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Australia Moves to Impose Point-Of-Consumption Online Betting Tax

Australia Moves to Impose Point Of Consumption Online Betting Tax

The Australian government has announced plans for introducing a point-of-consumption tax (POC) on online gambling.

Federal Treasurer Scott Morrison told Australian media that a proposal for a consistent approach to the new tax is to be devised for the entire territory of the country.

The discussions on the upcoming taxation were held on Friday, prior to approving the 2017 budget. According to Morrison, the initiative doesn’t simply aim to increase state revenue but is also targeted at enhancing security for consumers and national sports bodies.

It is not clear when the legislation will be adopted as the authorities need to look further into the issue.

Gambling-related taxation in Australia follows the recent amendments to national online gambling laws that criminalize internet poker and in-play sports betting. Last week, the Senate approved the Interactive Gambling Amendment Bill 2016 which prohibits all online gaming activities not specifically authorized within the new national codes.