Sunline ScholarshipScholarshipNew Zealand BloodstockBreeders' BulletinCambridge StudCovid-19Haunui FarmBelardoRich HillWaikato StudCheveley Park StudIrish National StudBreeders BulletinCoolmoreGavelhouse PlusPearl SeriesBrighthill FarmBruce SladeRITATaylor MadeBruce's BlogBulletinMatt's BlogMatthew ScownTrelawney StudWeanling SaleWindsor Park StudAlmanzorJamie RichardsLittle Avondale StudMapperley StudMatt ScownNational Breeding AwardsOcean ParkRobert DennisThe Oaks StudBevan SmithDavid Morris BlogFirst Crop Sire FocusHighden ParkIffraajNovara ParkNZTRSavabeelWentwood Grange2020 New SiresBevan's BlogEminentHolly RossHolly's BlogJamie's BlogKiwi BredLance Forbes BlogRaise The FlagRobert's BlogTavistockWellfield LodgeWestbury StudWhite Robe LodgeBenji KingBenji's BlogCameron Ring BlogDanielle Southey BlogGavelhouseHannah AireyHannah MeeMelody BelleNZB Pearl SeriesPer IncantoSatono AladdinSweynesseValachi DownsCharm SpiritDylan TreweekDylan's BlogEmbellishGrangewilliam StudHannah's BlogHello YoumzainInglewood StudKeith and Faith Taylor Equine ScholarshipKoldingLaura McNabNZB South Island SaleReliable ManSam BergersonSouth Island SaleTime TestVadamosVespaWyndspelleAce HighAide MemoireBagalolliesCameron RingChris LuoniCoronavirusCurraghmoreDalgharDarci BrahmaDavid ArcherEtah JamesJon SnowMarie LeicesterMilan ParkNewmarketOcean EmperorPrefermentRichard WrightRoad to RockShamexpressShockingShowcasingSir Patrick HoganStaphanosSuper SethTurn Me LooseWaikato Stallion WeekendWelfareWroteYearling SalesAlamosaAtlanteAuckland Breeder AwardsBeauty GenerationBLOODSTOCK TAXATIONBreeding AwardsCatalystCEO BlogChief Executive's BlogContributerCoolmore IrelandDean McKenzieDennis BrothersFalkirkFrankelGerry HarveyGingernutsGordon CunninghamHall of FameHealthy RiversHighviewIgraineJennifer EcclesJoan EganJomara BloodstockKaraka MillionLance ForbesLisa LattaLloyd MonehanMare ReturnsMark ChittyMark LuptonMembershipNearco StudNick KingNZB InsuranceNZTBA Waikato BranchPattern CommitteePear Tree FarmPinsPolly GreyRacing Industry BillRangitikei Gold CupReady To Run SaleRibchesterRoaring LionRock 'n' PopRyan StaceySacred FallsSneaking To WinStallion paradeStallion parade 2019TarzinoTe AkauTe Aroha Breeders DayTen SovereignsTheileria equiTivaciToffee TongueTony PikeVanbrughVerry ElleegantWar DecreeWarren PeggWeigh InWinston PetersYearn2015/16 Handicaps2017 Waikato Stallion Parade2020 Service fees30 Day Foal NotificationAblazeACC ForumACC LEVIESAdvantageAerovelocityAl Basti EquiworldAlan GrovesAlan WindleAllan SharrockAllureAlphastarAndrew SeabrookAndrew StewartAnne-Marie KingAnother DollarArthur AvisAternatinAuckland Stallion ParadeAuckland Stallion Parade 2017AzamourBaggy GreenBansha House StablesBarbara PerryBelle familyBernard SaundryBessBeyond the BarriersBohemian BluesBonnevalBonniegirlBostonianBoticaBradbury ParkBRANCH CAPITATIONBred To WinBreeder of The YearBreeder Of The Year 2016Breeder ProfileBreeders Bulletin Winter 2016Breeders' Bulletin Summer 2016/17Breeders' StakesBrent and Cherry TaylorBrian CollinsBroodmare Of The Year 2016Broodmare of the year 2020Bruce HarveyBruce PerryBryerley ParkBuckinghamBurgundyCallsign MavCancer SocietyCareers DayCarol MarshallCathay PacificCatWalkCelia CrawshawCharles RobertsCharmontCherry TaylorCheveley ParkChiantiChocanteChris GraceChristopher GraceClearview ParkClyde BuckinghamColdplayComplacentCoolmore AmericaCouleeCountofmontecristoCovCylinder BeachDan MyersDanny RolstonDavid EllisDavid GreeneDavid MillerDavid MorrisDavid WalshDawn PatrolDe GruchyDeloitte ReportDerrynDezDijon BleuDivine ProphetDolcettoDon GoodwinDormello StudDr Frances PeatDunstan FeedsDunstan Feeds Stayers ChampionshipDunstan Feeds Under The RadarDunstan Horse FeedsDylan JohnsonEducationElusive BoxersEmblemEmma EvansEnglandEnvironmentEpisode OneEquibreed Seminar 28th AugustEquifibreEquine Property OwnersEvent StarsExplosive BreedingExportsFabulousFanaticFarriersFasig-TiptonFastrack Breeder ProfileFasttrackFasttrack Breeders ProfileFerlaxFerrandoFiona BassettFirst Season Sire ReviewFive to MidnightFlemmington FarmFlying MontyFlyingflynnFoal NZFoalsFormidableFoster FoalFoxbridgeFrank ConwayFree Handicaps 2016-17Full of BeautyG1 DinnerGalloping GerteGary WallaceGermanicusGift Of PowerGilltown StudGina ShickGoffsGore GuineasGraham de GruchyGreg TomlinsonGus WigleyGuy LowryGypsy FairHappy StarHard MerchandizeHe's Our RokkiiHe's RemarkableHEALTH & SAFETY ACTHeniHigh ChaparralHighview StudHiyaamHoney RiderHorse ambulanceHoward Be Thy NameHumidorI Am A StarIain RentonImmigrationImposing LassImposinglyInfantryInside AgentIrelandIts Time For MagicJakkalberryJanine DunlopJeanette BroomeJen CampinJericho CupJezabeelJimmy ChouxJohn BergerJohn FokerdJohn Messara Report Release Date 30 August 2018John ThompsonJohn WoodJulian CorbanJustamaizKaraka 2021KawiKay HoodKaye SandersKeanoKeenelandKevin GrayKevin HickmanKevin PrattKhalesKick BackKinaneKoru ThoroughbredsKyla RobbKyla Robb BlogKylie FawcettKylin 500 ClubLa DiosaLa RomaneeLasarlaLegless VeuveLet Her RipLib PetagnaLibby BleakleyLifesaverLightning StakesLincoln BlueLincoln FarmsLion's RoarLiz AllenLloch-Haven ThoroughbredsLondon ExpressLong Acres StudLorna MooreLuigi MuolloMajor TomMakfiMakfi StakesMangaroa Flo JoMansfield FarmMarch 2016Mark CorcoranMark TreweekMaster PaintonMay SaleMcQuadeMeeska MooskaMeleka BelleMembersMiami boundMichael MoranMichael O'KeefeMichael SheridanMichelle SabaMick PrestonMiss Three StarsMiss VistaMiss WilsonMongolian khanMonovaleMontoyas SecretMonty RobertsMPINahkleNew zealand racing hall of fameNight's WatchNitrogenNot An OptionNurse KitchenNZ Bred G1 WinnersNZ Breeder of the YearNZ First season sires 2018NZ HOTYNZ Racing AwardsNZ Racing Hall of FameNZ Racing StructureNZB AirfreightNZB Yearling SalesNZERFNZRBNZTBA Breeders Bulletin Autumn 2018NZTBA OfficeNZTBA RestructureNZTBA Te Aroha Breeders DayNZTROF March 2017OceanexOctapussyOctasongOn The RocksOne One TwoOnly WordsOur AbbadeanOWNERS FEDERATIONPaisley ParkPark Hill StablesPaul GollanPaul MoroneyPaul YesbergPencarrowPencarrow StudPentirePerfect FitPerfectly ReadyPeter and Heather CrofskeyPeter and Sue WestendPeter NewsomPeter WalkerPhilamorPhilip SmythPhill CataldoPiaggioPlatinum InvadorPlusvitalPour MoiPRIMARY ITOPrince Of BrooklynPrincess JenniProisirProisir FoalsProm QueenPucciniPure ChampionPurple SectorQuiz NightRace Fields LegislationRaceFormRacing hall of fameRacing MinisterRacing Reform BillRageeseRaise You TenRavelston StudRaven DarkholmeRed GiantRedwoodRemindRichard CollettRick WilliamsRide To TimeRip Van WinkleRiva CapriRoad ShowsRobin ArcherRobt DaweRock OnRodger VarianRodmor Trust Lecture SeriesRomancerRon LaddSacred DaySacred ElixirSaracinoSaratogaSavigneSavile RowScorpzScott BaseSeabrookSeagramSean HawkinsSeason 5SeawayShadwellShane KennedyShannon TaylorShoshoneShout the BarSleeping BeautySophie's ChoiceSouth Island Foster FoalSpanish WhisperSpecial MemoriesSpiethSpyglass Hill SyndicateStakesStallion Parades 2016Stallion Register 2018Start WonderingSteel StilettosStephen AutridgeStranglesSue and Peter WestendSummer PassageSunlineSunset PassSuper EasySupergiantSupreme HeightsSurprise BabySusan ArcherSusan WalkerSweet LeaderSweet TreatTaranaki Breeders' StakesTattersallsTattyboglerTe ArohaThe Bold OneThe BostonianThe Chosen OneThe InformantThe KingThe Sunlight TrustTivaci ShuttleTofaneTom LaneTomsTony RiderTrain The Trainer WorkshipTravelling LightTravimyfriendTrevor LukeTrue EnoughTurrettTutta La ClasseUnderthemoonlightUnusual SuspectUpper CutUS Navy FlagVamos BebeVerdiVern TrilloVernanmeVicki PikeVisasVolatile MixWaikato BranchWaikato Regional Council ReportWait A SecWarwick JeffriesWayne PikeWeanling educationWeanling WalkWell DoneWellington BranchWertherWhat's The StoryWhite Robe Lodge HandicapWho Shot ThebarmanWilliam FellWillie and Karen CalderWinstarWinxWTBAXpressionXpressmymindXtravagantYogiZabeelZacintoZebrowskiZedZennistaZigwig
TAGS

National Party announces racing policy

Dr Don Brash and his Racing Spokesman Lindsay Tisch today announced the National Party's policy on racing at a media conference in Wellington. The announcement is reprinted in full below.

Peter Hutt, president of the New Zealand Thoroughbred Breeders' Association (NZTBA), welcomed the National Party announcement. "This is exciting news for everyone involved in thoroughbred breeding and racing. It's especially significant for owners, breeders and trainers whose investment underpins the industry's contribution to national employment and exports."

"We congratulate the National Party on responding to the fundamental issues holding back our development and look forward to hearing the other parties' policies."

Michael Martin, NZTBA chief executive, said, "The racing industry needs assurance that consistent taxation principles will be applied to the total gaming sector. The National Party policy on duty recognises that a correction is well overdue."

"Accelerated depreciation rates for stallions and older mares will give breeders confidence to re-invest in bloodstock. It is important for the development of our local industry that a good percentage of stallions are owned and managed by New Zealanders so the returns remain in this country."

"Our members are demanding a clear direction for the industry's future. We eagerly await the policies of all other parties leading up to the election."

RACING POLICY

National recognises that racing, breeding and ownership are facets of a unique agribusiness that contributes to our overall economy through employment, exports and related industries

RACING

Thoroughbred Racing and Standard Bred Racing have been in relative decline for decades and there is a need for adjustment in the industry as consumers have greater choices over how to spend their time and leisure dollars. Greyhound racing has enjoyed some growth.

The proliferation of newer, competitive gaming products such as casinos, gaming machines and lotto has reduced racing¡¦s share of the gaming dollar.

The rise of offshore betting and interactive wagering has completely changed the competitive situation. Wagering is now driven largely by different rates of betting duty.

New Zealand Racing contributes $1.5 billion per annum to the economy and supports 18,300 full time jobs and exports $130 million of horses.

Racing has enjoyed a special status, with its own legislation and Minister, but this status has held the industry back, preserving the past rather than preparing the industry for the future.

THOROUGHBRED INDUSTRY

The most significant issue for the New Zealand Thoroughbred breeding industry is its competitiveness with offshore breeding nations. During the period 1995-2003 the level of New Zealand investment in new stallions decreased from $7.9 million to $2.9 million.

The trend is to lease (rent) shuttle stallions from foreign owners in the Northern Hemisphere rather than buying. In 2004 $13.9 million was paid to overseas owners for shuttle stallions, which was fully tax deductible. Aggregated depreciation for stallions was withdrawn in 1986 while Australia has embraced write-offs. The current write-down for stallions is 25% per year.

National will:

*Allow 100% Write-off of stallions over 2 years

BROODMARES

Currently broodmares used for breeding purposes are allowed to be fully depreciated from age two (or higher) to age 11.
However older mares approximately 300 start breeding on or after age 12 and have a current minimum write-off period of three years.

There is justification for writing-off these old mares in full once they reach 12 years as they do in Australia.

National will:

*Allow 100% write-off from age 12 years

GAMING DUTIES

In 1995 the National Government reduced duty from 5.5% of turnover to 20% of betting profit. Casinos pay 4% of betting profit on casino wins.

There is inequity with respect to taxation compared with other gaming competitors and the industry is struggling to survive in the wider competitive entertainment sector.

Both Racing and Casino duty should be the same and based on betting profits. This will allow Racing to deliver on its domestic potential and realise its international competitiveness.

National will:

*Align Racing betting duty with that paid by Casinos (estimated fiscal cost $25m)

DISTRIBUTION OF OFFSHORE TAB PROFITS

Section 16 of the 2003 Racing Act states that the distribution of offshore profits be distributed to the 3 codes on the basis of domestic turnover.

National will:

*Develop a new consensus on Section 16 taking into account the reduction in duty so no code is disadvantaged.


- Susan Archer


 

This product has been added to your cart

CHECKOUT