TOTALISATOR TAXATION

Hawke's Bay Herald-Tribune, Volume 81, Issue 75, 21 December 1937, Page 4

TOTALISATOR TAXATION

Atnnng tlie taxes iu wMck tlie State Government of New South Wales has seen its way to make substantial reductions is that on the totalisator takings of the racing clubs. For some years now the New South Wales clubs have beeu%uthorised to deduct a flat rate of 12 J per cent. from the aggregate investments received on each event. This was distributed as follows: — Metropolitan clubs, excludiug trotting meetings; Government 9 per cent., club 3J per cent.; trotting clubs in the metropolitan area. club 7 per cent., Government 5£ per cent.; country clubs, club 7 per cent., Government 5J per cent. Under the new Bill now before the State Parliament the gross deduction is to be reduced to 10 per cent., to be distributed as follows: Metropolitan clubs, excluding trotting clubs, Government 5 per cent., club 5 per cent.; provincial and country racecourses, Government 2 per cent., club 8 per cent.; trotting clubs, .Government 2 per cent. club 8 per cent. These figures certainly emphasize the harshness with which racing and trotting clubs aud their piatrons are dealfc with in New Zealand. Here the olubs make a first deduction of 12 J per cent. on the total takings and of this the club retains 8J per cent. and the Government takes 4per cent. as totalisator duty. But, then the Government exacts on the 87J per ceiu. left a dividend tax of 5 per cent. Thus, as against 10 per cent., or 2/- in the £, in New South Wales, the New Zealand investiug public see nothing more of about 17 per cent., or neiarly 3/6 in the £, of the money they risk. On top of this comes a stakes tax of one per cent. of ' which owners of placed horses are mulcted. It has been announeed that when Parliament resumes its sitting next March there is to be some revision of our taxation laws. There is surely room for some substantial concession to be made in racing taxaton. %