Tax Havens

Can a Racehorse Beat the ATO?

14 October 2019

The first tax issue to consider with owning a racehorse is whether you are operating as a hobby or a business. Generally, it is difficult to demonstrate to the ATO that you have a racing business unless it is associated with breeding or training activities and is of significant scale. The tax benefits of owning…

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"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"

- Bono: U2