REBATE LOST
RACING CLUB TAX GOVERNMENT ACTION (By Telegraph.—Press Assorlailon) WELLINGTON, Tuesday Presumably in view of the large increase in totalisator turnover, also the country’s finances, the Government lias decided not to grant racing clubs the usual 1 per cent, rebate on the tax payable by clubs. In the past, authority to make this concession has been taken each year by a clause in the Finance Act, under which one-fifth ol' the tax payable by the clubs may he retained for their own purposes. The procedure has been for the clubs, through their national organisation, to make application to the Government for the rebate, which to the major clubs represents a considerable sum. This year their applications have been turned down. Clubs are entitled to receive a 2J per cent refund on the tax payable on the first £20,000 of their turnover in each year, and subject to that the Government receives £8 7s for every £IOO invested and the clubs receive £8 10s. The refund is limited to £SOO.
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Bibliographic details
Waikato Times, Volume 120, Issue 20889, 22 August 1939, Page 6
Word Count
170REBATE LOST Waikato Times, Volume 120, Issue 20889, 22 August 1939, Page 6
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