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Newcastle Tax Seminar For Racing Industry

Wednesday, 5th April 2006

Racing NSW has advised that "the Tax Office is currently reviewing the level of compliance with tax laws by participants in the thoroughbred horse racing industry". To assist participants to meet their tax obligations, the Tax Office is presenting a free tax seminar for racehorse owners and/or breeders in Newcastle & the Hunter area on Thursday April 27 (6-8pm) in The Pavilion at the Newcastle Jockey Club's Broadmeadow track. The seminar aims "to provide an awareness of taxation obligations in relation to industry participants" & will specifically "address the question: are you conducting a business or a hobby?" as well as "capital gains tax implications on disposal of a racehorse by a hobbyist".

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