RACING CLUB'S LOSS
ONE-SIXTH OF TAXATION BENEFITS TO GOVERNMENT [BT TKLEGKArH —OWN CORRESPONDENT] GISBORNE, Saturday During the year now drawing to a close the Gisborno Racing Club suffered a net loss of £263, which amount is less than one-sixth of tho total sum paid to the Government in taxation. During the same period the Consolidated Fund reaped an aggregate of £1624 from tho unprofitable year of this club, tho totalisator tax being £787, tho dividend tax £761, and the amusement tax £75. Taxation as a whole was greater by about £250 than for tho previous year, but thero was an extra day's racing to bo taken into account. The totalisator turnover in tho year 193132 was £17,414, against £14,055 for tho year 1930-31.
Referring to tho development which occasions the passing of the Gisborno Racing Club, the report states that during tho year the amalgamation of tho club with tho Poverty Bay Turf Club had been arranged. "Your committee is convinced that tho step taken is in the interests of racing, and will bo to tho benefit, not only of members, but of all connected with racing in this district," tho report states. ."At its annual meeting, the New Zealand Racing Conference expressed strongly its approval of amalgamation."
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NZH19320926.2.110
Bibliographic details
New Zealand Herald, Volume LXIX, Issue 21297, 26 September 1932, Page 10
Word Count
208RACING CLUB'S LOSS New Zealand Herald, Volume LXIX, Issue 21297, 26 September 1932, Page 10
Using This Item
NZME is the copyright owner for the New Zealand Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence . This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries and NZME.