Betting Levy to be repealed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.

Advertisement

"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...
Royal Ascot Day 5 – Runaway, Rising Empire and My Best Friend
After five spectacular days of racing, Royal Ascot is over with the finale overnight producing high drama with a runaway G1 winner, the rise of a racing empire and the first stakes horse for St Mark’s Basilica.
Bonny Grey Mare Wins G3 Strickland
Last December at Ascot, popular grey mare Admiration Express (My Admiration) nearly caused the upset result of the year when she charged home at odds of 100/1 in the G1 Northerly Stakes for second behind Victorian raider Light Infantry Man.
Sires With Winners - Saturday June 21
Here is the full list of 101 stallions which had winners throughout Australasia today with winners and result details.
Sires With Winners - Sunday June 22
Here is the full list of 76 stallions which had winners throughout Australasia today with winners and result details.
Waikato Stud Weanling Draft Showcases Super Stallions
After a phenomenal few months for Waikato Stud’s stallion roster, the world-renowned nursery will offer six select progeny of those high-flying sires at this week’s NZB National Weanling Sale at Karaka.
Highview Makes Welcome Return to Weanling Sale
Many of the vendors at this month’s NZB National Weanling Sale are familiar faces who are renowned for their quality drafts at this sale every year, but the 2025 edition also sees an old friend being welcomed back to the fold.
Aussie Bred HK G3 Double
A pair of Group III races were run at Sha Tin on Sunday with victory in the two last stakes races of the HK season both going to Aussie bred geldings Beauty Joy and Copartner Prance, who is a half-brother to Aquis based sire Kobayashi.
One to Watch – Scone
Kris Lees often sends a talented horse to the country to cast off maiden status and a two year-old Exceedance gelding did just that on debut at Scone on Monday.
Aussie Owned Filly Wins G1 Royal Ascot Coronation Stakes
Long shots were the order of the day at Royal Ascot on Day 4 and there was no bigger or better upset than the 33-1 shock winner of the Group I Coronation Stakes (1m) for three year-old fillies with the winner Cercene sired by Epsom Derby winner Australia and owned by Australian Shane Stafford.
One to Watch – Cranbourne
Second in the Group III VRC Maribyrnong Plate last year to Tycoon Star, this Cosmic Force colt made light work of a maiden at Cranbourne on Sunday when bolting away to win as he pleased.