SPORTING.

Shannon News, 28 March 1924, Page 3

SPORTING.

Racing clubs and racing patrons arc becoming interested in regard to the lacing taxation of the future. The rate of stakes duty will be' reduced Horn 10 per cent, to 5 per cent, of uio aggregate amount of stakes won at a race - meeting, commencing from the end of the present month. The Prime Minister stated at Wellington, in reply to a question that he v, as still mindful of the generous attitude of leading racehorse owenrs in Dominion when the finances of the country were giving him grave concern during the period of the “slump." ntil then the rate of stakes duty was 1 per cent and he told them that he was orced to consider raising it appreciably. “Make it 10 per cent.." they said, “if it will help the finances along.' The duty was increased to 10 per cent., said Mr. Massey, but in the Act of last session, provision was niatie for the reduction of the duty. Hie new rate would come into force as from March 81st. “Is there any prospect of a further reduction, in view of your statement that an endeavour would be made to grant further remissipn in taxation?" Mr. Massey was asked. m There will be a’ bill next session dealing with it," answered the - rime Minister. “In the meantime the matter will be considered by: the Government."