GST for the racing industry

About GST for the racing industry

This guide explains what owners, lessees, jockeys, drivers, trainers and breeders of racing animals need to do to meet their goods and services tax (GST) obligations.

Terms we use Some terms used in this guide may be new to you. They are explained in 'Definitions'. In this guide we use the term: racing bodies to describe racing boards, controlling bodies and/or individual race clubs   racing animals to describe thoroughbred and standard bred horses and greyhounds   sale and purchase to describe the GST terms supply and acquisition   GST credit to describe the term input tax credit. When we describe payments received or payments made, we are referring to the GST term consideration. For the purposes of this guide, we assume that racing bodies are registered for GST.