October 16, 1997 Ban Online Gambling? Australia Would Rather Tax It By JERI CLAUSING ASHINGTON -- While American politicians struggle to find a way to ban or at least restrict Internet gambling, Australian lawmakers have drafted a plan to use online gambling to boost their coffers. South Australia’s pioneering move to tax online gambling companies on revenue they earn inside its state borders at first blush might seem like a modest burden on a $10bn a year industry. Online gambling tax When 80% of the adult population gambles, which is the case in Australia (and it’s the highest percentage in the world), the government is most likely going to tax you on it. Even when that’s not the case, most countries consider gambling winnings a form of income, and in turn will tax it as such. You can have the information online regarding tax on gambling winnings in Australia. There is no expense to pay for online Australian players either, notwithstanding a couple of online Australian casinos in operation. The main fees or charges a player may experience when playing an online gambling club could be fees to withdraw or store cash Gambling Income Tax in Australia. Australia taxes professional gamblers income tax at a rate of 30%. This is not a concern to anyone other than those gambling as a profession / primary source of income. For all recreational players gambling is generally not considered income for tax purposes. New Online Gambling Tax in South Australia The Australian Wagering Council has slammed the decision by the South Australian government to implement a ‘place of consumption’ tax on bets laid within the state. It doesn’t matter what form of gambling you are participating in if you are in Australia, and you report your income tax to the Australian Taxation Office (ATO) you will never pay tax. This is not the case for other countries though, for example, the USA, France, and Spain all charge tax to the player on their winnings. In Australia, the Interactive Gambling Act (2001) governs the rules and laws about online gambling. This is a national law and that was first enacted in the Australian Parliament on June 28, 2001. The Act targets online gambling operators. And makes it an offence for them to offer ‘real-money’ online interactive gambling to residents in Australia. Yes, the Interactive Gambling Act allows forms of online gambling in Australia. The regulation and legality of Australian online gambling function on two levels. The first stage is the Federal Government regulation the industry in the country and the next level is regulated by states and territory government agencies. The NSW government will place a 10 per cent tax on all online gambling bets when the state budget is handed down by Treasurer Dominic Perrottet next week.
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