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New Model For Qld "Race Information Fees"
Racing Queensland announced that, from July 1, it will be implementing "a new model for the calculation of Race Information Fees following the NSW High Court decision". RQ noted that, earlier in the year it held "meetings with industry stakeholders, including representatives from bookmakers & clubs, to discuss the issues relating to Race Information Fees" & taking into account "feedback that was received from the industry" as well as "to provide additional flexibility to licensed wagering operators", the fee structure for the 2012-13 financial year "incorporates an alternative fee model which an authorised operator may elect to adopt". Key elements of Queensland's new Race Information Fees are:
- The default fee model is the Net Assessable Turnover model. The core elements of this fee model are: (a) The Race Information Fee payable by licensed wagering operators for the first $5 million of annual wagering turnover, will be 1% of turnover; & (b) The Race Information Fee payable by licensed wagering operators for annual wagering turnover greater than $5 million will be: (i) 1.5% of turnover for the months of July-April (inclusive); & (ii) 2% of turnover for the months of May & June (inclusive) for the amounts greater than $5 million.
- Subject to compliance with certain conditions, an authorised operator may elect to adopt the Gross Revenue model. The Race Information Fee payable under the Gross Revenue model will be 20% of gross revenue. It is a requirement of the Gross Revenue model that the fee payable by the licensed wagering operator must be greater than the Race Information Fees paid (or that would have been paid) by the relevant authorised operator in the previous financial year under the Net Assessable Turnover model.