South Australian greyhound racing receive double the tax return from government
In a significant development for the greyhound racing industry in South Australia, the state government has announced its decision to double the return of betting operations tax revenue to the sector.
The three racing codes in the state, namely Racing South Australia (RSA), Greyhound Racing South Australia (GRSA), and Harness Racing South Australia (HRSA), have been informed of the government's decision to increase the tax revenue return from 10% to 20%.
This move is expected to have a positive impact on the greyhound racing industry in the state.
Starting from July 1 2023, a new funding model is set to be implemented and will be in effect for a period of four years.
Similar to the present model, the allocation of funds will be divided among the codes in proportion to their respective market shares.
The South Australian racing industry has been propelled to national competitiveness by the unwavering efforts of the three codes.
A crucial element in achieving this feat has been the return of tax income generated by racing.
The South Australian state government's recent increase in support for the industry has been warmly received by those involved, who view it as a positive development for a sector that is a major employer and economic contributor to the state.
GRSA is eager to showcase the potential of the recent increase in government funding.
They believe that this investment will yield significant benefits for the state, and they hope to leverage this success to secure additional funding in the future.