Australia
Tabcorp: Tax Treatment Resolved for Various Licences

Tabcorp Holdings Limited announced that it has resolved a dispute with the Australian Taxation Office (ATO) in relation to the income tax treatment of payments for various licences and authorities. Tabcorp had paid to the Commissioner in full the disputed amount of tax liabilities and interest.
As part of the settlement, the ATO will refund Tabcorp approximately $83 million which represents 0% of the disputed tax liabilities and interest. Each proceeding brought by the taxpayers will be dismissed. Tabcorp, in turn, is required to pay approximately $37 million to The Lottery Corporation Limited (TLC) under the terms of the Separation Deed dated 25 March 2022 between Tabcorp and TLC.
As a result, Tabcorp will recognise a benefit of approximately $45 million after tax in its financial statements for the year ending 30 June 2024. This benefit will be treated as a significant item.
The settlement also included an agreement in relation to how Tabcorp will treat future licence fees payable in respect of renewals of relevant existing licences. Subject to agreed limitations, Tabcorp must treat the fees as being of a capital nature. Tabcorp does not believe this will have any material effect on future results.
-
Asia6 days ago
PAGCOR CHAIRMAN, ENTIRE BOARD TENDER COURTESY RESIGNATION
-
Africa7 days ago
World Sports Betting Partners with Comrades Marathon Association
-
Asia7 days ago
Parimatch renews commitment to Southeast Asia at SiGMA Manilla
-
Asia6 days ago
BETBY TO TAKE CENTER STAGE AT SiGMA ASIA MANILA WITH PARTICIPATION ON PANEL ABOUT EMERGING TECH IN SPORTS BETTING
-
Latest News7 days ago
BonusFinder UK Survey: Public Trust in Online Gambling & Bonus Offers in 2025
-
Australia7 days ago
Crown Perth Announces Two Leadership Appointments
-
Latest News7 days ago
Amelco debuts newly upgraded horse racing product
-
Latest News7 days ago
Octoplay secures a partnership with Danske Spil in Denmark, Expanding Nordic Market Presence