Hangfire

Winston gets the betting duty back for racing as promised

31 posts in this topic

Winston continues to deliver for Racing! The latest industry update from Brian Delore below:

Winston gets the betting duty back for racing as promised

by Brian de Lore
Published 17th May 2019  www.theoptimist.co.nz

Racing Minister Winston Peters delivered another piece of the racing industry jigsaw puzzle solution this morning at Karaka when he announced his government was repealing the betting levy for racing as part of Budget 2019.

In his speech to an attentive group of industry participants, he said: “As Messara pointed out, the New Zealand Racing industry could and should be performing at a comparative level to other jurisdictions – for example, as in Australia. 

“For this reason, the Government will repeal the current betting levy that is taken from racing and sporting gambling profits. By repealing the levy, this money will no longer flow to the Crown – it will instead be retained by the racing industry for the development of the racing industry.

“The funds will be distributed to the racing and sporting sectors, with part of the funds to be set aside to support a reduction in gambling harm initiatives. This is not small change,” emphasised Peters. “This levy represents four percent of betting profits, and in 2018, it amounted to approximately $13.9 million.

“The levy will be progressively reduced over three years until it is phased out entirely,” he said, but surprisingly his speech made no mention of either a synthetic or all-weather track for Cambridge or the personnel make-up of RITA which replaces NZRB on July 1st. Those announcements are still pending.

Some racing pundits will be disappointed about the three-year phasing out time, instead of it coming back 100 percent immediately, but remember that all these concessions the Minister gains for racing require negotiation with Treasury with whom Peters has been seemingly fighting the 100-year war.

When Messara lobbied the NSW government for tax parity, it took him forever to get it, and even then, the tax concessions were phased out slowly over five years. But it was a landmark win for Racing NSW, and for his perseverance and guile, it was the part of the reason Messara received his Heroic Award, Member of the Order of Australia, and more recently Longines IFHA International Award of Merit. They are three of six big awards he has received – all for racing.

In New Zealand, we haven’t had the luxury of a Messara or a CEO of the calibre of Peter V’landys. But when examining the long-list of racing ministers, it can be safely said that Peters is the only one to have delivered significant tangible benefits, and he has done it in both his terms as Minister of Racing.

In his first stint, 2005 to 2008, he repealed a racing tax which had immediate benefits of $33 million annually and today continues to benefit the industry to the tune of $65 million annually. The tragedy of that gain is that most of the money has been used to mushroom the NZRB gravy-train rather than filter through to needy industry stakeholders.

Having read the Cabinet papers several times since their release over a month ago, it’s was easy to convince yourself racing would be getting more in this announcement than subsequently received. But that assertion was based on the number of budget-sensitive redactions over the three Cabinet papers which numbered 31, and then an overly optimistic reviewer.

Two years ago, Winston talked about the battles he had with Treasury over various issues for racing, and it appears to have been no different this time. In Cabinet Paper No 1 it seems evident that Treasury has little regard for the racing industry. Treasury was just one of many government bureaucracies consulted to complete the suite of Cabinet Papers which also included the State Sector Commission, Inland Revenue Department, Ministry of Foreign Affairs and Trade, Ministry of Health, Te Puni Kokiri, Ministry of Justice, Sport New Zealand and Ministry of Primary Industries.

Treasury came up with all sorts of hurdles and was negative. It talked about, “significant regulatory and financial implications for the Crown; the risks relating to greater gambling harms as a result of the proposals, including any wider impacts on wellbeing; the impacts on New Zealand consumers (gamblers), including whether they will face higher or lower costs; and the impact on the financial position of the New Zealand Racing Board.”

The last one is a beauty – indicating empathy between those two organisations. If you are worried about the financial impact on NZRB but are oblivious about the plight of the racing stakeholders then, “Houston, we have a problem.”

Politicians do deals to get things rubber-stamped and although no evidence has been put forth to suggest the Minister had to concede ground on getting the betting levy eliminated, the fact that it has to be phased out over three years suggests it was hardly likely to be in the Minister’s plan.

Quite the opposite. In the Executive Summary of Cabinet Paper 1, it talks about “the immediate need for supplementary revenue; an urgent need for reform; financial viability from a commercial perspective; and a requirement for bold and deliberate decision-making.”

The Minister understands the urgency for racing’s plight but knows, at the same time, the legislation to right the ship long-term is attainable only through cumbersome and slow bureaucratic processes. We are getting closer though – only six weeks away from the of Bill No. 1 coming before Parliament if MAC and DIA collectively keep to their tight schedule.

Consider the impact of the two Bills. With the collection of racefields and Point Of Consumption (POC) levy, $30 million a year will come back to racing – revenue not previously collected. Australia started mustering this tax in 2008, and that’s one reason we have been left behind – all having resulted from the work of people like V’landys and Messara.

Add to that the savings derived from outsourcing the TAB and its subsidiaries such as broadcasting – a further $70 million a year. Total $100 million back to the codes above what they were getting and the feasibility of Messara’s claim of doubling stakes becomes a reality.

That doesn’t take into account the massive up-front, lump sum fee at outsourcing negotiation time, which is money that could go back into badly needed infrastructure upgrading of facilities at racecourses.

To manage it correctly requires a fundamental change of thinking at an administrative level; a more business-like approach which has been AWOL at NZRB.

Whatever happened to the plain, simple logic of good, sensible business practice? The two components of income and expenses. If your income exceeds your expenses, then you make a profit. If the income reduces for whatever reason, the most controllable component in business is the expenses, and so you cut your cloth accordingly.

That basic rule-of-thumb is unknown at NZRB. The decline in profit has coincided with increased expenses, and it’s been going on for a long, long time. It’s called ‘denialism’ which is a psychological condition of human behavior.

Denialism is when a person or group of people avoid reality as a way to avoid a psychologically uncomfortable truth. It occurs when a seemingly intelligent and sane adult vehemently denies truths despite a body of irrefutable data. That’s what’s been happening at NZRB.

It’s either denialism or when you have no skin in the game you just don’t care. Take the recent round of NZRB Industry Conversations, as they have been calling them, as an example. Last week it was Hastings, and next week it will be Riccarton.  The salaries of the three executives involved probably totals $1.2 million or around $5,000 a day. Auxiliary expenses such as airfares, transfers, lunches, dinners, accommodation if required, and anything else, could easily bring it up to $8,000 or $9,000 per day.

They are preaching for little over an hour to a mainly elderly group of around 30 people, half of whom have come for a cup of tea and sausage roll FOC. The other half are mainly retirees with a genuine racing interest – few trainers or working participants can get along in the middle of the day.

The question is, what quantifiable return is racing to get for this expenditure – the algorithm to measure it doesn’t exist – this industry needs a ‘nonsense to nonagenarian’ meter – it would have gone off the scale!  As well, no apparent concern about the wastage of industry money is in evidence from either the protagonists or the dozing nonagenarians.

The culture will be changing, though. RITA will get the Messara Report done and dusted inside a year, and when that happens, the industry will have a spring in its step that’s been missing for years.

Racing’s livewires ‘Boys Get Paid’ will be out in force making their presence felt and redefining the standards for the enjoyment of racing – Luke has posted his debut blog here on this site today and will regularly contribute as we wait and hope for the emergence of a new racing weekly. Onwards and upwards.

Share this post


Link to post
Share on other sites
20 minutes ago, Hangfire said:

Winston continues to deliver for Racing! The latest industry update from Brian Delore below:

Winston gets the betting duty back for racing as promised

by Brian de Lore
Published 17th May 2019  www.theoptimist.co.nz

Racing Minister Winston Peters delivered another piece of the racing industry jigsaw puzzle solution this morning at Karaka when he announced his government was repealing the betting levy for racing as part of Budget 2019.

In his speech to an attentive group of industry participants, he said: “As Messara pointed out, the New Zealand Racing industry could and should be performing at a comparative level to other jurisdictions – for example, as in Australia. 

“For this reason, the Government will repeal the current betting levy that is taken from racing and sporting gambling profits. By repealing the levy, this money will no longer flow to the Crown – it will instead be retained by the racing industry for the development of the racing industry.

“The funds will be distributed to the racing and sporting sectors, with part of the funds to be set aside to support a reduction in gambling harm initiatives. This is not small change,” emphasised Peters. “This levy represents four percent of betting profits, and in 2018, it amounted to approximately $13.9 million.

“The levy will be progressively reduced over three years until it is phased out entirely,” he said, but surprisingly his speech made no mention of either a synthetic or all-weather track for Cambridge or the personnel make-up of RITA which replaces NZRB on July 1st. Those announcements are still pending.

Some racing pundits will be disappointed about the three-year phasing out time, instead of it coming back 100 percent immediately, but remember that all these concessions the Minister gains for racing require negotiation with Treasury with whom Peters has been seemingly fighting the 100-year war.

When Messara lobbied the NSW government for tax parity, it took him forever to get it, and even then, the tax concessions were phased out slowly over five years. But it was a landmark win for Racing NSW, and for his perseverance and guile, it was the part of the reason Messara received his Heroic Award, Member of the Order of Australia, and more recently Longines IFHA International Award of Merit. They are three of six big awards he has received – all for racing.

In New Zealand, we haven’t had the luxury of a Messara or a CEO of the calibre of Peter V’landys. But when examining the long-list of racing ministers, it can be safely said that Peters is the only one to have delivered significant tangible benefits, and he has done it in both his terms as Minister of Racing.

In his first stint, 2005 to 2008, he repealed a racing tax which had immediate benefits of $33 million annually and today continues to benefit the industry to the tune of $65 million annually. The tragedy of that gain is that most of the money has been used to mushroom the NZRB gravy-train rather than filter through to needy industry stakeholders.

Having read the Cabinet papers several times since their release over a month ago, it’s was easy to convince yourself racing would be getting more in this announcement than subsequently received. But that assertion was based on the number of budget-sensitive redactions over the three Cabinet papers which numbered 31, and then an overly optimistic reviewer.

Two years ago, Winston talked about the battles he had with Treasury over various issues for racing, and it appears to have been no different this time. In Cabinet Paper No 1 it seems evident that Treasury has little regard for the racing industry. Treasury was just one of many government bureaucracies consulted to complete the suite of Cabinet Papers which also included the State Sector Commission, Inland Revenue Department, Ministry of Foreign Affairs and Trade, Ministry of Health, Te Puni Kokiri, Ministry of Justice, Sport New Zealand and Ministry of Primary Industries.

Treasury came up with all sorts of hurdles and was negative. It talked about, “significant regulatory and financial implications for the Crown; the risks relating to greater gambling harms as a result of the proposals, including any wider impacts on wellbeing; the impacts on New Zealand consumers (gamblers), including whether they will face higher or lower costs; and the impact on the financial position of the New Zealand Racing Board.”

The last one is a beauty – indicating empathy between those two organisations. If you are worried about the financial impact on NZRB but are oblivious about the plight of the racing stakeholders then, “Houston, we have a problem.”

Politicians do deals to get things rubber-stamped and although no evidence has been put forth to suggest the Minister had to concede ground on getting the betting levy eliminated, the fact that it has to be phased out over three years suggests it was hardly likely to be in the Minister’s plan.

Quite the opposite. In the Executive Summary of Cabinet Paper 1, it talks about “the immediate need for supplementary revenue; an urgent need for reform; financial viability from a commercial perspective; and a requirement for bold and deliberate decision-making.”

The Minister understands the urgency for racing’s plight but knows, at the same time, the legislation to right the ship long-term is attainable only through cumbersome and slow bureaucratic processes. We are getting closer though – only six weeks away from the of Bill No. 1 coming before Parliament if MAC and DIA collectively keep to their tight schedule.

Consider the impact of the two Bills. With the collection of racefields and Point Of Consumption (POC) levy, $30 million a year will come back to racing – revenue not previously collected. Australia started mustering this tax in 2008, and that’s one reason we have been left behind – all having resulted from the work of people like V’landys and Messara.

Add to that the savings derived from outsourcing the TAB and its subsidiaries such as broadcasting – a further $70 million a year. Total $100 million back to the codes above what they were getting and the feasibility of Messara’s claim of doubling stakes becomes a reality.

That doesn’t take into account the massive up-front, lump sum fee at outsourcing negotiation time, which is money that could go back into badly needed infrastructure upgrading of facilities at racecourses.

To manage it correctly requires a fundamental change of thinking at an administrative level; a more business-like approach which has been AWOL at NZRB.

Whatever happened to the plain, simple logic of good, sensible business practice? The two components of income and expenses. If your income exceeds your expenses, then you make a profit. If the income reduces for whatever reason, the most controllable component in business is the expenses, and so you cut your cloth accordingly.

That basic rule-of-thumb is unknown at NZRB. The decline in profit has coincided with increased expenses, and it’s been going on for a long, long time. It’s called ‘denialism’ which is a psychological condition of human behavior.

Denialism is when a person or group of people avoid reality as a way to avoid a psychologically uncomfortable truth. It occurs when a seemingly intelligent and sane adult vehemently denies truths despite a body of irrefutable data. That’s what’s been happening at NZRB.

It’s either denialism or when you have no skin in the game you just don’t care. Take the recent round of NZRB Industry Conversations, as they have been calling them, as an example. Last week it was Hastings, and next week it will be Riccarton.  The salaries of the three executives involved probably totals $1.2 million or around $5,000 a day. Auxiliary expenses such as airfares, transfers, lunches, dinners, accommodation if required, and anything else, could easily bring it up to $8,000 or $9,000 per day.

They are preaching for little over an hour to a mainly elderly group of around 30 people, half of whom have come for a cup of tea and sausage roll FOC. The other half are mainly retirees with a genuine racing interest – few trainers or working participants can get along in the middle of the day.

The question is, what quantifiable return is racing to get for this expenditure – the algorithm to measure it doesn’t exist – this industry needs a ‘nonsense to nonagenarian’ meter – it would have gone off the scale!  As well, no apparent concern about the wastage of industry money is in evidence from either the protagonists or the dozing nonagenarians.

The culture will be changing, though. RITA will get the Messara Report done and dusted inside a year, and when that happens, the industry will have a spring in its step that’s been missing for years.

Racing’s livewires ‘Boys Get Paid’ will be out in force making their presence felt and redefining the standards for the enjoyment of racing – Luke has posted his debut blog here on this site today and will regularly contribute as we wait and hope for the emergence of a new racing weekly. Onwards and upwards.

So he got a tax break that's worth 65 mill a year in the mid noughties, so where has that extra money gone year after year . So before that date racing didn't have that flow of extra money . But it's worse now than turn of century. I would be a bit sceptical at figures plucked out like that , racing 65 million a year better than 2004 , no it is not .

Share this post


Link to post
Share on other sites
2 hours ago, Hangfire said:

Winston continues to deliver for Racing! The latest industry update from Brian Delore below:

Winston gets the betting duty back for racing as promised

by Brian de Lore
Published 17th May 2019  www.theoptimist.co.nz

Racing Minister Winston Peters delivered another piece of the racing industry jigsaw puzzle solution this morning at Karaka when he announced his government was repealing the betting levy for racing as part of Budget 2019.

In his speech to an attentive group of industry participants, he said: “As Messara pointed out, the New Zealand Racing industry could and should be performing at a comparative level to other jurisdictions – for example, as in Australia. 

“For this reason, the Government will repeal the current betting levy that is taken from racing and sporting gambling profits. By repealing the levy, this money will no longer flow to the Crown – it will instead be retained by the racing industry for the development of the racing industry.

“The funds will be distributed to the racing and sporting sectors, with part of the funds to be set aside to support a reduction in gambling harm initiatives. This is not small change,” emphasised Peters. “This levy represents four percent of betting profits, and in 2018, it amounted to approximately $13.9 million.

“The levy will be progressively reduced over three years until it is phased out entirely,” he said, but surprisingly his speech made no mention of either a synthetic or all-weather track for Cambridge or the personnel make-up of RITA which replaces NZRB on July 1st. Those announcements are still pending.

Some racing pundits will be disappointed about the three-year phasing out time, instead of it coming back 100 percent immediately, but remember that all these concessions the Minister gains for racing require negotiation with Treasury with whom Peters has been seemingly fighting the 100-year war.

When Messara lobbied the NSW government for tax parity, it took him forever to get it, and even then, the tax concessions were phased out slowly over five years. But it was a landmark win for Racing NSW, and for his perseverance and guile, it was the part of the reason Messara received his Heroic Award, Member of the Order of Australia, and more recently Longines IFHA International Award of Merit. They are three of six big awards he has received – all for racing.

In New Zealand, we haven’t had the luxury of a Messara or a CEO of the calibre of Peter V’landys. But when examining the long-list of racing ministers, it can be safely said that Peters is the only one to have delivered significant tangible benefits, and he has done it in both his terms as Minister of Racing.

In his first stint, 2005 to 2008, he repealed a racing tax which had immediate benefits of $33 million annually and today continues to benefit the industry to the tune of $65 million annually. The tragedy of that gain is that most of the money has been used to mushroom the NZRB gravy-train rather than filter through to needy industry stakeholders.

Having read the Cabinet papers several times since their release over a month ago, it’s was easy to convince yourself racing would be getting more in this announcement than subsequently received. But that assertion was based on the number of budget-sensitive redactions over the three Cabinet papers which numbered 31, and then an overly optimistic reviewer.

Two years ago, Winston talked about the battles he had with Treasury over various issues for racing, and it appears to have been no different this time. In Cabinet Paper No 1 it seems evident that Treasury has little regard for the racing industry. Treasury was just one of many government bureaucracies consulted to complete the suite of Cabinet Papers which also included the State Sector Commission, Inland Revenue Department, Ministry of Foreign Affairs and Trade, Ministry of Health, Te Puni Kokiri, Ministry of Justice, Sport New Zealand and Ministry of Primary Industries.

Treasury came up with all sorts of hurdles and was negative. It talked about, “significant regulatory and financial implications for the Crown; the risks relating to greater gambling harms as a result of the proposals, including any wider impacts on wellbeing; the impacts on New Zealand consumers (gamblers), including whether they will face higher or lower costs; and the impact on the financial position of the New Zealand Racing Board.”

The last one is a beauty – indicating empathy between those two organisations. If you are worried about the financial impact on NZRB but are oblivious about the plight of the racing stakeholders then, “Houston, we have a problem.”

Politicians do deals to get things rubber-stamped and although no evidence has been put forth to suggest the Minister had to concede ground on getting the betting levy eliminated, the fact that it has to be phased out over three years suggests it was hardly likely to be in the Minister’s plan.

Quite the opposite. In the Executive Summary of Cabinet Paper 1, it talks about “the immediate need for supplementary revenue; an urgent need for reform; financial viability from a commercial perspective; and a requirement for bold and deliberate decision-making.”

The Minister understands the urgency for racing’s plight but knows, at the same time, the legislation to right the ship long-term is attainable only through cumbersome and slow bureaucratic processes. We are getting closer though – only six weeks away from the of Bill No. 1 coming before Parliament if MAC and DIA collectively keep to their tight schedule.

Consider the impact of the two Bills. With the collection of racefields and Point Of Consumption (POC) levy, $30 million a year will come back to racing – revenue not previously collected. Australia started mustering this tax in 2008, and that’s one reason we have been left behind – all having resulted from the work of people like V’landys and Messara.

Add to that the savings derived from outsourcing the TAB and its subsidiaries such as broadcasting – a further $70 million a year. Total $100 million back to the codes above what they were getting and the feasibility of Messara’s claim of doubling stakes becomes a reality.

That doesn’t take into account the massive up-front, lump sum fee at outsourcing negotiation time, which is money that could go back into badly needed infrastructure upgrading of facilities at racecourses.

To manage it correctly requires a fundamental change of thinking at an administrative level; a more business-like approach which has been AWOL at NZRB.

Whatever happened to the plain, simple logic of good, sensible business practice? The two components of income and expenses. If your income exceeds your expenses, then you make a profit. If the income reduces for whatever reason, the most controllable component in business is the expenses, and so you cut your cloth accordingly.

That basic rule-of-thumb is unknown at NZRB. The decline in profit has coincided with increased expenses, and it’s been going on for a long, long time. It’s called ‘denialism’ which is a psychological condition of human behavior.

Denialism is when a person or group of people avoid reality as a way to avoid a psychologically uncomfortable truth. It occurs when a seemingly intelligent and sane adult vehemently denies truths despite a body of irrefutable data. That’s what’s been happening at NZRB.

It’s either denialism or when you have no skin in the game you just don’t care. Take the recent round of NZRB Industry Conversations, as they have been calling them, as an example. Last week it was Hastings, and next week it will be Riccarton.  The salaries of the three executives involved probably totals $1.2 million or around $5,000 a day. Auxiliary expenses such as airfares, transfers, lunches, dinners, accommodation if required, and anything else, could easily bring it up to $8,000 or $9,000 per day.

They are preaching for little over an hour to a mainly elderly group of around 30 people, half of whom have come for a cup of tea and sausage roll FOC. The other half are mainly retirees with a genuine racing interest – few trainers or working participants can get along in the middle of the day.

The question is, what quantifiable return is racing to get for this expenditure – the algorithm to measure it doesn’t exist – this industry needs a ‘nonsense to nonagenarian’ meter – it would have gone off the scale!  As well, no apparent concern about the wastage of industry money is in evidence from either the protagonists or the dozing nonagenarians.

The culture will be changing, though. RITA will get the Messara Report done and dusted inside a year, and when that happens, the industry will have a spring in its step that’s been missing for years.

Racing’s livewires ‘Boys Get Paid’ will be out in force making their presence felt and redefining the standards for the enjoyment of racing – Luke has posted his debut blog here on this site today and will regularly contribute as we wait and hope for the emergence of a new racing weekly. Onwards and upwards.

Typical Winston , it's always some one else's fault . ''Two years ago, Winston talked about the battles he had with Treasury over various issues for racing,''  IT'S THERE FAULT  . 

'' Treasury was just one of many government bureaucracies consulted to complete the suite of Cabinet Papers which also included the State Sector Commission, Inland Revenue Department, Ministry of Foreign Affairs and Trade, Ministry of Health, Te Puni Kokiri, Ministry of Justice, Sport New Zealand and Ministry of Primary Industries''.

Remind me again , who delayed race fields?  and who is the minister , who's the actual boss , that's right it's Winston .

AND this , Isn't this RB strategy ?? ,  '' Consider the impact of the two Bills. With the collection of race fields and Point Of Consumption (POC) levy, $30 million a year will come back to racing – revenue not previously collected. Australia started mustering this tax in 2008, and that’s one reason we have been left behind  .  Add to that the savings derived from outsourcing the TAB and its subsidiaries such as broadcasting – a further $70 million a year. Total $100 million back to the codes above what they were getting'  '''  .  So are we now saying the  RB has an excellent  strategy ??

And this , sounds like a typical sample of midweek race day attendees , if delays continue the problems will just die away .  

'' They are preaching for little over an hour to a mainly elderly group of around 30 people, half of whom have come for a cup of tea and sausage roll FOC. The other half are mainly retirees with a genuine racing interest – few trainers or working participants can get along in the middle of the day. ''

 

Share this post


Link to post
Share on other sites
1 minute ago, gubellini said:

flockofewes2 this betting levy largesse will not go back into stakes. More likely to go into Rita salaries and expenses. 

that matters not...Winston has come up with millions for racing over the years...no other politician has.

Share this post


Link to post
Share on other sites
19 hours ago, flockofewes2 said:

that matters not...Winston has come up with millions for racing over the years...no other politician has.

By fleecing the taxpayer of which I am one, instead of supporting the industry to develop its own sustainably funded business. And to date all the funds pilfered from taxpayers have been wasted on stakes and expenses. Millions down the drain. Time it stopped.

Share this post


Link to post
Share on other sites
2 hours ago, Leggy said:

By fleecing the taxpayer of which I am one, instead of supporting the industry to develop its own sustainably funded business. And to date all the funds pilfered from taxpayers have been wasted on stakes and expenses. Millions down the drain. Time it stopped.

Pilfered from taxpayers ?, give us a break , hell this lot are happy to toss millions down the drain , tax and spent , we know better how your money.

Take education for example , $50 million blown on free education , result  , less students and what's so bad about this is if these students do learn and not just get pissed then their qualifications will enable them to shaft the rest of us with excessive charges . At least racing people have to take a chance with their own money  to succeed . 

Time to crack down many different , especially  education subsidies that create a situation that enable those who are subsidised to charge the rest of us massive premiums for their services . 

Share this post


Link to post
Share on other sites
6 minutes ago, tripple alliance said:

Pilfered from taxpayers ?, give us a break , hell this lot are happy to toss millions down the drain , tax and spent , we know better how your money.

Take education for example , $50 million blown on free education , result  , less students and what's so bad about this is if these students do learn and not just get pissed then their qualifications will enable them to shaft the rest of us with excessive charges . At least racing people have to take a chance with their own money  to succeed . 

Time to crack down many different , especially  education subsidies that create a situation that enable those who are subsidised to charge the rest of us massive premiums for their services . 

Going to be a big bill to pay down the track , does appear to be a lot of spending . Where the money is coming from I have no idea but rest assured the waged earner will have a share of the bill with pretty much sweet FA benefit .

Share this post


Link to post
Share on other sites

Surely the RITA salaries etc aren't going to be added on top of everything we already have. I thought the idea was to eliminate a lot of the waste and cull out all the non performers on big salaries.

I must admit, my big worry is the plan to appoint lots of people with "change" skills. So once again , any knowledge, interest and skills in the racing area isn't considered all that relevant.

Personally, I think someone with racing knowledge could easily learn the other skills desired, whereas someone with 'other" skills would struggle to quickly learn to have a passion for racing.

Share this post


Link to post
Share on other sites

The main thing is to have a “LEADER”. The Leader can have Managers, FC’s, Handicappers, etc etc. but the main thing is to have someone who can lead. The person doesn’t have to be a know all and he/she can employ their weakness’s. 

Share this post


Link to post
Share on other sites
46 minutes ago, Trump said:

The main thing is to have a “LEADER”. The Leader can have Managers, FC’s, Handicappers, etc etc. but the main thing is to have someone who can lead. The person doesn’t have to be a know all and he/she can employ their weakness’s. 

Hasn't worked too well so far.

Share this post


Link to post
Share on other sites
10 hours ago, tripple alliance said:

Pilfered from taxpayers ?, give us a break , hell this lot are happy to toss millions down the drain , tax and spent , we know better how your money.

Take education for example , $50 million blown on free education , result  , less students and what's so bad about this is if these students do learn and not just get pissed then their qualifications will enable them to shaft the rest of us with excessive charges . At least racing people have to take a chance with their own money  to succeed . 

Time to crack down many different , especially  education subsidies that create a situation that enable those who are subsidised to charge the rest of us massive premiums for their services . 

Maybe, and this is just another chunk of money that will have to be found elsewhere. I also wonder what the response will be from the other betting duty payers, casinos and lotteries, now racing is exempted.

As far as RITA is concerned, not a bad idea to have change expertise on any board. As usual though, there is no mention of wagering expertise being sought. Since that is their core business would you not think that should be a priority?

Share this post


Link to post
Share on other sites
17 hours ago, Leggy said:

By fleecing the taxpayer of which I am one, instead of supporting the industry to develop its own sustainably funded business. And to date all the funds pilfered from taxpayers have been wasted on stakes and expenses. Millions down the drain. Time it stopped.

the taxpayer ALWAYS PAYS.

 

Whether its 11mil for an Arab shiek or 30 mil for a multi national like Rio Tinto.

Share this post


Link to post
Share on other sites
5 hours ago, flockofewes2 said:

the taxpayer ALWAYS PAYS.

 

Whether its 11mil for an Arab shiek or 30 mil for a multi national like Rio Tinto.

You do realise the so called rich do pay the lions share of tax . Lets say someone buys a $100,000 yearling PLUS GST  , that's 15K gst from money that's already been taxed . The rich also buy more expensive new cars PLUS GST verses the $10 K car including GST the lower income earner pays . The better of also bankroll racing to a large extent so lets not bite the hand that feeds our industry .

Now keep in mind those who are the lower earners on this chart also pick up support from the government , the so called rich are propping up a lot of people .

Annual individual
taxable income ($)
Number of people Tax paid
(000) % ($m) %
Zero  367 10  0 0
1 – 10,000  333 9  150 0
10,001 – 20,000  616 16 1,150 3
20,001 – 30,000  562 15 1,860 5
30,001 – 40,000  342 9 1,760 5
40,001 – 50,000  327 9 2,240 6
50,001 – 60,000  296 8 2,810 8
60,001 – 70,000  212 6 2,640 8
70,001 – 80,000  180 5 2,790 8
80,001 – 90,000  126 3 2,370 7
90,001 – 100,000  95 3 2,100 6
100,001 – 125,000  117 3 3,280 9
125,001 – 150,000  78 2 2,790 8
150,001+

Share this post


Link to post
Share on other sites
1 hour ago, tripple alliance said:

You do realise the so called rich do pay the lions share of tax . Lets say someone buys a $100,000 yearling PLUS GST  , that's 15K gst from money that's already been taxed . The rich also buy more expensive new cars PLUS GST verses the $10 K car including GST the lower income earner pays . The better of also bankroll racing to a large extent so lets not bite the hand that feeds our industry .

Now keep in mind those who are the lower earners on this chart also pick up support from the government , the so called rich are propping up a lot of people .

Annual individual
taxable income ($)
Number of people Tax paid
(000) % ($m) %
Zero  367 10  0 0
1 – 10,000  333 9  150 0
10,001 – 20,000  616 16 1,150 3
20,001 – 30,000  562 15 1,860 5
30,001 – 40,000  342 9 1,760 5
40,001 – 50,000  327 9 2,240 6
50,001 – 60,000  296 8 2,810 8
60,001 – 70,000  212 6 2,640 8
70,001 – 80,000  180 5 2,790 8
80,001 – 90,000  126 3 2,370 7
90,001 – 100,000  95 3 2,100 6
100,001 – 125,000  117 3 3,280 9
125,001 – 150,000  78 2 2,790 8
150,001+

I think you will find most rich are clever and use tax loopholes , maybe that new car is brought through a company which then gets depreciation , get refunds and all manner of cash backs.  Waged earner gets FA back and pays for everything .As everywhere those at top doing well , those at bottom looked after and those in middle pay for the lot of them up and down.

Share this post


Link to post
Share on other sites
40 minutes ago, Red Rum said:

I think you will find most rich are clever and use tax loopholes , maybe that new car is brought through a company which then gets depreciation , get refunds and all manner of cash backs.  Waged earner gets FA back and pays for everything .As everywhere those at top doing well , those at bottom looked after and those in middle pay for the lot of them up and down.

Well I guess the statement , the rich are cleaver is true , that's why they have succeeded , their efforts are well rewarded because they are cleaver  , if the loopholes are there then why not use them ,  this isn't relevant .  The fact is they high earners are paying most of the tax .

You might be right about medium wage earners who claim little and pay for everything but low earners effectively pay NO  tax , ZERO , is that fair to Top and Medium earners ? . In the racing world I suspect many don't much pay tax , certainly any trainer with a business will be claiming all expenses and won't be paying tax , a good argument to boost racing incomes .

Share this post


Link to post
Share on other sites

You've all got you heads so far up some space that the black hole couldn't recognise where.

All the larger earners do is follow the rules that a bunch of bureaucrats and lawyers have stated are the rules. These rules are available to everyone, open source and transparent. This bullshit about paying tax is a lot of crap. Our issue is that we have had people who haven't known what the puzzle is, run racing. We continue to have that. We have poor leadership, poor middle management and poor constituent participants who are not able to express themselves correctly that leads to conflict, inefficiency and chaos. If you read most of the responses in this thread you will realise that most of you haven't thought this through and you're reacting from only your own personal perspectives.

Leggy is right though....no mention that a member of RITA needs to be an expert in technology and gambling....big mistake

Share this post


Link to post
Share on other sites
1 hour ago, tripple alliance said:

Well I guess the statement , the rich are cleaver is true , that's why they have succeeded , their efforts are well rewarded because they are cleaver  , if the loopholes are there then why not use them ,  this isn't relevant .  The fact is they high earners are paying most of the tax .

You might be right about medium wage earners who claim little and pay for everything but low earners effectively pay NO  tax , ZERO , is that fair to Top and Medium earners ? . In the racing world I suspect many don't much pay tax , certainly any trainer with a business will be claiming all expenses and won't be paying tax , a good argument to boost racing incomes .

the rich are not clever' at all.

The system of  private central banking maintains the status quo of  the few benefiting at the expense of the many.

 

Privelege and luck are the important factors.

The uber wealthy do not pay tax.Thats for the 'little people'.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now