British Medium (USA)

One of the most difficult and contentious tax matters in the horse breeding and racing industry is determining whether an activity is an “enterprise” for GST purposes.

The $5million Group I ATC Golden Slipper used to have a massive bearing on the 2YO sires list by earnings and whoever sired the winner was a moral to take Champion 2YO Sire honours, but with a proliferation of $1million juvenile races that is no longer the case.