CalvinAyre.com says – The Australian Northern Territory is a decent licence as it offers solid infrastructure and a reasonable tax rate. They have some limitations on where licensees take wagers from but nothing as restrictive as France or Italy.
The Northern Territory is located just over the sea from Asia and its relaxed attitude could make it attractive to some companies looking at Asia. The Northern Territory Gaming Control (Internet Gaming) Act was passed on 30 April 1998 and since then has had the power to license internet gaming businesses that can conduct a lottery, a game or the sale of tickets in a lottery or foreign lottery.
Anyone applying will be impressed by the 4% negotiated tax rate that has fallen from the 8% rate that existed originally. Couple this with the fact that there are no annual fees for anyone operating and you can see why Bet365 favored this territory when considering an application for a license in the country. One licensee has paid a $300,000 license fee in the past but nothing is mentioned about a fee for every applicant on the firm’s site.
Type of Company Entity Available for iGaming Firms:
Any company can apply for a license
Corporation Tax Rate:
NA
Additional Gaming Tax Rate:
4% negotiated tax rate
Minimum Share Capital for an iGaming Company:
No
Security Requirements/Indemnity for Players Deposits:
Money may only be accessed by firms when being withdraw for unsettled bets or added to for winning bets.
Licence Fee:
None listed but Lassetters Casino paid a fee of $300,000 in 1999.
Licence Duration:
Decided between the operator and regulator
Bandwidth Type Available:
Part of the Australian fibre optic network and has Australian standards for redundancy and local/international path diversity.
Software Testing Requirements:
Entire system must be approved before it’s used for internet gaming and any changes must be submitted before they can be used.
Reporting Requirements to the iGaming Regulators and/or Financial Regulator:
Initial and periodic audits are carried out by independently commissioned auditors.
Anti-Money Laundering Policy for iGaming Firms:
AML/CTF programs are required under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).
Restrictions on Jurisdictions from which you can take Wagers:
They can take bets from abroad as long as the country doesn’t have an agreement with Australia where this isn’t allowed to take place.
Contact Details of Government Department or Regulator:
Address: Level 1 Enterprise House, 28-30 Knuckey Street DARWIN NT 0800
Postal Address: GPO Box 1154, DARWIN NT 0801
Phone: (08) 8999 1800
Fax: (08) 8999 1888
Email: [email protected]
Website: www.nt.gov.au/justice/licenreg
