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Federal Research & Development Levy Announced
Thoroughbred Breeders Australia (TBA) is pleased to advise that a new thoroughbred research and development levy was officially confirmed by the coalition government yesterday. Under the levy, the government has pledged up to $400,000 annually to be invested in areas such as disease control, welfare, reproduction and injury prevention. These funds, which will match the breeding industry's own contribution, will generate close to $2.4 million over the next three years for research and development projects vital to the sustainable growth and development of the Australian thoroughbred industry. The announcement comes after the extensive advocacy of the Federal Government by Thoroughbred Breeders Australia and was welcomed by TBA chief executive, Tom Reilly. "The TBA has worked hard on behalf of the thoroughbred industry to ensure there is proper recognition from the federal government for breeders," Mr Reilly said. "Thoroughbred breeding generates billions of dollars of economic activity each year in Australia and our horses are recognised around the world for their ability and quality. This levy will play an important role in maintaining our reputation as world leaders and protecting our industry in the years to come." The federal government will work with TBA to implement the new levy by 1st July, 2017.