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ACT will scrap all gaming taxes

ACT will scrap all gaming taxes

Ken Shirley Thursday,

16 June 2005 Press Releases - Taxation

ACT MP Ken Shirley delivered good news to the New Zealand racing industry by announcing that ACT will abolish all gaming taxes.

Mr Shirley made the announcement in a speech to the Waikato Thoroughbred Breeders Association in Hamilton tonight.

“ACT recognises the importance of the racing industry to the New Zealand economy,” Mr Shirley said. “It contributes $1.5 billion a year to the economy, supports 18,300 full-time jobs and exports $130 million worth of horses.

“ACT supports the analysis of the McLeod Report, which concluded that the present levels of taxation on gaming are indefensible. The report went on to say that the current excise and duty regime couldn’t be justified on conventional tax policy grounds.

“Unlike the two tired, old parties, ACT doesn’t support sin taxes.

“We support the McLeod Report because it totally removes the anomalies and unfairness associated with gaming and racing taxation.

“The removal of gaming taxes, coupled with ACT’s low tax policy, offers far more than any other party in strengthing the racing industry.

“A Party Vote for ACT is a vote for a stronger racing industry,” Mr Shirley said.

ENDS


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