "Subject to subsection
(2) , there";
(b)	by inserting at the end of section 2 the following subsection :—

(2) In respect of a bet made on or after 1st January, 1976, relating to an event or contingency referred to in subsection (1) that is determined on or after that date, the rate of tax is, instead of the rate specified in that subsection, two per centum of the total amount of the bets made by backers with any bookmaker.

9. The Totalizator (Off-course Betting) Act, 1964, is

amended—

(a)	by omitting from section 14 (2) the word "made—" and by inserting instead the words "made, pay thirteen twenty-eighths of that commission to the Treasurer to be carried to and form part of the Consolidated Revenue Fund.";
(b)	by omitting section 14 (2) (a) and (b);
(c)	by omitting from section 14 (3) the word "pay­ ments" and by inserting instead the words "a payment".

SYDNEY