Trainers relieved at tax ruling on horse flu compensation
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Queensland Harness Racing says a decision by the tax office not to tax horse trainers on horse flu compensation payments will save the industry millions.
The Australian Taxation Office (ATO) has confirmed hobby trainers will not have to pay tax on the daily assistance payment, after Queensland and New South Wales racing organisations fought to have it dropped.
Horse trainers have to pass the cost onto owners, and Queensland Harness Racing CEO Andrew Kelly says they would have been paying tax on money they did not have.
"It's been a very important decision for many hobbyists within the racing industry," he said.
"Eighty-seven per cent of our participants are structured in a hobbyist manner, so this is an important decision to them particularly come the 30th of June."
