Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Clamp down on offshore betting welcomed


Clamp down on offshore betting welcomed

Friday 15 August 2014

The New Zealand Racing Board welcomes the commitment of both the Government and Labour party to tackle the issue of offshore betting.

Racing Minister Nathan Guy says it’s now a priority, and his team intend to work closely with the racing industry to look for practical solutions to the problem after the election.

Racing Spokesperson Ross Robertson says Labour will pass legislation to stop offshore betting websites from avoiding tax in New Zealand and denying revenue to the New Zealand racing industry.

The TAB estimates that New Zealanders bet up to $300 million per year with overseas agencies that isn’t subject to levies or taxes.

New Zealand Racing Board Chair Glenda Hughes says leakage is increasing and now a major threat to New Zealand’s racing industry.

“We have long called for measures to level the playing field and ensure the racing industry sees a benefit from their investment.”

“We have been working with the current government on this issue and we are pleased that both these political parties now see the need to take action.”

The racing industry plays a critical role in the New Zealand economy contributing $1.6 billion to GDP – on par with the seafood and wine industries.

It’s a major source of employment, supporting over 17,000 full time jobs across the country.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Postnatal Depression: 'The Thief That Steals Motherhood' - Alison McCulloch

Post-natal depression is a sly and cruel illness, described by one expert as ‘the thief that steals motherhood’, it creeps up on its victims, hiding behind the stress and exhaustion of being a new parent, catching many women unaware and unprepared. More>>


DIY: Kiwi Ingenuity And Masking Tape Saves Chick

Kiwi ingenuity and masking tape has saved a Kiwi chick after its egg was badly damaged endangering the chick's life. The egg was delivered to Kiwi Encounter at Rainbow Springs in Rotorua 14 days ago by a DOC worker with a large hole in its shell and against all odds has just successfully hatched. More>>


Trade: Key To Lead Mission To India; ASEAN FTA Review Announced

Prime Minister John Key will lead a trade delegation to India next week, saying the pursuit of a free trade agreement with the protectionist giant is "the primary reason we're going" but playing down the likelihood of early progress. More>>



MYOB: Digital Signatures Go Live

From today, Inland Revenue will begin accepting “digital signatures”, saving businesses and their accountants a huge amount of administration time and further reducing the need for pen and paper in the workplace. More>>

Oil Searches: Norway's Statoil Quits Reinga Basin

Statoil, the Norwegian state-owned oil company, has given up oil and gas exploration in Northland's Reinga Basin, saying the probably of a find was 'too low'. More>>


Modern Living: Auckland Development Blowouts Reminiscent Of Run Up To GFC

The collapse of property developments in Auckland is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 as banks refuse to fund projects due to blowouts in construction and labour costs, says John Kensington, the author of KPMG's Financial Institutions Performance Survey. More>>


Health: New Zealand's First ‘No Sugary Drinks’ Logo Unveiled

New Zealand’s first “no sugary drinks logo” has been unveiled at an event in Wellington... It will empower communities around New Zealand to lift their health and wellbeing and send a clear message about the damage caused by too much sugar in our diets. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news