Racing codes welcome betting operations tax revenue increase
South Australia’s three racing codes – Racing SA, Greyhound Racing SA and Harness Racing SA – have been advised that the Government of South Australia will increase the return of betting operations tax revenue to the racing industry from 10 to 20 per cent.
The new funding model will commence from 1 July 2023 and will run for four years.
As with the current model, the funding will be shared between the codes based on market share.
The three codes have worked tirelessly to make South Australian racing nationally competitive and return of tax income generated by racing is a significant factor in achieving that competitiveness.
We therefore welcome the increase and appreciate this strong signal of support from the state government for an industry that is both a significant employer and economic contributor to the state.
We look forward to demonstrating that the faith the government has shown through this increase will deliver strong returns to the state and thus put us in a position to press our case for further investment in the future.