The NSW and Victorian governments main source of revenue over the last few years has been stamp duty from property transactions. Stamp duty revenue has boomed during this time. But it is falling now in NSW with Victoria likely to soon follow. These state governments will need new revenue streams to fill their coffers and this POC tax is perfect timing for them. I cannot see them giving much back to Racing NSW or Racing Victoria so that 100K benchmark races can become 150K benchmark races. Instead all or most of the money will go into consolidated revenue
That is true of the states where there has been a boom in property prices. But that should also apply to Queensland as well but somehow their recent governments have put the state into a spiral of debt.
Racing Victoria have always had good advocacy when it comes to governments deciding how to allocate funds for the industry. NSW has improved significantly over the past few years with the emergence of Peter V'Landy's as the industry's chief advocate (for all the negative stuff written about the guy - invariably from interstate writers - he has been the best racing administrator the country has ever seen and NSW racing is the beneficiary).
I would be surprised if NSW and Victorian racing did not see a lot of the POC tax. Other states? Not so sure. Cannot imagine SA putting much back into their racing industry. They are already receiving generous subsidies from Victoria because the RVL owned racing.com were so desperate to have SA racing included in their content.
And here we are getting on the the glaring problem with the Australian racing model - a problem that is rarely discussed because it is obscured by NSW vs. Victoria "my dick is bigger than your dick" competitions.
The new model of wagering that includes corporate bookmakers seems to be benefiting the two largest states at the expense of the other states
Given that a POC tax will benefit the racing industries of states where the population is largest, and the two largest states have good advocacy within government, this tax will only add to the imbalance that is emerging.
Is there an easy answer? Probably not.