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Back to listsTax Deductions On Various Pools At Btc Tote
By Mad Max | 01-Jul-2017Following are the rates of deductions on BTC tote from today.
WIN 26%
Place 28%
SHP 30%
THP 30%
Forecast 35%
Quinella 35%
Trinella 35%
Treble Pool 45%
Jackpot Pool 45%
Since GST is 28% it is difficult to understand why 2% less on Win Pool? Why the Club instead of adding their commission, reduced 2%..?
From Place Pools BTC added 28+2% commission.
FC, QN, TNL added commission is 7%
From Treble Pool and Jackpot they added 17% commission.
The most important thing is why the club reduced 2% from the Whin Pool whereas the GST fixed is 28%? No Club can do it on their own, when the matter is related to the Tax Department/the central government. Then why this?
I think the club is hiding something from the racing public. Most probably they might have got an assurance from the government/tax department that the GST on horseracing will be reduced to 18%. And the Club is hiding this from the public and taxing the public to the optimum so that they need not do any revision or any reprieve to the racing public when they get the clarifications from the Tax Tribunal.
I reserve my opinion, though I strongly believe the tax cut above published by the Club is based on some assurance from the higher authorities, and it can be more fully explained as follows:-
WIN: GST 18% + 8% Club Commission = 26%
Place: GST 18% + 10% Club Commission = 28%
SHP: GST 18% + 12% Club Commission = 30%
THP: GST 18% + 12% Club Commission = 30%
Forecast: GST 18% + 17% Club Commission = 35%
Quinella: GST 18% + 17% Club Commission = 35%
Trinella: GST 18% + 17% Club Commission = 35%
Treble Pool: GST 18% + 27% Club Commission = 45%
Jackpot Pool: GST 18% + 27% Club Commission = 45%
Can the Horse Talkers agree to my view point?