NSW government to increase gambling taxes

NSW government to increase gambling taxes

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NSW government to increase gambling taxes

The government of the Australian state of NSW will be pursuing a proposal to increase local gambling taxes.

Back in December of last year, the state’s previous government introduced a proposal that had the aim of increasing taxes on all local gambling operators. The proposal was originally meant to go into effect from the 1st of July, however, the previous government was not able to fully implement it before the state’s recent election which took place in March.

NSW’s new government has been thinking about implementing the proposed changes since it came into power and has been in discussions with local gambling operators about the increase. It has recently announced that it will be pursuing the proposal after the NSW parliament’s upcoming winter recess.

The government’s latest announcement has been met with criticism, with one of Australia’s largest gambling operators, Star Entertainment, calling it “flawed” and “unsustainable”. The company added that the proposed increase would put pressure on its establishment in Sydney, making its operating environment quite challenging.

Back in April, Star Entertainment announced a restructuring plan, which will entail numerous layoffs and other measures to help the firm reduce its operating costs. Read about the operator’s announcement here.

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