If you have been impacted by a natural disaster and require assistance with your fines or fees, call us on 1300 138 118 to discuss your options. Some online services will be unavailable on Sunday.
A new rebate has been made available from 4 September 2024. The rebate is available for medical centres who bulk bill a majority of their GP services. Click the arrow to find out more including detailed eligibility criteria.
Monthly return for the period 1 July 2019 to 30 June 2020
In this example the full financial year threshold is $1,000,000.
The June (annual) return results in tax payable by the betting service provider.
Month
NWR* for month
NWR year to date
Threshold balance
Taxable NWR for month
Tax payable for month @ 10%
Threshold entitlement for year
$1,000,000
July
$400,000
$400,000
$600,000
Nil
Nil
August
- $100,000
$300,000
$700,000
Nil
Nil
September
$300,000
$600,000
$400,000
Nil
Nil
October
$450,000
$1,050,000
Nil
$50,000
$5,000
November
$1,500,000
$2,550,000
Nil
$1,500,000
$150,000
December
$475,000
$3,025,000
Nil
$475,000
$47,500
January
$350,000
$3,375,000
Nil
$350,000
$35,000
February
- $200,000
$3,175,000
Nil
Nil
Nil
March
$275,000
$3,450,000
Nil
$275,000
$27,500
April
$250,000
$3,700,000
Nil
$250,000
$25,000
May
- $25,000
$3,675,000
Nil
Nil
Nil
*NWR is net wagering revenue
The threshold from 1 January 2019 to 30 June 2019 is $500,000.
Annual reconciliation
Your June return is used as a reconciliation to recalculate your annual liability. You must submit your annual reconciliation by 21 July each year.
In your annual reconciliation, you must enter a breakdown of your net NSW wagering revenue for the annual period. If your reconciliation results in an overpayment of tax, you'll get a refund.
You must lodge a return even if your tax payable is zero.
Contact us if you've made any errors in your annual reconciliation.
Example 2: This example shows an annual reconciliation, following the monthly returns calculated in example 1.
1. NSW totalizator bets NSW revenue from totalizator pools
$2,000,000
2. NSW betting exchange bets All fees/commissions paid to the betting operator
$800,000
3. Other NSW bets
$1,200,00
Total other NSW bets
$1,000,000
Total fees and commissions
$500,000
Less total winnings
$150,000
Less total refunds
$150,000
4. Unclaimed winnings for NSW bets
$50,000
5. Other amounts Other amounts paid to the betting operator for NSW bets
$100,000
Net NSW wagering revenue
$4,150,000
Less threshold
$1,000,000
= Taxable net NSW wagering for year
$3,150,000
Tax payable @ 10%
$315,000
Less previous payment made
$290,000
Balance
$25,000
Plus interest
$0.00
Total amount payable
$25,000
Tax offset to totalizator
Betting tax and tax parity industry funding arrangements payable by the totalizator licensee will continue following the introduction of point of consumption tax.
The totalizator licensee can offset their betting tax paid against their point of consumption tax liability.
Record keeping
As a betting service provider, you must keep all records necessary to accurately assess your point of consumption tax liability for at least five years.
Liquor and Gaming NSW will conduct compliance audits and can ask you to supply written or electronic records to determine whether you're compliant with your tax obligations.
