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Australia’s NSW to cut betting tax rates to boost racing industry

18th June 2015 8:39 am GMT

The Australian state of New South Wales (NSW) has introduced a five-year plan to bring tax rates on racing bets in line with the neighbouring state of Victoria.

The government said that the tax parity will boost the thoroughbred, harness and greyhound racing industry’s competitiveness and make NSW the premier racing state in Australia.

NSW’s take from each bet has always exceeded that of Victoria’s and Queensland’s, and is currently more than double, with NSW taxing $3.22 [...]

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