REVENUE FROM RACING

Evening Post, Volume CIX, Issue 125, 30 May 1930, Page 6

REVENUE FROM RACING

TAXATION LIMITS

INVESTMENTS BY TELEGRAPH

(By Telegraph.-Pre«» Association.l CHRISTCHURCH, 29th May,

At tho annual meeting of the Canterbury Jockey Club to-day, Mr. H. A. Knight, chairman, said that they w.ould have noticed from the totalisatpr figures that in taxation the club had paid £13,649, the public £21,600, and the owners £1810. Mr. W. J. .Poison, M.P., had advocated an increase of 5 per cent, in the totalisator tax, but he (the speaker) thought they would agree with him that it would simply .mean "killing the goose that lays ther golden eggs." There was always a limit beyond ■ which it was not safeV to-go, and he thought that that limit had been reached, if not exceeded. The question of allowing investments to. be telegraphed to the racecourse under certain conditions had been taken up by the Racing' Conference, but it had been considered inadvisable to bring the matter before last session of Parliament. It was hoped that favourable consideration might be given to the matter this year. It was fairly obvious that, if given effect to, it would benefit all clubs and increase the Government's revenue from this source of taxation. At. the present time, the bulk of the money that could not reach the course found, its way to the bookmakers. The racing season had further emphasised the success of New' Zealand horses in Australia. The stars had been Phar Lap and Nightmarch. Between them they had won the most important races in Australia. He did not think that they could claim credit altogether for breeding better horses than their Australian friends; that would be going rather, too far, but he ventured to say that tho climatic conditions in New Zealand were so superior for rearing and natural feeding, that., it was this that enabled them to more than hold /their own in high-class races ou this side of the world.