When NSW treasurer Daniel Mookhey delivers his third state budget on Tuesday, there is unlikely to be any mention of a rise in Point of Consumption Tax (POCT) or the ongoing review of Tabcorp’s deal in the state.
This time last year, speculation was rife that Mookhey would look to lift the NSW POCT rate from 15 to 20 per cent, much to the chagrin of racing administrators, wagering executives and professional punters.
However, a week out from the 2024 budget, the treasurer announced a review into Tabcorp’s licensing agreements in NSW after receiving a proposal from the wagering giant to create what it calls a ‘level playing field’ – although its rivals beg to differ.
Put simply, it wanted a similar deal to what it had achieved in Victoria and Queensland and was willing to pay a considerable fee – said to be around $700 million - to buy out of its current exclusivity deal which runs until 2033.
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