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

 


Clamp down on offshore betting welcomed

MEDIA RELEASE

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.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Our Fresh Water: Monitoring Report Confirms Serious Challenges For Rivers

• nitrogen levels are getting worse at 55 percent and getting better at 28 percent of monitored river sites across New Zealand • phosphorus levels are getting better at 42 percent and getting worse at 25 percent of monitored river sites across New Zealand More>>

ALSO:

Stats: Wind And Geothermal Emerge As Significant Sources Of Energy

Geothermal’s contribution to New Zealand’s total renewable energy generation increased from 11.5 percent in 2007 to 21 percent in 2015.... The value of wind jumped from $238 million (2 percent of total renewable energy generation) in 2007 to $884 million (6 percent) in 2015. More>>

Errors Found: Electricity Authority Dumps Transmission Pricing Modelling

The Electricity Authority is ditching the cost-benefit analysis at the heart of its controversial attempt to find a new way to divide up costs for the national grid after finding an expanding range of serious computational errors in the work by Australian consultancy Oakley Greenwood. More>>

ALSO:

New Record: Migrant Arrivals At 129,500 A Year

Annual net migration has been steadily increasing since 2012. "This was mainly due to the rising number of migrant arrivals to New Zealand," population statistics senior manager Peter Dolan said. "Fewer migrant departures also contributed to the increase in net migration." More>>

ALSO:

Launched: NASA's Super Pressure Balloon Takes Flight From NZ

NASA successfully launched its football-stadium-sized, heavy-lift super pressure balloon (SPB) from Wanaka, New Zealand, at10:50 a.m. Tuesday, April 25 (6:50 p.m. April 24 in U.S. Eastern Time), on a mission designed to run 100 or more days floating at 110,000 feet (33.5 km) about the globe in the southern hemisphere's mid-latitude band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news