RACING CLUB TAXES
REBATE REFUSED THIS YEAR AID TO COUNTRY'S FINANCES [X-'kom Oua Parliamentary Reporter.] WELLINGTON, August 22. Because of the large increase in totalisator turnover, and also to help the country’s finances, the Government has decided not to grant the racing clubs the usual 1 per cent, rebate on the tax payable by the clubs this year. In the past the authority' to make this concession has been taken by a clause in the Finance Act under which one-fifth of tho tax payable by tho clubs may be retained for their own purposes. The procedure has been for the clubs, through their national organisation, to make application to the Government for a rebate which, to tho major clubs, represents a considerable sum. This year their applications have been refused. Clubs are entitled to receive a 2J per cent, refund on tax payable on tho first £20,000 turnover in each year. The Government receives £8 7s for every £IOO invested, and the clubs receive £8 10s. The refund is limited to £SOO. _____
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Bibliographic details
Evening Star, Issue 23351, 22 August 1939, Page 8
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172RACING CLUB TAXES Evening Star, Issue 23351, 22 August 1939, Page 8
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