ngatimaru

Poor Owners

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Operating costs up only 8% too.....thanks to flogging the Christchurch property and screwing the insurers.

Staff expenses just about wipe out Net Gaming Revenue and All other income combined.......

Glenda's struggling too...picking up only a measly $70k for attending 10 Board Meetings.....tough at the top eh....??

:rolleyes:

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On 11/28/2016 at 8:26 PM, ngatimaru said:

Once again the owners get slugged ?

Or does the Wanganui club reimburse the owners the Float fees & costs for the

cancellation of the races.

Hopefully they do..

But if those in charge had waited one hour before they made their

decision to cancel the Meeting.. racing could have continued as it turned out a beautiful afternoon.

Would not have mattered anyway because the Prims Donna boys were all on there merry way home.

Apparently the Wanganui Cup will be run next June.

Doesn't help  Mr..Lee Somervell who sponsored the race & hoped to win it with Celebrity Miss

She is in foal to Shocking & wont be able to compete in June.

I hope they reimburse Mr. Somervell & find another sponser

My mind Boggles at times??  Do these Jocks have no Nuts??

I remember  ( OK 'I'm old) when they broke out bales of straw in the Wellington birdcage so the horses didn't slip. 

& we still raced..

Now???       One Watery Fart & there in  the Car & gone.

Tell me if I'm wrong.

What beats me is that if you came from down the road you were reimbursed $200.00 per horse, but if we were to take one horse from  the Waikato and it cost $150.00 for road miles $300.00 aprox for diesel a motel $90.00 (so horse didn't have to race after 5 hours travel) staff wages to work while we were away, 2 days loss of earnings  and the cost of food for 2 days. In fact had we won we would probably still be out of pocket

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5 hours ago, Insider said:

So Leggy are you saying that before the Fair Tax campaign they were taking $85m in taxes, but they then gave back in duty reduction $50m  [three postings back] and roughly today ONLY bank $35m in GST+Betting Duty?

I am leaving out of the equation Pokie Money, as I despise the bloody things and wish that we didnt have to have anything to do with them - but that's another story.

Leggy, I think that you are bloody well named as obviously you are pulling the other one with those figures!

 

The only one pulling anything seems to be you Insider. Why don't you examine the annual report yourself at the link I provided and confirm? You have of course misquoted me, but that aside, my figures are correct. There used to be a rule here that if you say it, you should be able to back it up. So, if you or Brown Fox think my figures are wrong, please post and substantiate the correct ones.

Total betting duty for 2016 was 13.4m. That is assessed since FY 2006 at 4%. Prior to that, it was assessed at 20%. The value of the 16% variance for FY16 is therefore 4*13.4 =52.8m. So, that is the current annual value of the Fairtax savings.

Approximately half (47%) of the 13.4m is the duty on NZ Racing - $6.3m.

GST on Gross Betting Revenue(GBR) of 342.3m is 45.9m. Again, 47% of that is attributable to the GBR on all NZ racing - $21.6m -  the rest on sports and overseas events.

21.6 + 6.3 = $29.9m in GST+Betting Duty on NZ racing for FY16, so sorry, my original rough estimate of $35m was rather generous.

What part of that do you not understand? It hardly amounts to the government "sucking us dry" as far as I can see when they and the taxpayer are simultaneously gifting us 35.4m in Gross Gaming Revenue.

That leaves the other 53% of GBR on overseas and sports events - 181m. Add the 35.4m from pokie revenue = 216m. After all expenses, that's a taxpayer gift of 100m+. When the taxpayer wakes up to the amount they are subsidising racing, and that is all removed with the stroke of a legislative pen, you will see what I mean by my metaphoric cutting off of the life support.

 

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I obviously either can't add, or can't type.

So when I said "21.6 + 6.3 = $29.9m in GST+Betting Duty on NZ racing for FY16, so sorry, my original rough estimate of $35m was rather generous".

please read that as 21.6 + 6.3 = $27.9m in GST+Betting Duty on NZ racing for FY16...

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