Take A Look At These Tax Rates For Horseracing

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  • jjgold
    SBR Aristocracy
    • 07-20-05
    • 388179

    #1
    Take A Look At These Tax Rates For Horseracing
    Current tax rates on horse racing
    <table border="1" cellpadding="0" cellspacing="0"><tbody><tr> <td valign="top" width="191"> Hong Kong
    </td> <td valign="top" width="152"> 72.5% - 75%
    </td> </tr> <tr> <td valign="top" width="191"> Singapore
    </td> <td valign="top" width="152"> 25%
    </td> </tr> <tr> <td valign="top" width="191"> Australia
    </td> <td valign="top" width="152"> 28%
    </td> </tr> <tr> <td valign="top" width="191"> New Zealand
    </td> <td valign="top" width="152"> 16%
    </td> </tr> <tr> <td valign="top" width="191"> UK
    </td> <td valign="top" width="152"> 15%
    </td> </tr> <tr> <td valign="top" width="191"> Macau
    </td> <td valign="top" width="152"> 0%
    </td></tr></tbody></table>
  • str
    SBR Posting Legend
    • 01-12-09
    • 11786

    #2
    Is this tax on gambling winnings?

    If so, offsetting those winnings are not that hard to prove.
    Comment
    • jjgold
      SBR Aristocracy
      • 07-20-05
      • 388179

      #3
      I do not know

      I think its what Gov't takes from the companies
      Comment
      • str
        SBR Posting Legend
        • 01-12-09
        • 11786

        #4
        It could be the rate that owners are taxed on purse winnings.

        If so, the rates over 15% are brutal.

        Typically they will not allow for expenses off the top.

        At least that is what they try and push for.

        New Jersey used to try and play that game with me being out of state.

        It was a tough battle to fight it off.
        Comment
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