Tabcorp to receive $14.3 million from GST refund
24 Jul 2012 | Tabcorp on Tuesday announced that the Australian Taxation Office has allowed a claim for refunds of Goods & Services Tax (GST) paid by Tabcorp’s Victorian and NSW wagering businesses. As a result, Tabcorp will record a benefit of $14.3 million after tax in its accounts for the half year ending 31 December 2012.
The refunds relate to GST paid between May 2006 and March 2010 on wagering turnover derived from overseas based customers. The GST law allowing such claims was amended and, as such, no claims are possible for subsequent periods.