Governments Big Share: Australian Racing Furnishes a Large Revenue to Help Relieve Taxation, Daily Racing Form, 1921-08-31


view raw text

GOVERNMENTS BIG SHARE Australian Racing Furnishes a Large Revenue to Help Relieve Taxation. Racing was a gold mine for the Now South Wales government during its recently closed financial year, its receipts from direct taxation being: Totalizator ,371,070 letting taxes 545,320 .Race course admission tax 589,100 Total ,505,490 The totalizator gave an increase of 55,920, and betting taxes 0,115, as compared with the previous year, but it must not be overlooked that the government Is now getting a higher percentage from the machine, and bookmakers are also contributing more than previously. The admission tax was only in operation nine months, so if race course attendances continue to increase ns they have done for a long time past, the government will be justified in looking forward to at least 50,000 from that Source for the current year. Over ,500,000 Is a termendous sum to get from supporters of racing, and makes one wonder how much the public of New South Wales put into the sport every year. It is they who supply the money for the various charges and taxes imposed on the bookmaker, as well as for the totalizator percentage that goes to the government and racing clubs. THE BETTING TURNOVER, In Sydney from July 1 of last year to June 30 of this the tote turnover in Sydney was over two and three-quarter millions, and it lias been computed that for each placed on the machine the bookmakers hold at least 5. This is possibly correct, and would mean well on toward 5,000,000 speculated at Sydneys race courses. Then there is shop-betting to be taken into consideration, and that also runs into a tremendous sum. Of course, it is in a great measure the same money being invested over and over again, with something rubbing off each time for the benefit of the government, totalizator and bookmaker. Considering the state does absolutely nothing for racing, its share is enormous. The greater portion of the ,505,490 was derived from Sydney, where the total attendance horses and ponies on any Saturday does not ex-reed 25.000. Itandwick has certainly attracted between SO.OOO and 90,000, but it is the Saturday regulars who provide most of the money received by the government. They arc certainly taxed heavily for the sport they favor, and it is to be hoped the government lias readied the limit in that direction. "Pilot" in Sydney Referee.

Persistent Link:
Local Identifier: drf1921083101_10_1
Library of Congress Record: