Victorian Point of Consumption Tax Changes

VICTORIAN RACING INDUSTRY MEDIA STATEMENT

The Victorian Racing Industry (VRI) welcomes the Victorian Government’s proposed changes to the Victorian Point of Consumption Tax (POCT) arrangements which will result in an increase to the VRI’s share of ongoing funding derived from the POCT collected, providing important long-term certainty for the VRI.

The Victorian Government has today announced that it will introduce legislation to increase the POCT on wagering by Victorian residents from 10% to 15% of net wagering revenue from 1 July 2024.

This increase will bring Victoria’s POCT into line with New South Wales, Western Australia, South Australia and Tasmania at 15%, whilst Read full article

Source:: https://www.grv.org.au/news/2023/05/02/victorian-point-of-consumption-tax-changes/

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