Monday, August 08, 2022

Tabcorp receives legal claim from Racing Queensland

Tabcorp Holdings and its UBET Qld unit have received a statement of claim from Racing Queensland related to the state’s new point of consumption tax (POC).

Racing Queensland is seeking damages and other relief under two arrangements, including the principal document governing the arrangements between Racing Queensland and UBET Qld Limited, the company said in a statement to the Australian Stock Exchange.

The claim has been lodged in the Supreme Court of Queensland. 

Tabcorp confirmed the dispute relates to the calculation of fees following the introduction of the POC, but gave no further details as to the amount of the claim. 

“Pending further analysis and review the company expects to defend its position vigorously,” it said. 

According to local media the dispute arose after Tabcorp and Racing New Zealand were unable to reach an accord over additional fees it needs to pay from its online operations. 

Tabcorp pays more than $900 million a year to Australia’s racing bodies, but under the POC, bookies must also pay taxes to the state’s racing authority when they take bets from citizens of that state. 

Queensland’s POC tax is set at 15 percent of wagers and came into force in October 2018.

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