As I return from yet another visit to the QLD Magic Million sales, it occurred to me that it has been too long since I shared my insights as to what a new industry player should be mindful of, tax wise, before they commence a horse breeding and/or racing business.

The 2026 Magic Millions Yearling Sale was highlighted by 15 yearlings that sold for $1million or more which was two more than last year when just 13 hit the magic mark, but still considerably down on 2024 which saw 23 millionaires sold following on from 20 in 2023.