RACING CLUBS PUT LEVY ON BOOKMAKERS
8YDNEY. Dcc. 5. Racing clubs have iuiposed a oue per eeut. turnover levy on all 8yd ney bookinakers as from January 1. The levy is expected to vield about £30 7,000 annually of which about half will go to the 8tate Governnient in taxation. The share taken by the Australian Jockey Club and the Sydnev Turf Club will be put back into racing to increase the prize monev and ciTect major improveinents. Both bodies have agreed to aller their by-laws to enipower them to impose a levy of not more than two per ccut. in addition to ! the present bookmakcrs' licence fees. The tax will affect 379 liookmakers who estimatc that the decision would eost the bigger lielders about £300 eacli ]»er meeting. They allege that Ihe tax, which would have to be passed on to ihe punlers, would encouragc ollcourse and starting price betting.
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Chronicle (Levin), 6 December 1947, Page 2
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151RACING CLUBS PUT LEVY ON BOOKMAKERS Chronicle (Levin), 6 December 1947, Page 2
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