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Advising Clients in the Thoroughbred Industry

Published on 21 Jun 2005 | Took place at Holiday Inn Adelaide, SA

This seminar focussed on the horse breeding and racing industry. The speakers covered a range of issues including:
- cases and rulings surrounding the hobby and business debate
- the treatment of animals as livestock or plant
- the CGT implications of disposals
- the GST impact on this industry from acquisitions to sales
- import and export issues
- the treatment of prize money and sponsorships.

Involvement in the thoroughbred industry through syndicates is a growing area and these seminar materials address issues relevant to different structures.

Individual sessions

Advising clients in the thoroughbred industry

Author(s):  Graeme SHEARD

This paper covers:

  • livestock provisions
  • tax treatment of outgoings
  • CGT and collectibles
  • CGT registers
  • GST and exports
  • GST and concept of enterprise
  • business or speculation
  • tax treatment of syndicates and individual syndicate members.

The paper was also presented by Colin Matthews and Kerri Parker at the 'Advising Clients in the Thoroughbred Industry' seminar held in Adelaide on 21 June 2005.

Materials from this session: