Coronavirus Qld: State‘s $300m Budget black hole
Queensland’s coffers have suffered a mammoth hit of almost $300 million because of a serious decline in gaming tax revenue amid the COVID-19 pandemic.
QLD Politics
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QUEENSLAND’S coffers have suffered a mammoth hit of almost $300 million because of a serious decline in gaming tax revenue amid the COVID-19 pandemic.
Between January and June this year, the state raked in $337,051,128 through gaming machine, casino, lotteries and keno taxes and the health services levy.
But this is a little over half the more than $615 million recorded during the same period last year.
An Office of Liquor and Gaming Regulation spokesman said gaming revenue in Queensland had decreased due to the closure of clubs, hotels and casinos from March 23 amid coronavirus restrictions.
The State Government deferred gaming machine taxes for three months back in April, amid opposition for it to be waived instead.
But the dramatic reduction in revenue this year has been calculated as though the tax had been paid.
Shadow attorney-general David Janetzki said the Government was more interested in charging gaming tax, which the LNP called for to be waived instead of a three-month deferral, than giving real tax relief to businesses.
“Workers, community sporting clubs and local suppliers will continue to suffer for as long as clubs and pubs do not get back on their feet,“ he said.
But Attorney-General and Justice Minister Yvette D’Ath said the LNP’s claim that the government was interested in charging gaming tax when the restrictions that are in place deny the government any gaming revenue shows how “flawed” their thinking was.
“The only reason for imposing restrictions on licensed venues and forgoing gaming revenue has been to keep the community safe,” she said.
“The government will continue acting on the advice of the Chief Health Officer as we work with licensed venues towards a further easing of restrictions.”
The Government cancelled its April Budget amid the pandemic and will instead deliver a COVID-19 Fiscal and Economic Review in September.
In March, it was reported the Queensland economy would bleed $10 billion over the next two years because of the devastating impacts.
Treasurer Cameron Dick has previously said he was expecting a significant hit to the economy because of the pandemic.
It is still not known what Queensland’s revised debt level is.