Aussie Turnover Charges in NSW

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Dipstick
Posts: 116
Joined: Tue Feb 17, 2015 10:08 pm

Have just been trying automation on aussie horses (and dogs). I have just been hit with a user/turnover charge by Betfair of £120 because of some turnover tax on horse races in NSW. Anyone know about this and/or being hit with the same thing? Seems like a reason to stop doing it if you ask me - my profits aren't at that level yet and if it's a turnover tax then it never will be

D
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Dallas
Posts: 22673
Joined: Sun Aug 09, 2015 10:57 pm
Location: Working From Home

bit of dissussion here and on the following pages
viewtopic.php?f=5&t=7512&start=1119
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

https://www.betfair.com.au/hub/getting- ... er-charge/

How will I be notified if I am required to pay?

Customers will be contacted directly by a Betfair representative and informed on the first occasion on which this turnover charge would have been payable.

Customers will also be afforded a one-week ‘grace period’ designed to give them an opportunity to refine their betting habits should they wish to do so.

A summary report of an individual’s weekly activity will also be available if requested.


If you didn't get informed so you could change your betting habits I'd contact them and ask for it to be refunded. They're usually quite good with these things as they'll have a record if they sent you the warning email.
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Derek27
Posts: 23474
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

Thanks SB, didn't notice this thread.

Frustrating thing, the guy kept saying "I understand, I understand"; but he didn't have a clue. He kept putting me on hold and then tried to fog me off with the suggestion that it was market based rate commission !!!

I had to explain to him that commission, even in Australia, is not 500% of profits. He did at least confirm that an email wasn't sent so hopefully they'll refund the money.
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Hank Thrilliams
Posts: 5
Joined: Wed Dec 27, 2017 8:36 am

Its deplorable. I've had to stop trading there, which is a big loss but I'm not paying fees on a race I may not even win in.
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