RACING TAXATION

Evening Post, Volume CX, Issue 49, 26 August 1930, Page 11

RACING TAXATION

MAY DEFEAT ITS OBJECT

(By Telegraph.)

(Special to "The Evening Post.")

PALMEBSTONN., This Day

Addressing the annual meeting of the Manawatu Bacing Club last night, Mr. C. Louisson said that in view of the unfavourable legislation being introduced by the Government it would be necessary to endeavour to safeguard the club's finances for the coming season.

"It is considered inequitable that while many clubs are making a heavy loss on a meeting the Government is making a substantial profit over the same meeting," ho said. is no doubt whatever that racing was taxed to the utmost before the recent imposition of the additional 2$ per cent. totalisator tax, the effect of which wiil be that a further sum of approximately £200,000 will be taken by tho Government from the racing pool in a season. This will mean that all clubs .vill be faced with largely decreased turnover and gate receipts, which in turn may have the effect of reducing tho Government taxes to such an extent that it is doubtful if tho expected increase in the total, racing taxation will be realised. Eventually the result will bo that some of the small clubs will have to suspend operations, and thus the unemployment question will be accentuated, as it is recognised racing is an industry that affects employment. In many directions the stakes will be reduced, and many owners will of necessity be obliged to curtail their racing activities. ..'"'. . :..' ■

"A more equitable way of increasing taxation to be derived by the Government from the totalisatbr,'would be for tho Government to concentrate its activities on the passing of the Gaming Bill now before tho House,'providing for telegraphing of investments to racocouraes and for the publication of dividends, thus diverting a largo sum of money through a taxable channel to tho ultimate benefit of both Government and clubs concerned."