Racing and Wagering Western Australia Tax Act 2003

 

Racing and Wagering Western Australia Tax Act 2003

CONTENTS

1.           Short title                                                                         1

2.           Commencement                                                               2

3.           Interpretation                                                                   2

4.           Tax for totalisator wagers                                                 2

5.           Tax for fixed odds wagers                                                3

Notes

             Compilation table                                                              4

 

Racing and Wagering Western Australia Tax Act 2003

An Act to impose a tax on money paid in respect of wagers made through or with Racing and Wagering Western Australia.

1.           Short title

             This Act may be cited as the Racing and Wagering Western Australia Tax Act 2003.

2.           Commencement

             This Act comes into operation on a day to be fixed by proclamation.

3.           Interpretation

             In this Act —

              fixed odds wager has the same meaning as in the RWWA Act;

              gross revenue, in relation to off‑course racing wagers, means the amount equal to A minus B, where —

                 (a)    A is the amount of all moneys paid to RWWA in respect of those wagers; and

                 (b)    B is the amount of all moneys paid by RWWA by way of winnings in respect of those wagers;

              off‑course racing wager has the same meaning as in the RWWA Act section 102;

              RWWA means Racing and Wagering Western Australia established under the RWWA Act;

              RWWA Act means the Racing and Wagering Western Australia Act 2003;

              totalisator has the same meaning as in the RWWA Act.

              [Section 3 amended by No. 3 of 2007 s. 4.]

4.           Tax for totalisator wagers

     (1)    Subject to subsection (2), the rate of tax imposed by this Act and payable under the RWWA Act in relation to wagers included in a totalisator is 5% of all moneys paid to RWWA in respect of those wagers made through or with RWWA under the RWWA Act.

     (2)    The rate of tax imposed by this Act and payable under the RWWA Act in relation to off‑course racing wagers is 11.91% of the gross revenue received by RWWA in respect of those wagers.

              [Section 4 amended by No. 3 of 2007 s. 5.]

5.           Tax for fixed odds wagers

             The rate of tax imposed by this Act and payable under the RWWA Act in relation to fixed odds wagers is —

                 (a)    2% of all moneys paid to RWWA in respect of fixed odds wagers made on horse or greyhound races; and

                 (b)    0.5% of all moneys paid to RWWA in respect of fixed odds wagers made on events, including sporting events,

             through or with RWWA under the RWWA Act.

 

Notes

1        This is a compilation of the Racing and Wagering Western Australia Tax Act 2003 and includes the amendments made by the other written laws referred to in the following table.

Compilation table

Short title

Number and Year

Assent

Commencement

Racing and Wagering Western Australia Tax Act 2003

37 of 2003

26 Jun 2003

30 Jan 2004 (see s. 2 and Gazette 30 Jan 2004 p. 397)

Racing and Wagering Western Australia Tax Amendment Act 2007

3 of 2007

28 Mar 2007

1 Jul 2007 (see s. 2)