Tuesday, February 23, 2010

Betfair tax breaks - 22nd February 2010

The Tasmanian Government has offered tax breaks to keep the gambling agency Betfair in the state.

Labor has revealed that before it went into caretaker mode, it made an agreement with the company half-owned by James Packer.

The deal would see Betfair keep its call centre and 130 jobs in Hobart for the next 10 years.

The Premier, David Bartlett says the agreement will cost taxpayers about $2 million over the next two years, but he says the deal will save jobs, and quickly pay for itself.

"In the short-term, yes there will be a revenue decrease," he says.

"But that revenue decrease will be more than offset by 130 jobs on site, and increased transaction rates, over the life of the next five to 10 years."

The agreement will not be formally approved until parliament returns after the March 20 state election.

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