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-------Original Message-------
Date: Friday, 28 March 2003 12:16:09
Subject: Re: [sharechat] Sky City - Gaming Tax Increase Next?
Yes, it is important to supply the right information.
There is confusion on taxes on the other channel and I am starting to have a look at it.
I notice that $32.202 mill. "gaming taxes" have been paid last year: Annual Report, page 35. I would say that would be about 15%.
In addition, the overall tax rate in Australia is 30% while here it is 33%-page 43.
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There is an industry levy of $14 mill.. Most of this money was to be spent on education of drinkers but the Govt put in in the Consolidated fund instead:
SKC(4), page 6, date 6 March:
"It's all just gone into the general fund," said casino chief executive Arthur Pitcher, who estimated the country's casinos had contributed $84 million in total.
A spokeswoman for Internal Affairs Minister George Hawkins confirmed that the duties went into the Consolidated Fund and were not earmarked for problem gambling programmes ---------------------------------------
So much for the Government's hypocrisy.
Summarizing the position, some $85 mill were spent on all taxes( SKC happened to earn $85 mill); $48 mill. was spent on Income tax and that would leave some $37 mill. spent on gaming tax and levies, I would say. (Ref.: Annual Report, backpocket)
Who said that SKC is not paying tax?
I am looking for some more details.
Much time has been spent discussing any gaming legislation re Casinos, however the number of gaming machines of NZ's casinos is only a small portion of all machines in NZ.
It is here where the Govt will spent some time: Is is losing too much revenue when clubs and every man and his dog operate and own these machines?
I belief that the Govt will take action in the latter catagory and that any increase in tax is particularly relevant here.
Gerry
Spent $300 at Riverside  last monday. doing my bit to improve profit  OK honeymoon period is over at Riverside...it was quiet ..not empty...."normal" ...There would have been 100 people..+ -.....11.00pm-2.30am
I expect to get a commission from this post 
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