Wagering and betting entities pay the tax on their net wagering revenue, including GST, from customers located in Victoria at the time of making bets if that revenue exceeds $1 million in a financial year.
Helping you get it right
To help you get it right, we provide a range of information and tools, including:
- information on the wagering and betting tax
- an online portal where you can register, submit your monthly returns and pay the tax
- frequently asked questions and answers about the tax.
Compliance activities
Our compliance activities include:
- identifying unregistered wagering and betting entities whose total net wagering revenue exceeds the annual threshold in a financial year
- investigating entities who fail to lodge and pay amounts owing
- investigating registered wagering and betting entities to ensure that accurate total net wagering revenue amounts, inclusive of GST and free bets, have been reported and the correct amounts paid on their returns
- investigating wagering and betting entities that are related bodies or are commonly controlled who have failed to register as a group.
Submit a voluntary disclosure or tip-off
Common errors to avoid
- Not registering for wagering and betting tax when required
- Failing to register as a member of a wagering and betting tax group where entities:
- are related bodies corporate
- have the same common controlling interest in each business (for example, related shareholders, directors, unit holders, beneficiaries or partners)
- Incorrectly calculating the net winnings for free bets
- Incorrectly excluding the free bets received as part of your net wagering revenue
- Incorrectly excluding GST from the components of your net wagering revenue
- Failing to lodge a wagering and betting tax return by the due date
- Not correctly recording and reporting bets which were placed in Victoria.
