Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Income - Exempt income

CW 47: TAB NZ and racing clubs

You could also call this:

“Tax exemptions for racing organisations and clubs”

You don’t have to pay tax on money earned by certain organisations involved in racing. These include TAB NZ, New Zealand Thoroughbred Racing, Harness Racing New Zealand, the New Zealand Greyhound Racing Association, the Racing Integrity Board, and Racing New Zealand.

Racing clubs also don’t have to pay tax on their earnings. A racing club is defined in section 5(1) of the Racing Industry Act 2020. However, this only applies if the club doesn’t use its money to make a profit for its members or anyone connected to its members.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1513281.

Topics:
Money and consumer rights > Taxes
Business > Industry rules
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Part C Income
Exempt income

CW 47TAB NZ and racing clubs

  1. An amount of income derived by any of the following bodies is exempt income:

  2. TAB NZ:
    1. New Zealand Thoroughbred Racing:
      1. Harness Racing New Zealand:
        1. the New Zealand Greyhound Racing Association (Incorporated):
          1. the Racing Integrity Board:
            1. Racing New Zealand.

              1. An amount of income derived by a racing club, as defined in section 5(1) of the Racing Industry Act 2020, is exempt income, if none of the club’s funds is used or is available to be used for the private pecuniary profit of a member of the club or an associate of a member.

              Compare
              Notes
              • Section CW 47 heading: amended, on , by section 129 of the Racing Industry Act 2020 (2020 No 28).
              • Section CW 47(1)(a): amended, on , by section 129 of the Racing Industry Act 2020 (2020 No 28).
              • Section CW 47(1)(e): inserted (with effect on 1 August 2020) on , by section 58 of the Taxation (Annual Rates for 2021–22, GST, and Remedial Matters) Act 2022 (2022 No 10).
              • Section CW 47(1)(f): inserted (with effect on 1 August 2020) on , by section 58 of the Taxation (Annual Rates for 2021–22, GST, and Remedial Matters) Act 2022 (2022 No 10).
              • Section CW 47(2): amended, on , by section 129 of the Racing Industry Act 2020 (2020 No 28).