TE KUITI RACING CLUB.

New Zealand Herald, Volume LX, Issue 18457, 21 July 1923, Page 13

TE KUITI RACING CLUB.

PROFITS AND TAXATION. [BE TELEGEAPH. —OV>£ CORRESPONDENT.} TE KUITI. Friday. Tho annual report of the Te Kuiti Raoing ! Club states that the heavy taxation on ■ clubs bud the effect of leaving tho To Kuiti Club quite without funds to make improvements to the course and appointments and the position of having to ciirry on from year to year at an actual loss. The meeting at Te Kuiti under the " pooling scheme " had been a successful one. The total profit shown was £1279, as against a profit, of about £400 on tho previous one-day meeting held in Te Kuiti in 1922. Tho club received the euro of £959 from the pool. Commenting on the possibility of a second day's racing at To Kuiti the report says: " Tho committee, however, has all along regarded the 'pooling ochome' as merely a temporary relief, and no stone is being .left unturned to attain the object for which we have been striving so long, namely, a second day's racing. It is understood that legislation is now in course of preparation, providing for an extra number of permits, and that it will be brought beforo Parliament at an early date The total taxation paid to the Government as a result of tho 'pooling scheme' was £19,015. while the total profits made by the combined clubs waa on'y £7672, so that for every Ss 6d of gross profits made in connection with these meeings. approximately 2a 6d was paid to tho Government and only Is retained by the clubs."