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Betfair lose High Court battle in Australia - To pay 1.5% of TURNOVER
Betfair lose High Court battle in Australia - To pay 1.5% of TURNOVER
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When Chaina opens up to gambling which they love then they will choose Betfair and not crusty old bookmakers that live in the pockets of atiquated goverments.
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Tommy what is good for wealthy racehorse owners is bad for punters. Betfair has helped many people make money whether its for a living or extra money. A tax on turnover would mean a return to the days when you could only bet "for fun "
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correct , thank you howard for speaking the truth.
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lets hope China doesn't have some tax haven like Gibraltar when this "fair" business you mention moves into the market. Fortunately I don't think China are such mugs to allow these unfair business practices to happen in the first place.
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bf they will choose exchange betting but i would be confident which firm will price themselves out even if they were asked in the first place.
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Why do buissness men/women and compaines have to go to tax exiles in the first place?
Because host countries have not always allowed buinssess and persons too florish but preffered to grind them down which can mean they cant grow or survive and why should buissnesses that are successful have to continually pay for ineffective goverments that make poor hsitorecal decisions that effect us all. |
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walofs
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Bookmakers have actually warned that the new taxation could mean the loss of many jobs and outlets so how will this move help the general gambling industry at all!
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ITs those in power making decisions to take money from those in profit, plain and simple and the loss of jobs is what mostly the uk goverment is best at doing and will continue to do until it learns the hard way.
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And too the Aussie posters, next time you send a super horse over here that is probably been sponsered by us make sure it can win a race and not flop like the last one you sent over please
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Or we might send Frankel over there too Whoop you!
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What a grotesque ruling.
It creates a false incentive to scratch-trade or even risk trading at a tick loss for non-recreational industry interests. It will make prices worse for punters and protect state-assisted monopolies. I can't see a turnover tax coming back in this country, though, so long as the govt. wants Britain to be a world-leader in betting. |
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I cant see this geoverment or the last being unfair too exchanges as the British love new and great ideas as history has proven and the rest of the world still looks up to us as a fair nation.
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The "I"s have it as they say in the lords.
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Askari hope youre right. Maybe of all things the FOBTs will save us.
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The ignorance is unbelievable. They've been paying it since 2006 for god's sake. It hasn't affected anything in 6 years. Racing NSW has been saving the money up in case the decision went the other way, they have about $100 million Australian they're going to invest now. Anyone who thinks it only favours "rich horse owners" is crazy. In australia horses are often owned by people from all over the place, it's not britain where every horse is owned by ballydoyle or godolphin. And also it helps out trainers and everyone else involved in the industry and most of all it helps to keep the industry viable.
The totalisers in Australia aren't state run either. They've been privatised for years. No matter who you are in australia, a totaliser, an exchange or a corporate you pay NSW racing to use their fields. If you seriously think this means you can only bet for fun then you need to get your head examined. The totaliser odds and on course aren't far off bet fair anyway. |
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tommyjone - your ignorance is unbelievable. Turnover taxes by definition build in a minimum margin thus stifling competition. Gross profit taxes allow the market to set the margin.
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I'm perfectly aware of what it does. Just because a gross profit tax will return slightly better margins to punters does not make it a better option. Not everything has to be in the name of the free market.
We would receive slightly better margins yes, at least I think we would. But it doesn't mean the industry would be viable, efficiency is not fairness. And in this case it's not even sustainable long term, racing NSW needs money to keep the racing industry thriving. |
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bf_fananatic
Wrong tommyjone the British economy is still one of the biggest in the world and far way in front of Australia who cant even beat the burnt out Spain 6 United Kingdom 2,140,108 13 Australia 1,237,363 Can you strip out government spending, money printing and the effect of negative real interest rates? Cheers. |
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I'm just wondering how much btfr pay guys like the fantasist to write this stuff on this forum?
 Racing needs a strong betting ring and not those who profit from laying known non-triers or horses that have already fallen. As for the stuff about the "red, white and blue", I'd say that at least half of all Australians would wish this legacy of past masters was not in their flag. You will note that the national colours of her sportsmen are more like the green and gold of another well-known horseracing country. And, though I have no idea what the figures listed are supposed to be, I could see not a single Celtic country in your list, despit your saying that we do best of the lot!   Btw, those who are on the run from Irish jurisdiction are the very dodgers who broke our land by their greedy antics. So, all in all, I have to say that I cannot take much heed of your posts, Mr bf fantasist. Sorry, but it strikes me as way off the mark. I'm only a humble course punter who realises that I need bookmakers ON course. |
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Does 1.5% of Betfair's turnover equate to 60% of their profits?
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Does 1.5% of Betfair's turnover equate to 60% of their profits?
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Sean rua the Celts where not just the few stuck in Ireland or the north of Scotland that speak Celtic but all the tribes of iron age Europe from the fore-mentioned through uk France and Germany, the romans never ventured to Ireland and cared not for constant fighting with pics hence Hadrians wall.
The positive Legacy of invading empires is the infra-structure and culture that is left behind or adopted hence the part reason for these countries peoples bouncing back in the dark ages to become far greater than there mentors.America and Australia have been lucky also by this process and have Education systems, language and law systems identical to the UK . Many people only believe in what suits them and don't make impartial observations from all the data available, rather like the persons working in the law courts in this exchange beating case. |
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Ameraca is even more hard lined with its gambling firms and citizens and bans them from even having a bet on-line to suit them collecting huge taxs from any fortunate winner.
There taxation and the Australians skimming for its own racing are not good policies towards fair play. |
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It amazes me how little americans and Ausrtalians Know about history and perhaps they dont like it becasue they only have a few centurys to look at and the british may pop up in their school lessons
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I'm just wondering how much btfr pay guys like the fantasist to write this stuff on this forum?
It's pathetic, isn't it? If he isn't paid, then it takes one serious mug to come on here and talk about how BF are treated 'unfairly' and the various other shyte, day after day after day. |
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Today, Australian Gambling Authorities confirm betting exchanges will be taxed 1.1/2% on turnover, how will they absorb these charges or just accept defeat.
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tommyjone,
Has Australian racing improved over the years, from the prize persective? I'm Irish and I recollect Pat Glennon and Garney Bogoure (spelling?) coming over from Australia to ride for Vincent O'Brien in the 60s, for the money I assume. Has the Aussie racing business improved financially from those days? |
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tommyjone,
Has Australian racing improved over the years, from the prize persective? I'm Irish and I recollect Pat Glennon and Garney Bogoure (spelling?) coming over from Australia to ride for Vincent O'Brien in the 60s, for the money I assume. Has the Aussie racing business improved financially from those days? |
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barry dennis
11 Apr 12 09:48 Joined: 23 Jan 02 | Topic/replies: 348 | Blogger: barry dennis's blog Today, Australian Gambling Authorities confirm betting exchanges will be taxed 1.1/2% on turnover, how will they absorb these charges or just accept defeat. Do you have a source for this barry? |
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Victoria now increases to 2.0% for it's Carnival period. Right there on day one tells you where turnover taxes lead.
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mmmmmmmmmmmmmmmmm i live in the united knigdom so unlikly i will go to a austalian race course
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A lot of issues got confused on this thread.
I know the Aussies will come back and say Betfair have been paying it since 2006,but they obviously hoped they might get it back. Now it's clear they won't has this ruling had any effect on BF Australian markets ? |
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In this country bets as such haven`t been taxed for many years,though of course most of us are old enough to remember when they were. British firms have gone offshore to avoid paying GB Corporation Tax and to a lesser extent the Levy. Both of these are based on profits not turnover.
My memory must be failing then, or things have changed in recent years. Levy was always paid on horserace TURNOVER. As for the return of anything like the old BD - no chance. All that is likely to happen in NSW is that Betfair will increase comm rates to cover the 1.5% levy on turnover. In the UK, I'm all for the govt forcing the nomads back into the fold. |
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gross profit tax, purely based on profit came in a number of years ago, asked for by the bookmakers and granted by the government
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Try reading my post correctly Alias. Of course I am aware the levy and betting tax WERE based on turnover. Corporation tax has always been a tax on profits. The current levy is payable on profits and not turnover.
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thread was interesting til halfway down the first page,moron
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