Ontario's horse racing industry is making headlines on a national news level, with representatives urging the federal government to level the playing field for this country's racehorse owners.
In a CTV News segment that aired on Friday, Oct. 16, racing industry participants discussed the tax breaks afforded to stateside horse owners, and why they would like to see those same incentives in Canada.
A tax break included in U.S. President Donald Trump's Big Beautiful Bill — "The largest tax cut in American history," according to Trump — now allows racehorse buyers in the U.S. to deduct the full purchase price of a racehorse from their taxes. Section 31 of Canada's Income Tax Act restricts the amount a racehorse owner can write off to a maximum of $17,500, as Canada's tax code views horse owners as part-time hobby farmers.
"We're a business. We're a commercial enterprise," Mark Halloran, the managing director of Canuck Racing Club, told CTV News. According to Halloran, the all-Canadian Thoroughbred horse ownership group has no choice but to open a stateside affiliate. "Within the next couple weeks, we'll be operating in the U.S."
"It's not a level playing field at all," said Canadian Horse Racing Hall of Famer Glenn Sikura. "I'm sure we've seen thousands of jobs lost already. "
Horse supply in Canada is an issue for both the Standardbred and Thoroughbred breeds. And according to Woodbine Entertainment's Executive Vice President of Racing, Bill Ford, allowing horse owners in Canada the same playing field as their stateside counterparts would help with horse supply and job opportunities.
"We have to stop the flow of horses to the U.S. and never coming back," said Ford. "There's a way to do it. It's not very complicated. Address Section 31."
The full CTV News segment is available below.
(Standardbred Canada)