RACING CLUBS' LOSSES

King Country Chronicle, Volume XXV, Issue 3372, 1 October 1931, Page 5

RACING CLUBS' LOSSES

PETITION TO PARLIAMENT. FOR REDUCTION IN TAXATION. In a petition to the Minister of Finance to be presented by the New Zealand Racing Conference and the New Zealand Trotting Conference asking for some relief from taxation, some startling figures are given of the heavy losses sustained by the racing and trotting clubs. The two Conferences contend that the present rate of per cent, totalisator tax and 5 per cent, dividend tax is excessive. This has led to diminished totalisator returns which necessitated heavy reductions in stakes and is having a disastrous effect on racing generally. It is felt that unless some relief is given in taxation the majority of the clubs will have to close down. The following table shows the heavy losses sustained by Racing Clubs during the 1930-31 racing year:— Profit. Loss.

The total taxation paid to the Government by these Clubs amounted to £373,347, while the amount of stakes paid was £360,736£. Trotting Clubs.

Of the thirty-three Trotting Clubs in the Dominion, one did not hold its meeting, six made profits amounting to £IO6B, and the losses for the remaining twenty-six amounted to £19,445 . The Government taxation of these Clubs amounted to £147,666 while the stakes paid out were £153,020.

£ £ Auckland R.C 3003 Avondale J.C 1029 B. of Plenty J.C. 47 B. of Islands R.C 248 831 Franklin R.C 288 Matamata R.C 300 Ohinemuri J.C 494 Opotiki J.C 295 Pakuranga H.C 393 189 Takapuna J.C." . . 1510 Taumarunui R.C 8 Te Aroha J.C 1303 Te Kuiti R.C. . . . . 541 Thames J.C 137 Waikato R.C 1966 293 Waipa R.C 160 Whangarei R.C 1097 Amberley and Hororata R.C.'s (combined) . . 453 Ashburton C.R.C 103 Banks Pen. R.C 191 2469 Christchurch H.C. . . 429 Geraldine R.C 52 North Canterbury R.C. 1006 South Canterbury J.C. 237 South Canterbury Hunt 50 189 Beaumont R.C 133 200 1050 217 94 Otago Hunt C 203 118 160 Waikouaiti R.C 194 , 371 323 146 Reefton J.C 72 Westland R.C 936 Westland J.C. and Greymouth J.C. (comb'd) 30 134 Dannevirke Hunt 13 1497 Hawke's Bay Hunt C. 215 Hawke's Bay J.C. 828 Napier Park R.C. 630 Poverty Bay Hun£ C. . . 408 Poverty Bay Turf C; . . 723 Tologa Bay J.C 249 Waiapu R.C 255 Wairoa R.C 633 Waipawa County R.C. 36 Waipukurau J.C 702 Woodville D.J.C 1639 Clifden R.C 60 Gore R.C 318 Otautau R.C 50 Riverton R.C 757 Southland R.C 1462 49 378 Wyndham R.C 177 Egmont R.C 2033 342 StraHford R.C 243 2322 Taranaki Hunt C. 221 Ashhurst-Pohangina R.C. 296 Feilding J.C 1626 573 1954 Marton J.C 1646 697 Wanganui J.C 2414 386 375 14 Marlborough R.C. 306 Masterton R.C 576 Otaki Maori R.C. 1506 Pahiatua R.C 313 Wairarapa R.C 1520 Wellington R.C £ 5939 3964 56182