PAY-OUT CHANGE
Some Clubs Will Lose
One-day clubs will be affected most by the decision to change the basis of distribution of profits of the Totalisator Agency Board. The change was announced on Monday by the board’s chairman (Mr G. H. Grigg).
Last year when the board distributed £955,322, the basic 15 per cent distribution to each club amounted to £1093 17s 7d.
One-day trotting clubs received from about £l5OO to more than £2300.
The changed basis of payout will probably mean that some of these clubs will receive considerably less than half of last year’s pay-out when profits are again distributed in October. Others will receive substantial reductions, while there will be increases for larger clubs. This drop in income will cancel out any benefits resulting from relief in taxation granted in the recent Budget. The- question of distribution of profits by the board is expected to be discussed at the annual meeting of the New Zealand Trotting Conference in Christchurch today.
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Bibliographic details
Press, Volume CIV, Issue 30802, 14 July 1965, Page 5
Word Count
163PAY-OUT CHANGE Press, Volume CIV, Issue 30802, 14 July 1965, Page 5
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