On Wednesday, October 10, the Province of Saskatchewan announced that, effective March 31, 2013, it will no longer be taking the 10 per cent tax it currently collects on horse-racing wagers.
A release by the province states that $857,000 in pari-mutuel tax was collected on the wagers in 2011.
"Eliminating this tax will allow the province's horse-racing industry to keep a larger portion of the revenues generated through wagers," Donna Harpauer, the minister responsible for Saskatchewan Liquor and Gaming Authority, was quoted as saying in the release. "These additional revenues will benefit the tracks that hold live horse racing in the province."
In a Trot Radio exclusive earlier this week, Norm Borg got both Yorkton GM Shaun Morin and SSHA President Glenn LeDrew on the other end of his line to discuss the current state of the provincial horse-racing industry. To listen to the Trot Radio episode, click here.
The contents of the Province of Saskatchewan's release on the subject appear below.
GOVERNMENT ELIMINATES PARI-MUTUEL TAX ON HORSE RACING WAGERS
The provincial government is eliminating the pari-mutuel tax it collects on horse racing wagers effective March 31, 2013.
"Eliminating this tax will allow the province's horse racing industry to keep a larger portion of the revenues generated through wagers," Minister responsible for Saskatchewan Liquor and Gaming Authority Donna Harpauer said. "These additional revenues will benefit the tracks that hold live horse racing in the province."
The pari-mutuel tax is a 10 per cent tax that is collected from each wager placed on horse racing in the province. The tax is applied to wagers made at Saskatchewan tracks and through wagering on horse races conducted outside of Saskatchewan. Last year, $857,000 in pari-mutuel tax was collected.
"Our organization is pleased that the government has listened to our concerns by eliminating this tax," Saskatoon Prairieland Park Corporation CEO (operators of Marquis Downs) Mark Regier said. "Horse racing has been a fixture in Saskatoon for more than 40 years and the elimination of this tax creates a more positive business environment that will allow us to continue to provide exciting racing entertainment."