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New Zealand Betting Levy To Be Repealed

Friday, 17th May 2019

Racing Minister of New Zealand, Winston Peters, has announced a repeal of the betting levy (racing totalisator duty) currently paid by the racing industry to the Crown. Peters made the pre-Budget announcement when opening the NZB Karaka May Sale in Auckland on Friday. Peters announced that payment of the levy to the Crown will be phased out over a three-year period, with freed-up funds to be redirected to the racing and sports sectors. The betting levy represents 4 percent of betting profits which amounted to $13.9 million in 2018. “Redirecting the betting levy is a step towards revitalising of the racing industry. It was a recommendation of the Messara review of the racing industry, and was endorsed by the Ministerial Advisory Committee (MAC),” Peters said. “The racing industry plays a vital role in the New Zealand economy, having contributed $1.6 billion to the economy in 2016/17 whilst employing tens of thousands of New Zealanders, many of them young, and boosting New Zealand’s exports.” Saying this was just one of a number of steps the kiwi government is undertaking, last month Peters also announced a Government agreement to a stepped response to the Messara Report, introducing two new pieces of legislation to bring new governance arrangements and other sources of industry revenue.

Winston Peters

Winston Peters at the 2019 NZB May Sale (pic: Trish Dunell)
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