Extra Tax on Winning Bets

I have a strong feeling that a day at the races could cost more than we thought. Extra taxes on winning bets are in the process..Im sure losing bets as in casinos etc will not be claimable. Watch this space..my feeling is well founded.

Good evening Oscar probably wont have any bearing on the punters here

Governments love to get their hands on everything

hibernia Wrote:

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> Governments love to get their hands on everything

Yes 25% increase in electricity announced today, just means more bucks for the ruling party!!!

If it was done properly it could benefit racing,rob from the poor and give it to the poorer,create a levvy like in the UK, do away with relying on the tote for stakes..

hibernia Wrote:

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> If it was done properly it could benefit
> racing,rob from the poor and give it to the
> poorer,create a levvy like in the UK, do away with
> relying on the tote for stakes..


Give it to the poor....more likely give it to the greedy thieving untrustworthy scum bags we call politicians in the uk

Greg it is a balancing act of note - the sad reality is that the aluminium smelters and mining houses use 66% of the countries supply. BHP Billitons operations in Richards Bay and Maputo uses 5% of the countries supply and receive discounted rates in the region of 11 to 22 cents per KWH whilst Joe Public takes a tarrif increase of 60 cents per KWH. The energy minister is reported to be unsure of what these rates are. Apparently tarrif increases do not apply to this lot.

It seems SA is still one of the cheapest places for power in the world - for big industry concerns!!!

The balancing act I refer to is employment vs consumer power tarrif increases. We all know the first thing to go is jobs in tough times due to increased costs, so who do they protect. Not you and I or the poor that voted them in, they protect the capilist multinationals that their cadres decry!

The solution:

1. Invest in research of renewable energy sources. The next super economy will emerge from the discovery of an unlimited renewable energy source.
2. Let these power hungry companies be part of this research.
3. Let them invest in full or in part in a power station of their own.

I wonder how much of our tarrif increase will go towards researching renewable energy. Nil - in the next 100 years we will be faced with another arms deal debacle as we sit with very expensive power stations that the world will eventually out law as the new renewable energy sources, power the economies of the new world!

Taxing betting winnings is a dangerous precedent although most governments seem to need to be re-taught disastrous rulings every few decades or so.

1.) The only way in which they could successfully collect these additional taxes is to deduct them at source - ie as they do with the 6% which they presently collect from the tote. This will re-ignite the backlash that occurred when the deduction was 12% - 'official' bets just shrank and every bookmaker became a bucketshop. Expect to revisit that reality.

2.) If they are going to tax winnings then the issue of deducting losses comes into the picture. In which case the state can look forward to revenue OUTFLOWS as the best kept secret in racing is that the vast majority of punters LOSE.

3.) The 'betting shop' customers make up the majority of the pools. Many ( if not most ) of these people are either SITE taxpayers ( in which case they don't exist in the individual sense of being taxpayers ) or they are simply not even registered as taxpayers. So where and how are they going to be declaring betting winnings?

4.)SARS will find this venture is as productive as Estate Duty - a huge amount of administration for negligible income.

5.) Assuming SARS actually believe gambling 'pays' what does it imagine punters do with this money? One of two things, you cretinous schmucks! : They gamble again until they lose it - in which case you collect revenue from the profits of the gambling industry or they spend it - in which case a whole multitude of levies, excise duties, import duties, ad valorem taxes and VAT kick in.

The harsh reality of our tax system is this :

We have only 3,7 million registered taxpayers out of an assumed population of 50 million. It is speculated that every individual taxpayer has 3 non productive
ADULT dependents hanging on their coat tails.Who in turn usually have offspring.

If you had arrived from Mars this morning with an arbitrary understanding as to how our systems are supposed to work you would be amazed to read or hear almost NIL debate about taking any meaningful steps to put the brake on reproduction - which is at the very core of our problem. Instead much of our political leadership ( no racism intended as I am speaking GLOBALLY ) clings to quaint 'cultural' or 'religious' ( read 'tooth fairy concepts' ) beliefs about how commendable it is to produce more children than we or the earth can possibly sustain.

Without being pessimistic - I think we probably passed the 'tipping' phase some time ago and it will be nigh impossible to pull back from the brink of self destruction given the momentum that is building up.

Fact - 10% of the total number of humans estimated ever to have inhabitated this planet are PRESENTLY ALIVE. Not good news for Mother Earth.

Personally, I find the amount of money spent on gambling morally irreprehensible in the society we live in, as is the spending on alcohol and cigarettes. The drive to increase tax on smoking, drinking and gambling is fully understandable. The Puritans had the right culture and the banning of Christmas was a good move. The tooth fairy and the Easter bunny are also fair targets for censorship. This should be compared to the entirely morally defensible option of having 5 wives, several girlfriends and various children dotted around.

Bring back John Knox.

I was hoping(but not necessarily optimistic) that the budget comment, regarding gambling tax, could benefit racing!!!!!?????
Could it be that govt. has picked up that horseracing is the only form of gambling that contributes to the coffers?If the intention is to start taxing sports betting again and to introduce tax on casino gambling it should level the playing field.
Will be interested to see what the considerations are!

Gajima Wrote:

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> Personally, I find the amount of money spent on
> gambling morally irreprehensible in the society we
> live in, as is the spending on alcohol and
> cigarettes. The drive to increase tax on smoking,
> drinking and gambling is fully understandable. The
> Puritans had the right culture and the banning of
> Christmas was a good move. The tooth fairy and the
> Easter bunny are also fair targets for censorship.
> This should be compared to the entirely morally
> defensible option of having 5 wives, several
> girlfriends and various children dotted around.
>
> Bring back John Knox.


Hello Mark