Friday, September 11, 2009

Tax doubts hamper bidders for Tote Tasmania - 8th September 2009

Uncertainty regarding a tax exemption for Tote Tasmania on betting pool arrangements in mainland states has left bidders such as Tabcorp unable to value the company accurately. The Tasmanian government was hoping to have the sale finalised by early this month, but the process has hit a roadblock as betting pool tax exemptions remain unresolved. The Victorian government, led by Victorian Racing Minister Rob Hulls, has granted an extension until January 31 for the matter to be determined.

References: Australian Financial Review, Fairfax Media, Wires, Tabcorp, Tasmanian Government, Victorian Racing

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