N.Z. RACING CLUBS

Gisborne Herald, Volume LXXI, Issue 21581, 7 December 1944, Page 7

N.Z. RACING CLUBS

£250,000 CONTRIBUTED WAR LOANS~& DONATIONS (P.A.) WELLINGTON. Dec. 7. The racing clubs of New Zealand have contributed more than .£250,000 to loans and national savings and in donations to patriotic funds from the commencement of the war to the end of the last racing season on July 31, 1044. Returns made by clubs to the Racing Conference show that investments in interestbearing loans amount to • £177,669, in interest-free war loans to £29,190, and in national savings to £16,877. Donations lo patriotic funds amount of £45,689. and gifts to other funds with a war bias total £3625. This gives an aggregate of £273,060 and with returns still to be made by several clubs it is probable that the final figures will approximate £280,000. These amounts are independent. of the sums paid in taxes by the clubs, which have been liable to income tax, national and social security tax and excess profits charges since the 1939-40 season. The Auckland Racing Club has been the largest taxpayer of all the clubs. For the 1943-44 season, which closed last July, the Auckland club paid £42,820 in income tax, £9264 Jn national and social security taxes, and £5375 in excess profits tax. The Wellington. Racing Chib paid £21.902 in income tax, £4736 in national and social security' taxes, r. ml £B4B in excess profits tax. The Canterbury Jockey Club paid £6473 in income and security taxes. From these figures it will be gathered that the sport of racing, though operating under 50 per cent reduction in hermits nnd .with transport restrictions affecting it extensively, is contributing handsomely both to the war expenses account and to the consolidated fund. •