Accetptance Fees

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This topic contains 1 reply, has 2 voices, and was last updated by avatar Neil Bennett 4 years, 3 months ago.

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    What do owners think of acceptance fees. I struggle to see the point in them. Owners pay a fee for starting that is refunded after the race. This does nothing to increase the stake. The only point in them that I can see is that it allows clubs to try to fool owners into thinking they are racing for more money than they actually are.
    If the fee’s were abolished and the race stakes reduced by the same amount it would actually increase the net stake available for distribution by the exact amount of g.s.t. that would be saved.
    Addington last financial year declared $280,000 revenue from acceptance fees, which means owners collectively paid $322,000. The difference being $42,000 g.s.t. that could have been left in owners pockets.

    Neil Bennett

    I agree that is would be good to reduce payments of GST.

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