poundforpound

I hate to say I told you so.....

74 posts in this topic

But, I posted this elsewhere, read it and weep you fools.

 

I  love it when the fucking idiots who populate this industry (a hard core group of mental midgets infesting the Cambridge trainers hut who disagree with me, behind my back ) have to swallow a dead rat like this stinker.

$4.8 million tax write downs over four years FFS.....ya mugs......you’re so stupid and gullible.

The well soaked Emperor had nothing, he played his hand, there’s nothing in it....now go back to eating the wallpaper off ya walls because it’s what you deserve for believing in this minority coalition of the delusional and damned, and the well soaked thick tongued bumbling old fool who announced this shite today. So much for the “package” he promised would be in the budget.

I hate to say I told you so........but....you’re getting exactly what you deserved.....and you’ll get the same from Messara 

https://theinformant.co.nz/website/News/single_news/Bloodstock-tax-rules-to-change/YW9853


 

 
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And in comparison just remind me again all you Peters sycophants how much the bloated bureaucracy sucks out of the racing industry annually.

$4.8 mil over 4 years for write-downs--about 10 " well-breds" per year by my reckoning, probably shared between Hogan, Chittick, Bax and Lindsay.

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Well I can' afford hundreds of thousands to buy a 'quality' yearling. Doesn't mean I don't spend exactly the same amount as those more well off to look after and train my lesser quality select sale filly. Jesus what a crock. I am one of those new entrants to this racing and breeding game the industry is trying to attract and I feel very unappreciated.

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Note the precision with which Luigi states what's to happen:

“These changes mean that a new investor in the breeding industry will be able to claim tax deductions for the costs of a horse as if they had an existing breeding business. To qualify, the horse must be a standout yearling.

“I expect the new rules will apply to yearlings acquired from next year’s premier bloodstock sales.”.

What is a standout yearling?  What are next year's premier bloodstock sales?  Why are the tax deductions restricted to yearlings?  Why are they restricted to yearlings going through the sales ring in 2019?

Jacinda  and Grant have patted Luigi on the head and sent him off with a few coins on a fool's errand.

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Email just received from Simon Bridges, very poorly informed.

Winston Peters is happy because he got his billion dollars for diplomats and a new embassy in Sweden, as well as more money for his racing mates. Unfortunately, Labour has put this ahead of funding the Roxburgh Children’s Camp and mental health.

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In the unlikely event of Simon Bridges ever becoming PM he would do exactly what Winston has done that is bring in policies that please the people who have funded him into office. The elite breeders don’t need tax breaks nor do potential buyers of these mythical elite yearlings. The people who need a helping hand are those who get out of bed at 3.30 in the morning and do the hard yards for owners who against all odds continue to support the industry.

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4 minutes ago, gubellini said:

In the unlikely event of Simon Bridges ever becoming PM he would do exactly what Winston has done that is bring in policies that please the people who have funded him into office. The elite breeders don’t need tax breaks nor do potential buyers of these mythical elite yearlings. The people who need a helping hand are those who get out of bed at 3.30 in the morning and do the hard yards for owners who against all odds continue to support the industry.

Spot on Gub

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How many yearlings sold at the premier sale go to Kiwi buyers?  David Ellis the only kiwi buyer I can think of.

NZ got screwed with this dumb 3 headed monster that is now running the joint.  It will all end in tears.  A bunch of university politics wannabes who have never worked in the real world, teamed up with the greens loonies and a tired old bunch of xenophobes led by a tosser having his last throw of the dice before he retires ungracefully.

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Define “high quality “. Is there a price bracket that’s expected to be a part of the write down?

It looks like this change will cater for The high end breeders and “investors “ - what about the speculators that keep this industry alive - those that spend under $50k and have a blast racing horses.  No thought for those that do this for - wow - the love of racing.  Aren’t these the people we want to encourage.  Not everyone - in fact the minority has over $100k to spend on a race horse.  Sad ! 

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6 hours ago, rdytdy said:

Most definitely "underwhelming" 

 

True. Meanwhile, the industry leaders remain silent and useless waiting for the government to solve their problems. It ain't going to happen.

From Peters' recent comments, the Racing Amendment Act appears to be a dead duck. Probably a good thing since the chance of it returning anything significant  to the industry is slim to none and the DIA reckons it might be the opposite and actually cost money.

The NZRB goes merrily on borrowing $15-20m a year from reserves to sustain stakes while continuing to deploy worthless strategies that have yet to return a single dollar to the bottom line. NZTR is devoid of strategies except to wait for more money from the government and NZRB. That entire organisation is MIA. And, the other industry bodies have no useful ideas let alone any useful action.

Things can only go in one direction from here. Never mind, we are used to it.

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Have to agree Leggy, you and Leo are right I feel, and the sinking ship scenario comes to mind as I trundle off out the door to do what I have done for many years, and I love the industry to bits, but boy is it in decline and there appears to be not a lot of light at the end of the tunnel!

I do worry about the borrowing of money to sustain stakes,  greatfully be proved wrong somewhere along the way!

 

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18 minutes ago, Chris Wood said:

Have to agree Leggy, you and Leo are right I feel, and the sinking ship scenario comes to mind as I trundle off out the door to do what I have done for many years, and I love the industry to bits, but boy is it in decline and there appears to be not a lot of light at the end of the tunnel!

I do worry about the borrowing of money to sustain stakes,  greatfully be proved wrong somewhere along the way!

Same here Chris, back inside for a cuppa after doing brekkie feeds....and yes,  I love the industry and [ most ] of its incumbents,  human and equine,  too - but evidence shows that expecting enlightened management from NZTR is a pipe dream.

NZRB a different animal of course,  but borrowing against future gains I can't get my head around ; I have been told this is customary practice in the wider commercial world;   shit,  doesn't work for me I'm afraid!

18 minutes ago, Chris Wood said:

 

 

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2 hours ago, Leggy said:

True. Meanwhile, the industry leaders remain silent and useless waiting for the government to solve their problems. It ain't going to happen.

From Peters' recent comments, the Racing Amendment Act appears to be a dead duck. Probably a good thing since the chance of it returning anything significant  to the industry is slim to none and the DIA reckons it might be the opposite and actually cost money.

The NZRB goes merrily on borrowing $15-20m a year from reserves to sustain stakes while continuing to deploy worthless strategies that have yet to return a single dollar to the bottom line. NZTR is devoid of strategies except to wait for more money from the government and NZRB. That entire organisation is MIA. And, the other industry bodies have no useful ideas let alone any useful action.

Things can only go in one direction from here. Never mind, we are used to it.

Silent .. don't be redonkulous ! They are sorting out diversity in racing and Animal Welfare while all this is going on!

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50 minutes ago, Pam Robson said:

 

NZRB a different animal of course,  but borrowing against future gains I can't get my head around ; I have been told this is customary practice in the wider commercial world;   shit,  doesn't work for me I'm afraid!

 

Well it does happen in the commercial world Pam but usually when the business model for the borrowing has been well established and future gains are reasonably certain..

I am not convinced all these facets are present in the racing world......

 

 

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I’m thrilled I’ve transitioned from the thankless grind of training horses.......and repositioned myself with a great business right in the beating heart of the next America’s Cup, flanked by Team NZ and Prada. 

I note you poor bastards got nothing in the budget, however the America’s Cup got 100 million.....go figure .....and of course the Cup will inject another 500 million plus into the local Viaduct economy.....I’ll have to hire someone to help me stack the notes and count it, then I’ll go buy a couple of really “nice” yearlings ( there’s no better judge than me of a “nice” yearling ) then I’ll claim the tax write offs there.....I’m smiling, I’m getting two bites of the cherry, and you poor bastards got nothing......text me if you need a tissue...

 

 

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John Allen was chatting to Whisky Winn

 

Do you find me entertaining ?

I'd say you were too dim to entertain a thought......

 

Whisky is a cunning old c..t who says and does anything to get his own way, and this time it is the Racing Industry with the dirty smelly diapers after sharing a meal with him.

 

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He’s bitter, a liar, and he’s a parasite.

That means two things, he’ll do whatever he can to hurt a centre right government because he fell out with both Bolger and Shipley.....and secondly, he’ll take what he can from any donor ( I don’t need to remind you who’ve been his benefactors ), he’ll lie to them with regard to what he’ll give in return, and then he’ll turn traitor because he has no shame and no sense of guilt.

Sadly he’ll still get treated like royalty at big racing carnivals and at next years Karaka sales when the reality is that he should get treated like the pox.

I have to say though I’m finding this atrocious manner in which he’s treating racing rather amusing given that so many of the blind morons here and elsewhere still believe in MIA Jackson, NZTR, NZF and now the Messiah....brain dead morons... 

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2 hours ago, chelseacol said:

Well it does happen in the commercial world Pam but usually when the business model for the borrowing has been well established and future gains are reasonably certain..

I am not convinced all these facets are present in the racing world......

 

 

Yes I agree Col, however when you borrow in business you need to show your profit and loss, you need to provide ample securities, NZR fail on both accounts, so the only lending facility is themselves, therein lays a huge transparency and governance problem, oh, but wait, the word accountability now comes to mind.......and that's when it all come undone.....Ms Pam is correct,  and it's only at the coal face can they bought to account. The Trainers association is a paper tiger, their voice should be the loudest, maybe paper tiger is being too kind, The Roar That Moused is more apt, how very sad this all is.

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