SGR 1.94% 52.5¢ the star entertainment group limited

Ann: Trading Update, Cost Initiatives & Sydney Strategic Review, page-571

  1. PMW
    220 Posts.
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    Yep that is as I understand it.

    These lines are telling.

    "Since then, the government has been having discussions with the casinos about implementing these new tax arrangements. To permit these conversations to continue, the government plans to pursue the legislation following the forthcoming Parliamentary winter recess."

    The previous government had no discussions with SGR about how to implement the new tax arrangements or how much the tax would be. AFAIK They didn't even give SGR advance warning before making it public.

    Winter recess ended last week. The fact that the Labor government postponed implementation of the tax and has still not provided a date or mentioned the legislation suggests it will be renegotiated. That doesn't mean it is going away - it will undoubtably go through in some form - but the amount of tax could be revised or some other changes made.
 
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