A recent study commissioned by Greyhounds Australasia (GA) reveals that the Australian greyhound racing industry is a major economic contributor, generating a total of $731.4 million in taxation for federal, state, and local governments in FY23.
This impressive figure includes both direct and first-round taxes generated by the industry's activities across the country.
The report, completed by IER and supported by Responsible Wagering Australia (RWA), demonstrates that after accounting for government funding received by the industry, the net tax contribution stands at a significant $645.8 million, across all levels of Government.
The analysis further breaks down these contributions by jurisdiction, highlighting the industry's widespread financial impact.
"The study demonstrates the substantial financial benefit the greyhound racing industry provides to communities and governments across Australia," said Simon Stout, CEO of Greyhounds Australasia.
"The tax revenue generated supports a wide range of public services and infrastructure, underscoring the industry's vital role in the national economy."
Key jurisdictional highlights from the report include:
New South Wales: The state was the leading contributor, with a total tax generation of $234.7 million and a net tax contribution of $221.3 million.
Victoria: The industry in Victoria generated $216.3 million in total tax, with a net tax contribution of $198.3 million.
Queensland: Queensland contributed $136.4 million in total tax, with a net tax contribution of $97.9 million.
Western Australia: The Western Australian industry generated $62.8 million in total tax, resulting in a net tax contribution of $53.2 million.
South Australia: With a total tax generation of $44.5 million, South Australia's net tax contribution was $43.8 million.
Tasmania: Tasmania's greyhound racing industry generated $15.8 million in total tax, with a net tax contribution of $10.4 million.
Northern Territory: The Northern Territory contributed $14.6 million in total tax, with a net tax contribution of $14.6 million.
Australian Capital Territory: The Australian Capital Territory generated $6.2 million in total tax, resulting in a net tax contribution of $6.2 million.
The report's findings are based on an assessment of taxation impacts in 2022-23 and include taxes from various sources such as wagering, corporate and personal income taxes, and net GST. The full report provides a detailed overview of the economic and taxation impacts of the greyhound racing industry in Australia.
Industry at a Glance
The report also provides a snapshot of the industry's size and scope, revealing its broad economic reach:
The greyhound racing industry has a value-added contribution to the Australian economy of approximately $2.45 billion.
It supports 14,694 full-time equivalent (FTE) jobs across the country.
There are 56 greyhound racing clubs nationwide, which hosted over 4,200 race meetings and more than 47,500 races in 2022-23.
This inaugural report provides a comprehensive look at the greyhound racing industry's role as a significant economic contributor to the Australian economy and government revenues.
