Key Queensland thoroughbred racing representative bodies signed off on an "explosive move" to initiate Cox Plate and Melbourne Cup day strike action "in retaliation to the code’s snubbing in last weekend’s state government point of consumption tax announcement," according to Nathan Exelby of the Brisbane COURIER-MAIL. Queensland introduced a point of consumption tax on Oct. 1, whereby bookmakers and wagering providers will be taxed 15% of all revenue they generate from Queensland-based customers. The 15% figure is "significantly higher" than the 8% and 10% that will be introduced on Jan. 1 by the respective Victorian and NSW governments. Estimates have the tax "hauling in" A$70M ($49.5M) to government coffers in its first year. The Queensland racing industry lobbied for a "significant cut," arguing money generated by racing should be invested back into the industry. But Treasurer Jackie Tradd announced last week that the industry would receive a one-off A$20M ($14M) grant for harness and greyhound infrastructure and a A$17.5M ($12.4M) "write-off" of an existing loan (COURIER-MAIL, 10/4).
