THE "TOTE" TAX

Evening Post, Volume CX, Issue 50, 27 August 1930, Page 6

THE "TOTE" TAX

■HOW; IT-ISv OPERATING

The increase in the totalisator tax from 2% to 5 per'cent.,-now in operation, caused particular, interest to be centred in the totalisator. returns for -the two race meetings held on Saturday, those of the Pakuranga:Hunt Club at Ellerslie and the Hawkes Bay Hunt Club at Hastings. In each case, writes "Phaeton" in' the Auckland "Herald," the investments showed a decrease- compared with last year, but while the clubs' quota., of. totalisator revenue dropped correspondingly, the Government reaped a substantial .gain. ■ ■ The investments at the Pakuranga Meeting totalled £34,871 10s, compared with £40,988 law. year, a decrease ot iollU 10s The result was considered satistactory, for in view of the prevailing economic conditions the club's officials; were prepared for a larger decrease. One race, the Ladies' Bracelet, attracted a larger pool than.'last,year, .but decreases were general in the - other races, the three 'largest pools supplying, the three largest decreases. Following is a table .showing the betting::— Eace. 1029. ■ 1030. Decrease. ■- ■ :-•■■ :•-•£■- •' '£ £ First ...... 2451 : 1806% ■ ,674% Second V .'...■ 3322% 2691 V 631% Third - ......' 4711% 4534 ■ ; 177% Fourth ....:: 6950' ' 5400% 1549% Fifth i .5029 -4294 735 Sixth '......' 6207 ;V, 5138- 1009 Seventh, .... 4182 ■ '. . - 4000% 424%* Eighth ..... 8105. : 6401 1704 Totals .. £40,988 34,871%- 6116% '.- '~ ... *Increase.'. • The total yield to the Government in totalisator tax and dividend duty at Ellerslie on Saturday was £3268, an increase of £400 on last year.' If the totalisatbr tax had not been increased from 2% to 5 per cent, the Government Would have received £2440; so that the actual gain is £828. This resulti was achieved m spite of a decrease'of '£319' in the yield from the 5 per cent, dividend duty, partly accounted for by the totalizator tax increase leaving less money available for dividends. The club's levy, of ,7% per cent, on investments yielded £2615,' a decrease of £45D. The following table shows how the totalisator deductions in revenue and tax were distributed:— ■■••.- ' ■ . . . GOVERNMENT. ' * ' 1920. ' 1930. Difference ' . ....£ £ £ Dividend tax ~.;-1844 1!525 319 Totalisator tax..- 1024 .. 1743; 719 . . Totals ...... £2868 .3268 400 ■ . •■hunt: club. ' Totalisator revenue 3074 2615 ' 459 The totalisator ,■ investments at the Hawkes Bay Hunt Meeting amounted to £5985, compared with £7957, a decrease of £1972. The Government received in totalisator tax and dividend duty £G6O, compared with £418 if the tax had not been .increased. "- ' ... ,'.' '■" The Government's' total yield from the totalisat&r at. tlie twi> lneetings; was : £3828, ,an. increase-.,0f- .£:554- t o.n last, year, and £970 more than if the tax had not been altered. ■•"'•'-' • ": ■ ' •