RACING TAXATION.

Hokitika Guardian, 29 May 1925, Page 3

RACING TAXATION.

TEAI BTAT’ION TO OWNERS

[llY ...I.KORM'tt —PKII PRESS ASSOCIATION'.]

CHRISTCHURCH. -May 28

At tlie annual meeting ot the ( anterburv Jockey Club, the Chairman, Mr George Gould,’ had the following to say regarding the taxation of sport:— “Before the war, with its attendant, taxation and disturbances of money values, and under the wise guidance ot the Racing Conference, an owner, given an average degree of knowledge and luck, had a fair chance of paying expenses out of stakes, leaving him tree to Let or not to bet. according to his inclinations and the optimism or pessimism of his nature. To-day, however,

the position is very different. The cost of racing, partly due to the Government's exactions, is almost double, while during the hist tour years the stakes have receded. In 1914-15, the Stakes given by this Club amounted to nearly £38.1 UK). This year they were £42.655. whereas to hear the pre-Mar relation to expenses, they should he at least £60,91)3. Racing is a fine pastime but it lias also a serious financial aspect for thn.-e engaged m it. An examination of racing statistics leads to the conclusion that only about one horse in four pays its expenses out of the stakes, and there is a gap of about £2110.000 between the gross amount of ti.e stakes won, and the cost involved in the training and racing ot about two thousand horses. I his gap. mam people seek to bridge by betting, with varying success. Hence the desirability of increasing the stakes, so that the snort may more nearly pay its way. without fortuituous aids. Many-country clubs are in difficulty, small as the, stakes are. which they can afford to rrive. When the stakes are small, there is the danger that the owners who cannot afford to look upon racing as a pleasant way of spending their money may trv to carry on by manipulating the results, and heating the public. If it "ere not for the better stakes

j given by the Afetre) olitan Clubs, the I honest sportsman could not live. And j yet the .Minister proposes to create more clubs in the haekbloeks, where there are neither horses, population racing facilities, nor means of training them- What can he done in these circumstances so as to out- the country owner on a better footing* I say. without hesitation, that the Government should surrender for the good of the sport, some portion ot the money that it takes from the racing community. The dividend tax alone, now produces double the whole revenue from the totidisiitor tax of a few- years ago. Tf the Government would remit to the (Tubs their 21 per cent on the first C2P.POO of each day’s turnover, it

would put the small cl nI vs on their feet and give a tremendous lift to honest sport. This would mean giving up about £3OO a day. or £90.000 a year—a good deal of which eouhl go direct to the stakes; hut the Government would still lie deriving some half a million in various ways from the racing pub-lie, against which the general community pays no equivalent.”