TAB selects Entain as preferred partner for outsourcing deal

[slam dunk]

19 hours ago, mardigras said:

Why don't you do us all a favour and read the legislation. The TAB does not pay any tax except for GST as a tax collector. Do you think other business should be allowed to conduct business and be exempt from paying GST?

No Income tax. It seems that apart from not paying income tax, you think the racing industry should also be exempt GST. Delusional.

The NZ Racing industry is a beneficiary. Much like a person receiving the unemployment benefit. Except, even the recipient of the unemployment benefit, has to pay tax on that benefit.

You are showing you have no understanding of how the TAB operates and how the industry is funded.

Rubbish,

OK Winston Peters did away with the betting levy which is only now being realized. But to pay income tax on the amount deducted from bets would mean no gambling enterprise would be viable. I have no idea where you are coming from. If racing had to pay that tax then they could claim the cost that owners spend on training and selling the rights to use their product. In fact the income would always be in negative territory as the owners would charge a significant amount nowhere near covered by prize money.

Before you go off spouting your "superior knowledge" do some thinking.

[mardigras]

Just now, slam dunk said:

Rubbish,

OK Winston Peters did away with the betting levy which is only now being realized. But to pay income tax on the amount deducted from bets would mean no gambling enterprise would be viable. I have no idea where you are coming from. If racing had to pay that tax then they could claim the cost that owners spend on training and selling the rights to use their product. In fact the income would always be in negative territory as the owners would charge a significant amount nowhere near covered by prize money.

Before you go off spouting your "superior knowledge" do some thinking.

Looks like you didn't read the legislation.

As for your stupid comment about paying income tax. Aussie betting operators do.

There isn't an amount deducted from bets, there is an amount of GST payable on the gross revenue from bets - since betting is a GST taxable supply. Just like when you buy a ticket to a concert, there is a GST component to the ticket because the ticket is a taxable supply. 

And yes, it is abundantly clear, my knowledge is massively superior to yours on this topic. You still obviously cannot grasp that the TAB is a government entity - and all the net revenue it ends up with, becomes a grant to the NZ racing industry. Tax free money.

 

[slam dunk]

1 hour ago, mardigras said:

and all the net revenue it ends up with, becomes a grant to the NZ racing industry. Tax free money.

 

Get off those Charlie Chaplin black and whites. Telling the long suffering owners their prize money is a government grant will really have them rollicking in the aisle.

[mardigras]

2 minutes ago, slam dunk said:

Get off those Charlie Chaplin black and whites. Telling the long suffering owners their prize money is a government grant will really have them rollicking in the aisle.

I agree many probably would be. Those that would, are those that lack the intelligence to understand the reality or simply can't believe it. Like you are demonstrating.

Where else do you think the money is coming from. Trees?

The more you write, the more you dig yourself into a hole impossible for you to escape from. Please write more, it's very entertaining.

Edited April 3, 2023 by mardigras

[Buller Rep]

On 3/27/2023 at 9:17 PM, Maximus said:

 

The devil, as always, is in the detail. I hope McNulty knows what he is doing - at least he appears to understand the complexities in all this (I don't.). Better to have him in charge than, say, that Nathan guy.

MM

A great summing up and never a truer word said than what you say about McNulty verses Nathan Guy.