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Breeders Bristle At Stallion Tax Proposal

Friday, 18th December 2009

Racing's breeding sector "has dismissed as unfair recent calls for stallion owners to pay a levy towards prize-money," reported The Daily Telegraph. With racing's "funding base under threat & a push for corporate bookmakers & betting exchanges to pay a turnover tax on bets, it has been suggested the breeding industry should also be made to pay its way through either a stallion or foal fee". But Thoroughbred Breeders Australia president Trevor Lobb said last night Australian breeders "already made a significant contribution to racing & the economy & noted: "Australia has the 2nd-largest breeding industry in the world with 800 stallions & 28,000 broodmares, which represents billions of dollars of investment in the riskiest form of primary industry. The size of the investment needed for even a moderately-priced stallion is millions of dollars with no certainty of success. Breeders go into the business with their eyes open & are not asking for sympathy or special treatment, but if there's going to be a tax on the few really successful stallions, then there's a case for compensation for the failures. Both suggestions are ridiculous." Lobb summed up: "Breeders will continue to play a constructive & supportive role in addressing racing's challenges. But don't expect us to cop talk of a wealth tax or success levy without first putting the facts on the table." And Lobb emphasised "80% of breeders are racehorse owners, thus increasing their investment in the racing industry. This translates into numerous jobs in stables & increases runners for race clubs." (Jun 16)

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