✨ Thoroughbred Racing Rules
17 MAY 2013
NEW ZEALAND GAZETTE, No. 58
1709
horse that has finished in a stake-bearing position in that Race shall be allocated to the then Owner(s) or lessee(s) (as the case may be) or its Racing Manager on their behalf, the Trainer and the Rider, as follows:
| Allocation of Total Stakes for a stake-bearing position in a Race |
|---|
| Recipient |
| Owner or lessee (as applicable) |
| Trainer |
| Rider |
(3) In respect of a non-returnable prize NZTR shall pay, on behalf of a Club, the goods and services tax (if applicable) on the value of such prize to the applicable prize winner Owner or lessee (as the case may be).
(4) In respect of a returnable prize neither the Club nor NZTR, on the Club’s behalf or otherwise, shall pay goods and services tax.
(5) Notwithstanding anything to the contrary expressed or implied elsewhere in these Rules, a sum of money credited to a horse in respect of a particular Race shall not be deemed to be stakes unless such sum is so credited solely on account of such horse having been placed by the Judge (or, in the case of an inquiry resulting in a change of placings, by the Judicial Committee) in a stake bearing place in that Race. A sum which is intended to be credited to a horse in a particular Race or paid to its Owner or lessee (as the case may be) merely on account of that horse having started in a Race shall not be included in the stake advertised for the Race and such sum, when credited or paid, shall not be deemed to be stakes.
504 Save as provided elsewhere in these Rules, a deduction shall not be made from the advertised stakes for a Race.
505 (1) The Owner or lessee (as the case may be) or (where applicable) the Racing Manager, of every horse shall notify NZTR, in writing on the appropriate horse registration form referred to in Rule 406, whether the Owner or lessee (as the case may be) is or is not a person registered under the Goods and Services Tax Act 1985 and carrying on a taxable activity within the meaning of that Act in respect of that horse and, if he is so registered, the Owner’s or lessee’s (as the case may be) goods and services tax registration number.
(2) Subject to the provisions of sub-Rule (4) of this Rule 505A, all winnings and other stakes or prizes and any applicable goods and services tax shall be paid over and delivered respectively by NZTR, on behalf of the Club, to the Owner or lessee (as the case may be) within 45 days after receipt by NZTR of the notification referred to in sub-Rule (1) of this Rule unless an inquiry, investigation, proceeding or appeal affecting or which may affect them is being conducted or held or is pending. NZTR, on behalf of a Club, shall pay to the Owners or lessees of a horse, or its Racing Manager on the Owners or lessees behalf, a sum of money, being 80% or 85% (as applicable, in accordance with Rule 503(2)) of the gross stakes (exclusive of trophies, prizes and the value of any awards or rights) credited to that horse for a particular Race while owned by such Owners or lessees (as the case may be), less any amount which NZTR, on behalf of a Club, is legally obliged to deduct therefrom for tax, within 45 days after the conclusion of that Race Meeting except that where the sum of money or any part thereof is in doubt by reason of an inquiry held or pending, payment of the sum
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NZ Gazette 2013, No 58
✨ LLM interpretation of page content
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Amendments to the Rules of Thoroughbred Racing
(continued from previous page)
🏭 Trade, Customs & IndustryThoroughbred Racing, Racing Act 2003, Rule Amendment, GST, Inland Revenue, Court Determination