Australian operator Tabcorp has rejected claims by Racing Queensland that its UBET subsidiary was not entitled to withhold AU$11m (£6.2m/€6.9m/US$7.7m) following the introduction of the state's point of consumption tax.
Will the UBET wagering app continue to work in Queensland? Aside from the change in name to the TAB (QLD / SA / NT / TAS) app, the app will continue to work in current states and territories. In fact, you’ll see a few extra inclusions like Race and Sports Previews, and Race Replays in there! TAB is Australia’s premier betting app, available to download on your mobile. If you love sports, horse racing, greys, gallops or just having a bet, we’ve got you covered with enhanced Sky Racing vision and markets available on every race and sports event across the board.
A filing with the Supreme Court of Queensland states that Racing Queensland is seeking compensation for alleged underpayment of taxes by the operator.
The initial claim was filed in June, but details have only just emerged as to why the horseracing organisation has opted to pursue legal action.
Racing Queensland said UBET is required to pay the tax under two contractual arrangements; firstly the Queensland Product and Program Deed (QPP) between UBET and Racing Queensland, which sets out the long-term commercial relationship between the parties, including fees payable by UBET.
The organisation also cites the Deed of Understanding (DOU) between Tabcorp and Racing Queensland, which includes minimum financial commitments UBET was to make to Racing Queensland, and sets out annual top up payments for the calendar years 2018 to 2020 should UBET not meet these commitments.
However, Tabcorp has rejected Racing Queensland's claims, saying it “intends to defend its position vigorously” and is in the process of preparing its formal defence to the claim.
With regards to the QPP, Tabcorp believes UBET is entitled to reduce or offset the fees paid to Racing Queensland by the amount of the increase in wagering tax paid as a result of the 15% net betting revenue tax inroduced from 1 October, 2018.
Racing Queensland, however, believes that while UBET is entitled to reduce or offset its contribution, it can only do so by a smaller amount.
“The difference in view relates, in part, to how the ‘increase’ in tax is calculated,” Tabcorp explained. “Rather than referring to the actual increase in wagering tax paid by UBET, Racing Queensland’s position appears, based on the claim, to be that it is only the increase attributable to the change in specified percentages that is relevant, being from 14% to 15% for totalisator wagering and 10% to 15% for fixed odds wagering.
“Racing Queensland’s position does not appear to reflect other differences between the wagering tax regimes, including that the [previous tax regime] had a deduction for [goods and services tax] that is not contained in the point of consumption tax.”
Tabcorp views Racing Queensland’s stance as being that UBET should receive no reduction or offset to reflect the increase in tax on sports wagering revenue. Once the increase in tax is calculated, UBET is only permitted to reduce or offset fees paid to Racing Queensland by a sum equal to 39% of the increase.
“Accordingly, Racing Queensland alleges that, under its reading of the QPP, UBET has underpaid it by an amount of approximately $11m (inclusive of GST) for the period October to December 2018,” Tabcorp said.
“The potential impact of the alleged underpayment is then extended across the term of the QPP until 2044, although the precise impact is variable and dependent on several factors, including future trading performance,” it explained. “As UBET believes that it is entitled to be 'made whole' in respect of the impact of the [point of consumption tax] for the duration of the QPP, it does not consider that there has been an underpayment.”
In regards to the DOU, Tabcorp said that based on the claim, Racing Queensland appears to believe that the payment calculations shoudl not factor in any reductions or mitigation measures to factor in the impact of the point of consumption tax.
Tabcorp said that if this is indeed the case, UBET would be required to pay the full, increased wagering tax increase for the period, irrespective of the outcome on the QPP. As such, the operator concludes that the DOU does not require any such repayment.
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Australian-based online bookmaker, UBET, launched in 2015 and has quickly become one of the leading sports betting sites in the country. Our in-depth UBET review examines all aspects of the sportsbook, including a range of sports, odds and much more. Let’s get started.
How to register at UBET
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Signing up at UBET is a simple process that should only take a few moments of your time. Use the step-by-step guide below to ensure you don’t run into any issues:
- Visit the Ubet Australia website and click on the ‘Sign Up’ button found at the top of the homepage.
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Payment Options
You can deposit funds into your UBET account in cash ($10 or more) at Retail Outlets in Queensland, South Australia, Tasmania and Northern Territory. You can also use BPAY, bank transfer or debit accounts.
Our UBET review wouldn’t be complete without a look at the payment options. At the moment, only a few secure and hassle-free payment options are available at UBET to fund your account. Payment options include:
- Debit Cards
- UBET Retail Outlets
- BPAY
- Bank Transfers
Direct deposits into your UBET account are available in-person at UBET retail outlets in Queensland, South Australia, Tasmania and the Northern Territory. A minimum deposit of AUD 10 is required for all deposit methods.
Debit cards and UBET retail outlets both provide instant funding whereas BPAY and bank transfers may have a processing time. Maximum deposit and withdrawal amount vary based on the payment method used.
Customer Service
Customer support can be contacted via telephone, email and mail. Telephone support is free and is available 24/7. Response times for calls are generally under a minute. Email responses can take a little longer based on the number of inquiries at the time.
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Telephone: 131 802
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Post: Account Sales Administration, Tabcorp, GPO Box 4168, Sydney NSW 2001
Alternatively, a detailed FAQ section is available with answers to a number of commonly asked questions in the ‘Help Centre.’
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UBET Review Verdict
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Our UBET review concludes that bookmakers are one of the best online bookies available in Australia. The site hosts a wide range of sports and leagues to pick from, along with odds competitive with other major bookmakers. The UBET mobile app is ideal for punters looking to watch horse races and bet on the go.
Where the site could stand to improve is by introducing a few more payment methods for easier deposits/withdrawals. Live chat customer support could also be added for faster and more convenient assistance.
For more information on sports betting, check outour must-read informationhere.