Higher community returns

Higher community returns

Minister of Internal affairs Peter Dunne has confirmed new regulations will come into effect on 4 September 2014 that raise the minimum percentage of net proceeds gaming societies must return to the community.

This will be a staggered increase.  In the first financial year after the new regulations come into force societies will be required to distribute 40% of net proceeds to authorised purposes (up from the current 37.12% minimum).  By the end of the third financial year, the minimum percentage will be 41% and by the end of the fifth financial year, the minimum will be 42%.  

You can read the Minister's media release here.

[Photo credit: Stacey Squires]