So proud
Hate the things... Andrew Wilkie tried to do something about them... but...
Sadly I think the tax take means they are here to stay in the eastern states: Here are the figures of machines in use:
New South Wales
: 100,500
Queensland
: 47,811
Victoria: 30,000
South Australia
: 13,113
Australian Capital Territory
: 5,200
Tasmania: 3,680
Northern Territory: 2,195
Western Australia: 1,750
In 2015-2016, NSW had 93K machines, which had revenues of ~$80B. And what does the NSW tax look like... here it is:
If a club makes less than $250,000 in quarterly gaming machine profit, it pays no tax.
For clubs that make a quarterly profit over $250,000 and up to $450,000, the quarterly tax rate is 28.05%.
If a club makes more than $450,000 in quarterly profit, the following rates apply:
- 0% (nil) on the first $250,000
- 28.05% on the profit over $250,000 up to $450,000
- 18.05% on the profits over $450,000 up to 1.25m
- 22.55% on the profit over $1.25m up to $2.5m
- 24.55% on the profit over $2.5m up to $5m
- 26.55% on the profit over $5m
What does that all mean - a little more than $2B into the NSW government coffers in 2014-2015 (from the $68B gaming machine revenue). Good luck convincing a government to give up that line of revenue.
In WA, we are lucky, the horrid things are restricted to just one place... the casino...
