NSW racing tax cut draws criticism

he NSW racing industry's tax on every $100 wagered will be slashed by more than half from $3.22 to $1.28, which comes at the expense of the community, opponents say.

According to the Australian Associated Press, after Deputy Premier and Racing Minister Troy Grant announced the new tax rate earlier this week the rate for thoroughbred, harness and greyhound racing will be brought down in line with Victoria by 2020.

The cuts would return $235 million to the industry, which is worth $3.3 billion a year to NSW, over the next four years, Grant said.

But NSW Greens upper house MP John Kaye said the coalition could spend the money on employing 850 new teachers or 850 new nurses, the AAP reported.

Addiction Intervention CEO Chantale Ishac said the Baird government could have helped the economy by investing in early intervention and therapy.

"Gambling addiction costs our society, be it in work productivity, job loss, family breakdown, family court, high suicide rates, increased cost on our health system."

"The flow on effect is incalculable."

Australian Churches Gambling Taskforce spokesman Mark Zirnsak said the decision demonstrated the gambling industry's influence over the government.

 

"They get a freebie at the expense of the community," he told AAP.

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