LOCAL horse racing could be set to profit from a decrease of betting taxes in NSW, according to Dubbo Turf Club president Michael Edwards.
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As reported in a Sydney newspaper leading racing figures, including Hall of Fame trainer John Hawkes and NSW racing commentator and buyer David Raphael called to bring taxes in line with other Australian states.
This was after NSW Labor leader Luke Foley promised to give the racing industry a tax cut in Labor's election campaign.
The Victorian government takes $1.28 from every $100 bet wagered, Queensland takes a mere 82c and the NSW government takes almost a third more, at $3.22 per $100 bet wagered.
As a result thoroughbred racing in NSW is almost $75 million a year worse off than its chief rival.
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Dubbo's Edwards said the current tax proposal is "a fair way off" and the decrease has been included in the Racing NSW planning meeting.
"It's a hell of a lot of a difference," he said.
"If Victoria can do it on that sort of take out than surely NSW can."
"It would have a huge impact on local racing and the chances of it happening is fairly high."
Reports suggest the tax decrease will likely increase the prize money for thoroughbred racing from $15,000 to $20,000.
The flow on effects for the decrease would likely stretch into an increase in jobs and a general boost for country racing, Edwards said.
"It should increase prize money, which will flow back to owners- more owners, more jockeys and more associated people into the industry," he said.
"This is a credit to Troy Grant because a significant portion of funding has gone into country racing."