« News index »
TABCORP RESOLVES VICTORIA TAX ISSUE
21st May, 2015 at 09:48:04
Better result for Aussie gambling group.
Tabcorp Holdings Limited has announced that it has resolved with the Australian Taxation Office the tax treatment of the $597.2 million it paid to the State of Victoria in 1994 in relation to the wagering and gaming licences granted at that time.
The agreed tax treatment provides Tabcorp with an allowable deduction of A$429.6 million, with the balance generating a capital loss of A$167.6 million.
Tabcorp will recognise an income tax benefit of A$128.9 million in its financial statements for the year ending 30 June 2015 as a result of the agreement.
Related News Tags: Australia
GROWING ROW IN AUSTRALIA OVER FEDERAL GOVERNMENT PLANS TO BAN GAMBLING ADVERTS
16th March, 2017 at 08:13:32
Federal government is reportedly mulling a ban on gambling adverts during live sports broadcasts which could cost media companies A$120 million or more in lost revenue.
WILL HILL HAS BIG PLANS FOR AUSTRALIA
06th March, 2017 at 06:25:03
Undeterred by a largely hostile government attitude to online gambling, UK bookie plans to increase its penetration and market share.
ONLINE GAMBLING ENTREPRENEUR JOINS FORCES WITH BITCOIN CREATOR
02nd March, 2017 at 16:50:53
Calvin Ayre and Craig Wright (aka Satoshi Nakamoto) go after patent protection.
CHINESE CLAMPDOWN ON HIGH ROLLERS IMPACTS AUSSIE LAND OPERATORS
16th February, 2017 at 06:54:37
17 Crown employees remain incarcerated in China months after being arrested.
FORMER UKGC COMMISH WEIGHS IN ON AUSSIE REGULATION
02nd February, 2017 at 09:41:45
Meets Australian lawmakers to share experience regarding proposed amendments to the Interactive gambling act.