Good Tax Deal for Betfair – February 23rd, 2010

Betfair has reportedly sealed its presence in the Tasmanian territory of Australia for the next ten years in a tax break deal with the provincial government that will cost taxpayers $2 million over the next two years, but keep the betting group’s 130 job Support Centre in Hobart for the next decade.

Betfair operations in Australia are in partnership with the Packer group of Crown PBL companies owned by James Packer.

Tasmanian Premier David Bartlett says the agreement will cost taxpayers about A$2 million over the next two years and will not be formally approved until parliament returns after the March 20 state election.