Betting Levy to be repealed

Media Release - Friday May 17

Racing Minister Winston Peters has announced a repeal of the betting levy (racing totalisator duty) currently paid by the racing industry to the Crown.

Winston Peters - image Trish DunnellPeters made the pre-Budget announcement when opening the New Zealand Bloodstock Karaka May Sale in Auckland on Friday.

Peters announced that payment of the levy to the Crown will be phased out over a three-year period, with freed-up funds to be redirected to the racing and sports sectors.The betting levy represents 4 percent of betting profits which amounted to $13.9 million in 2018.

"Redirecting the betting levy is a step towards revitalising of the racing industry. It was a recommendation of the Messara review of the racing industry, and was endorsed by the Ministerial Advisory Committee (MAC)," Peters said.

"The funds will be redistributed to the racing Codes and Sport New Zealand, with a proportion set aside to support the reduction of gambling harm.

"This change will provide an important source of revenue for industry investment decisions," Peters said.

"The racing industry plays a vital role in the New Zealand economy, having contributed $1.6 billion to the economy in 2016/17 whilst employing tens of thousands of New Zealanders, many of them young, and boosting New Zealand's exports.

"It is important that the industry is revitalised and placed on a sustainable footing for the future. Redirecting the betting levy funds is only one of a number of steps the government is undertaking."

Last month the Minister also announced a Government agreement to a stepped response to the Messara Report, introducing two new pieces of legislation to bring new governance arrangements and other sources of industry revenue. – NZ Racing Desk

Advertisment
More Reading...
$1.3million Snitzel Colt Ready to Fire on Debut for Te Akau
Mark Walker and Sam Bergerson are confident they have the young firepower to make an early impression in the first of the black type features at Pukekohe Park on Saturday.
Pinhook Winners 2024 NZB Ready to Run – Churchill Colt the Star
A record breaking NZB Ready to Run Sale this week at Karaka delivered plenty of pinhook success with 18 two year-olds selling for $300,000 or more above their yearling purchase price, so let’s take a look at some of the best of them.
Sires With Winners - Friday November 22
Here is the full list of 46 stallions which had winners throughout Australasia today with winners and result details.
Castelvecchio Out for Remainder of Season
Aeliana’s late charge into second place in the $1.5million Group I MRC Thousand Guineas last Saturday stamped her as the filly to follow out of the race, but it wasn’t quite enough to put her sire Castelvecchio to the top of the second season sires list and he is now out of service at Arrowfield following surgery last week.
Best On Breeding
The cerise, white crossed sashes and black cap of Bob Peters, Peter's Investments, may not be the once dominant force they have been for decades in Western Australian racing, but they are far from finished.
Ka Ying Rising connection draws Hayes team to Shamexpress at Karaka
With one of the world’s most exciting sprinters flying the flag for David Hayes in Hong Kong, it has been no surprise to see the trainer’s sons zeroing in on progeny of Windsor Park Stud stallion Shamexpress during the Ready to Run Sale at Karaka this week.
Catalogue Online for the Southern Hemisphere Session of the Tattersalls Online December Sale
The catalogue of initial entries for the Southern Hemisphere Session, an innovative collaboration between Tattersalls Online and Inglis Digital, has now been published on the Tattersalls Online website.
City of Troy Crowned 2024 Cartier European Horse of the Year
Outstanding Justify colt City of Troy was crowned Horse of the Year at the 2024 Cartier awards on Wednesday night in London at a star studded ceremony at the Dorchester Hotel.
Magic Millions 2025 Magazine Online
The 2025 Magic Millions magazine is now online with a great mix of gallery images, editorial and vendor profilies.
Halo Racing Reduction features in November (Late) catalogue
Shares in reigning G1 Caulfield Cup champion Duke de Sessa, G1 Toorak Hcp winner Attrition and tomorrow’s G1 Railway Stakes favourite Light Infantry Man headline an exciting Inglis Digital November (Late) Online Sale.