Racing Club Expects No Rates Reduction

Sun (Auckland), Volume III, Issue 739, 12 August 1929, Page 11

Racing Club Expects No Rates Reduction

£62,000 IN STAKES PROSPECTS OF GAMING BILL Regret that he could see no hope of a reduction in taxation was intimated by Sir Edwin Mitchelson in a report to the Auckland Racing Club at its annual meeting today. Sir Edwin congratulated tne club on the success of last racing season's operations, which resulted in a profit of £5,u90 6s> id. After having written off for depreciation £ 3,889 18s 2d, as shown in the balance sheet, an amount of £ 1,200 7s lid remained to be carried forward to capital account, which now stands at £.120,917 7s Bd. The amount paid away in stakes during the past season amounted to £61,250, in addition to £3OO in sweepstakes provided by owners. “With regard to future improvements,” said fsir Edwin, “which were mentioned in last year’s report—these have not been lost sight of, but are being kept steadily in view, so that when our finances become more elastic it is hoped that an early start will be made to give members and the public the increased accommodation so urgently needed. Your committee, however, desires to proceed cautiously, so as not to place too heavy a burden on the club’s finances, while at the same time protecting racing interests and the public generally.” ‘‘Throughout the season we had good racing and excellent attendances, notwithstanding the adverse weather conditions at the summer meeting, and the unfortunate happening on the first day of the spring meeting. Ellerslie Improvements The improvements to the course proper which were commenced three years ago have now been completed at a cost of over £ 10,000. The great improvement made is generally acknowledged to be most satisfactory, and highly appreciated by horse owners and tlie public. In this connection there only now remains to be done the work already commenced to provide for the new steeplechase track outside the course proper on the long straight at the back of the course. This work will be carried out as opportunity offers. No doubt members will have noticed the great falling off in totalisator revenue at Ellerslie during the season ID2S-29. In the season 1927-28 the totalisator turnover was £911,605, whereas in the season 1928-29 it was £783.024, a falling off of £128,581. The sum of £75,000 of this amount was lost during the summer meeting, and the unfortunate occurrence at the spring meeting also had a serious effect on the totalisator returns. The falling - off in totalisator figures has been felt throughout New Zealand, as is evidenced by the fact that the falling off on all racecourses other than trotting has been £686,986. Slightly ever one-sixth of this amount was lost at Elerslie. That cannot be considered out of the way, as Ellerslie produced last year over one-sixth of the total turnover. The reduction is regretted, both trotting as well as racing clubs having been affected in this direction, but it is hoped that a return toward more normal conditions will be experienced at an early date. Burden of Taxation Taxation during the year under review has been responsible for the payment to the Government of £61,878 19s Sd, £8,044 less than was paid last year. The club received a rebate of the usual £250 from the Government. Rates and water for the year al:>sorbed £2,294, making a total for the year in taxation and rates £64,173. “I regret having again to express the opinion as last year in regard to the obtaining of some relief from the heavy taxation levied on racing, but I cannot, after perusing this year’s Budget, see any prospect of a reduction. The Gaming Bill “As you are probably aware Sir George Hunter has introduced a Gaming Bill, which has for its objects the telegraphing of money for investment on the totalisator through the secretaries of racing and trotting clubs, and to permit the publication of dividends, concessions that have been repeatedly asked for. Several Gaming Bills have previously been introduced in Parliament, and while they received the support of a considerable majority of members, for some unaccountable reason they failed to reach the Statute Book.

“In view of the position of the present Bill on the order paper there is a danger that it will meet the same fate as its predecessors, but it is hoped that the Government will concede an opportunity for the Bill to reach the second reading, so that racing and trotting clubs may receive financial benefit through it being passed into law. The consolidated and Post and Telegraph revenue will also be considerably increased by the passing of the Bill.”