NO TAX ON WINNINGS

Press, Volume XCIX, Issue 29145, 4 March 1960, Page 5

NO TAX ON WINNINGS

Ruling On Caduceus

SYDNEY, March 3.

Non-professional New Zealand owners would be able to bring their horses to Australia in future without any worries from the Australian taxation authorities, the “Sun” sporting columnist, Des Corless, said today.

“This is the effect of a ruling given to the Moore brothers, owners of the inter-dominion winner Caduceus,” he said. Caduceus won more than £13.000 on his last trip to Australia and when the owners sought a clearance from the taxation Department they had to lodge a bond of £4400. The Sydney branch of the Taxation Department demanded the bond and the owners sought a ruling from Canberra. They had now been told that the query on Caduceus’s winnings should never have been raised, Corless said. “Obviously, the fault lay with thq taxation office in Sydney,’’ Corless said. “To impose such a tax would have had a detrimental effect on Australian racing and would most probably have meant a big reduction in the number of horses —both gallopers and trotters—coming from New Zealand for big carnivals here.

“Australian owners, too, might have thought twice about going to New Zealand next year for the inter-dominion for fear of a counter move by the taxation department there,” he said.