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ACT becomes third state to introduce POC tax

The Australian Capital Territory (ACT) is set to become the third state in the country to introduce a point of consumption (POC) tax, local media reports.

ACT Chief Minister and Treasurer Andrew Barr revealed the 15 percent POC tax during the state’s 2018/19 budget on Tuesday.

Last year, South Australia became the first state to announce a POC tax, with a 15 percent tax on net wagering revenue of Australian-based betting companies offering services in that state.

Last month, Victoria introduced an 8 percent POC tax, set to come into effect on January 1, 2019.

The point of consumption tax will apply to bets taken on horse, harness and greyhound racing, sports such as AFL, cricket, soccer, as well as any an all types of event betting.

Queensland’s state budget, which will be delivered on June 12, is also expected to announce a 15 percent POC tax rate.

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