It was fine for Phumelela to receive the tax benefit whilst fulfilling their mandate to take care of racing and ensuring that jobs were protected. Since it has transpired that tens of thousands of jobs have been lost across the industry and lately the company itself over the time of their involvement it is clear that tax breaks should not be supported. It is pretty obvious that racing is not getting any support outside of just making the wheels turn so i guess the chickens are coming home to roost.
Lets also have consideration for the "punter" whether is the 25% take out from the pool or the 6% tax on winnings the source is the "punters" money and remember this cash has already been tax ........
Well said Dave !! The Punters The Punters!!! Our income is taxed as we earn then those that spend on exotics lose another 25% before they start!!! Then I get brave and whether its 100 rand or 10 grand I have to to take the gamble on a horse which has not only to finish the race but win it as well. Heavens above it wins and we get all excited only to find that you only getting your cash back as it only pays one rand. So no profit just daylight f%@$ing robbery. They deserve everything they get. We must be crazy to continue to support this game. If only Puntets would completely boycott the tote for an entire month they might just open their eyes. On the other hand the gravy train just chugs along. Amazing.
Tony M is quite correct and de listing is the next alternative AND THE ONLY WAY OUT! If it should happen racing will end up with one body to run the sport. Hopefully i live long enough to be part of it !
What is really frightening is the amount of bad debt in the game ,spoke to my friend who is a farrier and he told me how much he is owed by certain trainers and ex trainers who have left the game and he has little chance of recovering it .
