FROM THE PRESIDENT’S DESK

Happy New Year to all members and all racing participants.

The commencement of “A New Era in Racing” this year provides the perfect opportunity for all participants involved in the industry to come together and produce a more vibrant product to entice new people, both as owners and racegoers, to our magnificent industry.

With $300 million into the pot from the merger and race fields legislation, the creation of the merged Sydney Racing Club and the development of both Randwick and Rosehill, it should be all systems go for everyone to help the new Club which will in turn give a flow-on effect to Provincial and Country racing.

As you are aware the Association has been working hard with the AJC and STC to deliver the racing industry in Sydney with a new and better product and will continue along this path with the new merged club.

I am pleased to advise members that NSWROA Secretary, Mr Michael Inglis, was recently elected to the Board of Directors for Racing NSW Country as the delegate for country race clubs in the Southern Districts Racing Association and I take this opportunity formally to congratulate him on his appointment.

I would also like to again congratulate NSWROA Life Member and Director, Mr Max Whitby on his appointment to the new merged Sydney Racing Club and also congratulate Mr Laurie Macri, a former director of the Association, on his appointment.

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A QUICK WORD WITH …… RAY MCDOWELL

This new item in the Newsletter features a NSWROA Committee Member each month. The President, Ray McDowell is “in the spotlight” this issue.

1. What was your “introduction” into the racing industry?
With my Dad at 4.

2. Why did you decide to become a racehorse owner?
For the fun of ownership – the buzz !!

3. How many horses do you currently race?
I have 3 racing and I also have 5 young ones.

4. Who has been the “best” horse you have owned?
Intergaze.

5. Who has been the “best” horse you have seen?
So You Think – a nose in front of Intergaze.

6. What has been your most memorable moment on a racecourse?
It’s a triple dead-heat - the 2000 Australian Cup, beating the Big “O” in his last race and the Diamond Dash at Coffs Harbour.

7. What is your “vision” for the industry?
It is a “New Era” and its our chance for all parties in the industry to work together to create a better industry.

8. If you were down to your last $20.00 – what would you spend it on?
Being a good punter, I would put on a quaddie with Max. I would pick 3 legs and Max would pick one – and it would win. We would have a beer and I would then take my partner Sharon out to dinner.

NIGHT RACING COCKTAIL FUNCTION AT CANTERBURY PARK – 18 FEBRUARY 2011

As previously advised, the Association will be conducting a night racing cocktail function, our first function for 2011, on Friday, 18 February 2011, at Canterbury Park Racecourse.

The function will take place in the Directors Room, which is situated right in front of the Winning Post, and has its own private lift entry and private tote facilities.

The cost of the function is $55.00 per person which includes free admission to the track, a race book and a mouth watering cocktail menu which includes:

* Mini beef burger with tomato relish
* Prawn and aioli tart
* Lamb skewer with minted yoghurt
* Shoe string fries and lemon pepper flathead
* Peking Duck pancake with hoi sin and peanut sauce
* vegetarian rice paper rolls
* Bambino assorted cones
* Tea, coffee and chocolates

There will also be a cash bar available.

If you are interested in attending, please complete the attached booking form and return to the NSWROA office by Friday 11 February 2011 by:

Email: nswroa1@ozemail.com.au;
Facsimile: 9299 3212 or
Post: GPO Box 1506 Sydney NSW 2001.

2011 AUSTRALASIAN YEARLING SALES

In this issue of the newsletter we continue with our previews of upcoming yearling sales, this month featuring the February sales.

New Zealand Bloodstock
New Zealand Bloodstock’s Karaka Premier Sale has already forged an outstanding reputation as a consistent source of top flight thoroughbreds. Now, Karaka’s second-tier Select Sale has a success rate that is hot on its heels, as it carves a unique identity of its own as a sale of quality thoroughbreds.

The Select Sale – 2 to 4 February – has seen nine individual Group 1 winning graduates emerge last season alone (compared with 10 from Premier). Amongst them VRC Derby winner Monaco Consul and the New Zealand Derby winner Military Move, plus the last two winners of the coveted New Zealand Horse of the Year, Mufhasa and Vosne Romanee.

This season has seen the Select Sale well-represented in Australia with graduates like the smart Captain Rio filly Brazilian Pulse heading a Select Sale quinella (with Shamrocker) in the Group 1 VRC Oaks. Brazilian Pulse was a bargain in many eyes at just $26,000, with Shamrocker $65,000. Shamrocker’s half-brother by Shinko King has made the Premier session this time around (at Lot 201).

Also from the Select Sale have been the winners of the Group 1 Hong Kong Mile (Beauty Flash) and the Group 1 Zabeel Classic (Booming), contributing to a tally of 11 Group 1 races already won by New Zealand in Australia this season.

With a day’s break in between, following on from the Select Sale is the Festival Sale on 6 & 7 February, the final session of the Karaka Sales Series. This session is renowned for offering buyers an opportunity to purchase quality thoroughbreds at highly competitive prices. The Festival Sale has also seen its share of success with Group 1 graduates like C’est la Guerre, Eskimo Queen, Altered Image, Gallions Reach, and winner of last season’s Group 1 Manawatu Sires Produce, Nacho Man.

This year 627 horses are catalogued in the Select Sale and 492 in the Festival Sale with a range of well-performed stallions represented including Align, Captain Rio, Commands, Darci Brahma, Dehere, Don Eduardo, Elusive City, Golan, High Chaparral, Iffraj, Keeper, No Excuse Needed, Not a Single Doubt, One Cool Cat, O’Reilly, Pentire, Perfectly Ready, Pins, Savabeel, Tale of the Cat, Thorn Park, Volksraad, and more.

New Zealand Bloodstock’s Karaka Premier Sale will run on 31 January & 1 February, the Select Sale will run from 2 to 4 February with the Festival Sale on 6 & 7 February. For sales information please visit www.nzb.co.nz.

Magic Millions
Magic Millions will conduct two Yearling Sales during February. First cab off the rank is the Perth Yearling Sale which will take place from 9 to 13 February.

With some 686 lots on offer, owners are sure to find a yearling to suit their requirements. NSW sires represented at the sale include Ad Valorem (USA), Aussie Rules (USA), Benicio, Bernardini (USA), Canny Lad, Choisir, Commands, Dylan Thomas (IRE), Exceed and Excel, Excellent Art (GB), Excites, Flying Spur, Henny Hughes (USA), Holy Roman Emperor (IRE), Husson (ARG), Hussonet (USA), Lion Heart (USA), Lonhro, Not A Single Doubt, Oratorio(IRE), Quest for Fame (GB), Rock of Gibraltar (IRE), Shamardal (USA), Snippetson, Snitzel, Strategic, Stratum, Street Sense (USA), Testa Rossa, Viscount, Wonderful World and Zeditave.

Last year this sale grossed some $13,152,000 with a top price of $230,000 and an average price of $41,229. One of the highlights of the sale this year will no doubt be Lot 331, the half brother (by Show A Heart) to recent Magic Millions 2YO Classic winner, Karuta Queen.

The second Magic Millions Sale for the month is the Tasmanian Select Yearling Sale which will take place on 22 February. The sale will offer 160 lots with over 50 stallions represented providing buyers with a greater selection than ever before. Sires represented include NSW sires Beautiful Crown (USA), Not A Single Doubt, Rock of Gibraltar (IRE), Snippetson, Stratum and Zeditave.

For further details regarding the 2011 Magic Millions Yearling Sales, visit the Magic Millions website www.magicmillions.com.au.

Peter Milling & Co
The Dubbo Annual Thoroughbred Yearling Sale is to take place on 13 February at the Dubbo Showground. Described by Peter Milling as the “Bush Trainers Sale”, this sale offers owners the chance to buy a well bred yearling at a very reasonable price and have a lot of fun with it.

The catalogue this year comprises some 75 lots, highlighted once again by the draft from Darley Australia with progeny by Canny Lad, Commands, Dubai Destination (USA), Hard Spun (USA), Lonhro, Strategic and Street Sense (USA) on offer.

Other stallions represented at the sale this year include Alert (ARG), Amalfi (NZ), Aussie Rules (USA), Beautiful Crown (USA), Botswana, Bureaucracy (NZ), Choisir, Classic Endeavour (USA), Desert Sun (GB), Enemy of Average, Excites, Fiery Match, Gonski, Half Hennessy, Honor in War (USA), Intergaze, Librettist (USA), Lion Heart (USA), Lucky Owners (NZ), Murphy’s Blu Boy, Nuclear Freeze (USA), Power of Destiny, Primus, Pure Theatre, Seidnazar, Silent Action, Snippetson, Specialize, Tiger Hill (IRE), Trotamondo (CHI), Untouchable, Valixir (IRE), Volcanic Prince and Zariz.

For further details regarding the Dubbo Annual Thoroughbred Yearling Sale, contact Peter Milling & Co on telephone (02) 6882 3544.

Inglis
The Inglis Melbourne Premier Yearling Sale has enjoyed a stellar year, headlined by the World’s three top rated sprinters all emanating from the Oaklands Sale.

The 2011 renewal will be held over four days from February 28 to March 3. Premier 1 will be held on the Monday, Tuesday and Wednesday, with 568 yearlings on offer. Premier 2, comprising 157 lots, rounds out the sale on Thursday March 3.

On the racetrack Premier graduates have taken all before them in the last two years having won Group One races in South Africa, Japan, Singapore, Hong Kong, The United Kingdom and Australia.

The feats of Premier graduates Black Caviar, Sacred Kingdom and Starspangledbanner to fill the top three spots in the official Global sprint rankings in 2010 were ably supported at Group One level by Ultra Fantasy (Japan), Littorio, Rostova and Turffontien.

Containing a good balance of proven sires and exciting well-credentialed new stallions, the increased depth of the female families present in the 2011 catalogue is evident in the number of siblings to stakes winners, 83 (up from 74 in 2010) and 92 yearlings from stakes winning dams (up from 78 in 2010).

The 2011 Inglis Melbourne Premier Yearling Sale is held during the Melbourne Festival Of Racing’s peak period of Group One racing and social events.

For catalogues visit www.inglis.com.au.

Our best wishes to those of our members both buying and selling yearlings at the 2011 sales.

TRANSPORT RISKS FOR YEARLING PURCHASES

by Kingsley Edwards, B.Agr.Ec (Syd.), Dip.Fin.Serv. (Ins. Broking), ANZIIF (Snr. Assoc.), C.I.P.

Since every yearling purchased at a sale must be moved from the sales complex to its new home within a couple of days of being sold, the risk of physical injury or illness associated with that transit is an important consideration for those purchasing yearlings at sale.

The movement of a horse from a sale will include loading and unloading onto and off a float which carries with it a risk of injury each time this is attempted.

The quality of the transport used, especially the standard of care/treatment provided during the journey, is a major factor in the level of injury or illness risk to which the horse is exposed.

Travel sickness is an inherent risk in transporting horses, particularly when long distances are involved. Continual improvements in horse transport practices over the last 20 years have lessened this risk, but the risk of travel sickness nonetheless remains real.

The financial impact of injuries sustained or illnesses manifesting themselves during horse transportation which result in the horse’s death can be reduced by taking out an insurance policy from “Fall of Hammer”, or at least prior to the commencement of the horse’s journey from the sale yard.

The Lloyd’s Equine Policy is a death cover that also includes humane destruction when recommended by a qualified vet in the case where the horse’s suffering is incurable and excessive.

The standard mortality insurance policy is for a twelve month period and importantly extends to include the horse whilst being transported anywhere within Australia and New Zealand (as well as between those countries).

The policy is intended to place the owner in the same financial position after the loss, as before the loss. It therefore indemnifies the policyholder for loss of their asset by paying them the horse’s fair market value in order to allow them to replace the horse. In the case of yearlings in transit from recently being bought at a sale, this is deemed to be the purchase price. The premium paid by the owner for the insurance policy is calculated as a percentage of the Sum Insured (which is the maximum amount the policy will pay out provided it is less than or equal to the fair market value).

For more information regarding insurance of purchases from Yearling Sales, please contact Kingsley Edwards at Gow-Gates on (02) 8836 1140 or kedwards@gowgates.com.au.

Disclaimer: The information in the above article is intended as a guide only and should not be relied upon without reading the policy wording and seeking independent professional advice.

WINNERS ARE GRINNERS

A WINNER – there are no better words for an owner to hear!

As members are aware, as part of our membership renewal process, NSWROA requested members to forward the names of their racehorses in order for us to acknowledge their racing triumphs in our publications.

The listing under comprises wins recorded in New South Wales as well as Australian black type successes which are recorded in bold type.

Accordingly, hereunder are the lucky NSWROA members who had winners in December 2010:

 
Owner Meeting Horse
R Bramich Wagga High Expectation
P Braude Taree Rachels Own
G Bunt Rosehill Monton
A Cardy Canberra Court Connection
J Cassim Cooma In The Rye
P Cater Dubbo Bella Bellagio
A Chiswick Rosehill Al's Gold
F & Mrs C Cook Randwick (2) Fusakeo
    Mutawarath (IRE)
  Rosehill So So Sure
  Wyong New York's Finest
M Doyle Cooma Jymcarew
D Farnham Rosehill Bellagio Wynn
J Fleming Dubbo San Zaim
  Narromine Spectacular Iam
F Galluzzo Canberra Sound Choice
Gooree Pastoral Company Gosford River of Salvation
  Kembla River of Salvation
  Randwick Swift Alliance
A Gow-Gates Wyong Wakanda
D Hall Canterbury Gold World
G Harvey Bathurst Coimbra
  Caulfield Aloha
  Gosford Zastava
  Hawkesbury Zastava
  Rosehill I Walk The Line
R & Mrs S Hickey Albury Redleaf
J Jackson Randwick Mutawarath (IRE)
I Johnson Cessnock Midnight Concerto
  Wyong Leica Wind
R Lapointe Randwick Hello Mister
R & M Lazarus Tamworth Sutton Queen
Mrs M Livingstone Gosford Okapye
His Excellency Nasser Lootah Cessnock Munyate
J R Mallam Scone Pteryon
W & Mrs M McNally Queanbeyan Cajo Kellila
A Menzies Wagga Fu Who
P Morrison Nowra Double Crescent
A Moulding Taree Bindifield
W & Mrs R Mula Hawkesbury Olympic Diva
Dato Tan Chin Nam Canterbury Think Ahead
M O'Sullivan Queanbeyan Me Me Me
Patinack Farm Racing Synd. Randwick Pane in the Glass
W & Mrs B Pegg Hawkesbury Gold Tea (NZ)
  Wyong Gold Tea (NZ)
D Rex Goulburn Man of Honour
  Randwick Halfwaytolondon
Ms J Ritchie Hawkesbury Devils Rock
B Rutter Queanbeyan Me Me Me
Sheikh Mohammed Canterbury (2) Plaisance
    Rampart
  Gosford Sables
  Hawkesbury (2) Bernanke
    Ouija
  Randwick (3) Fiscal (2)
    Screen
  Rosehill (3) Benfica
  Rosehill Dysphonia
    Mascareri
  Wyong (2) Fraganza
    Pouter
E & Mrs R Sperling Goulburn Geelong
N & Mrs A Vass Newcastle Our Freedom
  Rosehill Flying Success
T W, Mrs D, J W &
Miss H Wallace
Cessnock Calendar Lass
  Port Macquarie Phantasm
  Tamworth Lifou
G & Mrs V Williams Randwick Black Fix
  Wyong Karuta Queen
D Wilton Port Macquarie Michelle Magic
L Young Queanbeyan Blue Wren
 

Another feature in the Newsletter is the 2010/2011 NSWROA Member’s Black Type Honour Roll which acknowledges the success of members in the black type arena.

The Honour Roll, as at 31 December 2010 is as follows:

 

2010/2011 NSWROA Members Black Type Honour Roll
Current to 31 December 2010

Race Name Horse Owner
G1 MRC Underwood Stakes So You Think (NZ) Dato Tan Chin Nam
G1 AJC Flight Stakes Secret Admirer J & Mrs T Muir
G1 AJC Spring Champion Stakes Erewhon Sheikh Mohammed
G1 MRC Yalumba Stakes So You Think (NZ) Dato Tan Chin Nam
G1 MVRC W S Cox Plate So You Think (NZ) Dato Tan Chin Nam
G1 VRC L K S Mackinnon Stakes So You Think (NZ) Dato Tan Chin Nam
G1 VRC Myler Classic Sacred Choice G M Fraser & Mrs K A Fraser
G1 WATC Railway Stakes Gathering Patinack Farm Racing Syndicate
G2 AJC Warwick Stakes Metal Bender (NZ) D Fuller
G2 MRC Memsie Stakes So You Think (NZ) Dato Tan Chin Nam
G2 VRC Let's Elope Stakes No Evidence Needed Patinack Farm Racing Syndicate
G2 STC Research Stakes Trim Sheikh Mohammed
G2 STC Premiere Stakes Hot Danish A E Curtis
G2 AJC The Shorts Hot Danish A E Curtis
G2 VRC Blazer Stakes Palacio de Cristal G Harvey
G2 MVRC Moonee Valley Gold Cup Precedence (NZ) Dato Tan Chin Nam
G3 AJC Missile Stakes Love Conquers All N Moraitis, AM
G3 AJC San Domenico Stakes Obsequious Sheikh Mohammed
G3 AJC Silver Shadow Stakes Parables Sheikh Mohammed
G3 AJC Up and Coming Stakes Blackball Sheikh Mohammed
G3 MRC Naturalism Stakes Rainbow Styling (NZ) N Moraitis, AM
G3 MRC Tranquil Star Stakes Divorces Sheikh Mohammed
G3 STC Gloaming Stakes Retrieve Sheikh Mohammed
G3 MVRC JRA Cup Precedence (NZ) Dato Tan Chin Nam
G3 AJC Bill Ritchie Handicap Drumbeats Sheikh Mohammed
G3 AJC Craven Plate C'Est La Guerre G Rogerson
G3 MRC Norman Robinson Stakes Retrieve Sheikh Mohammed
G3 VRC Lexus Stakes Maluckyday (NZ) N Moraitis, AM
LR VRC Aurie's Star Handicap Elusive Touch P Silvestro & M Continibali
LR MRC Quezette Stakes Panipique Ramsey Pastoral Company
LR AJC Toy Show Quality Hcp Illuminates G Harvey
LR STC Premier's Cup Snow Alert Stratheden Stud
LR WRC Mona Lisa Stakes Brasileira Sheikh Mohammed
LR AJC Dulcify Quality Handicap Yulalona Sheikh Mohammed
LR AJC The Nivison Marquardt (NZ) Patinack Farm Racing Syndicate
LR AJC NSW Breeders Plate Smart Missile Gooree Pastoral Company
LR AJC Angst Stakes Lovemelikearock Mrs B Cummings
LR VRC Doncaster Stakes Territory Sheikh Mohammed
LR VRC Maribyrnong Trial Stakes Sepoy Sheikh Mohammed
LR VRC Superstable Stakes Gathering Patinack Farm Racing Syndicate
LR SAJC Hill Smith Stakes Kittens G Harvey
LR AJC City Tattersalls Club Cup Maluckyday (NZ) N Moraitis, AM
LR AJC Governor Macquaire Cup Celts Sheikh Mohammed
LR GRC Geelong Classic Milestone Sheikh Mohammed
LR MVRC Arrow Training Services St. Zubbaya Sheikh Mohammed
LR VRC Lexus Hybrid Plate Palomares Sheikh Mohammed
LR VRC Bundaberg Distilling Co St. Tagus Patinack Farm Racing Syndicate
& G Harvey
LR VRC Myer Spring Fashion Stakes Backgammon Sheikh Mohammed
LR HRC Ladies Day Cup Kanzan Sheikh Mohammed
LR MRC Summond Stakes Happy Hippy Patinack Farm Racing Syndicate
LR MRC Merson Cooper Stakes Dinner Date G Harvey
LR STC Festival Stakes Dysphonia Sheikh Mohammed
LR STC Christmas Cup Bellagio Wynn D Farnham
LR AJC Razor Sharp Handicap Swift Alliance Gooree Pastoral Company
LR MRC Lord Stakes Aloha G Harvey

What great results! Congratulations to all! Don’t forget to forward the names of your racehorses to the NSWROA office.

THE CARRAZZO TAX FILE – GOVERNMENT TRUSTS BACKFLIP

A welcome Christmas present was handed to approximately 23,000 Australian farmers who have trusts when on 16 December 2010 the Government issued a media release advising that the tax law would be amended so that trust beneficiaries can continue to use the primary production averaging provisions (see below) and farm management deposits (FMD) provisions in a loss year.

N.B. The FMD scheme is designed to allow primary producers to, in effect, shift income from good to bad years in order to deal with the adverse economic events and seasonal fluctuations.

The Assistant Treasurer also announced that a public consultation process would be the first step in updating the trust income tax provisions.

There is little doubt that the Government caved in to the enormous lobbying conducted by bodies such as the National Farmers Federation (NFF), CPA Australia and the Institute of Chartered Accountants. The Government also honored the Henry Tax Review recommendation to rewrite the current trust tax laws.

Breeders amongst the “winners”
The significance to the horse industry is that taxation breeders, who are classified as Primary Producers at tax law, can continue to use trusts in the manner intended and its beneficiaries not be treated any differently to individuals earning primary production income in their own right.

Numerous horse breeders conduct their horse activities via trusts as they have many benefits compared to the more conventional tax structures such as companies and partnerships.

This release revolves around the status of income derived by breeders in trusts and whether, in the hands of beneficiaries, it can be subjected to the special Primary Producer income averaging provisions.

What is income averaging?
Averaging is designed to ensure that primary producers (e.g. breeders) with fluctuating incomes pay no more tax over a number of years than those on comparable but steady incomes. This is achieved by making an “averaging adjustment” in each year in which the averaging applies.

Averaging clearly reflects that, due to the vagaries of being on the land, incomes from year to year can fluctuate wildly through things such as floods, droughts, viruses, bushfires, insect plagues etc. No better example than the current “biblical” type floods affecting so much of Queensland at the moment where so many primary producers have had their income from 2011 crop and animal breeding activities virtually wiped out by this amazing occurrence.

How does averaging work? In high income years (when average income is less than current year taxable income) the adjustment takes the form of a tax offset that reduces tax. In low income years (when average income is greater than current year taxable income) the adjustment is made by increasing the tax that is payable.

Example – Averaging saves tax!
Brad is a beneficiary of the Brad Bloodstock Trust. In the tax years 2009, 2010 and 2011, the trustee allocated the following income distributions from his trust:
2009 - $50,000
2010 - $80,000
2011 - $200,000

These trust distributions were his only source of taxable income in these years.

Brad’s average taxable income over these three years is $110,000 ($330,000/3 yrs). Brad’s trust had an exceptional year in 2011, where it had many yearlings that realized in excess of $100,000.

Brad is entitled to a tax offset in the 2011 tax year as his basic taxable income of $200,000 exceeds his average income of $110,000.

In this instance, after a complex calculation, Brad’s averaging tax offset in 2011 is $12,043, this amount reducing his tax payable (excl. Medicare Levy) from $63,550 to $51,507, a significant reduction in his tax payable of nearly 19%.

The problem – ATO designated breeding income of trusts as “normal” income
It has been a long held ATO position that breeding/primary production income of a trust maintains that character even when distributed to an eligible income “beneficiary” of a trust, i.e. even where the individual beneficiary does not conduct a primary production business in his or her own right. This is important as it ensures that a beneficiary in receipt of breeding trust income can access the primary producer income averaging provisions.

This rule could also be relied upon by beneficiaries even in a year where the trust makes a loss or derives no trust law income and may not be entitled to make a trust distribution.

However, this all changed on 30 June 2010 when the ATO withdrew the 1995 tax ruling giving authority to its previous above position. The ruling met this fate as a result of the decision in a landmark trust tax case called “Bamford’s”, a tax case that gave greater certainty to the taxing of trust income. The ATO considered that keeping this ruling in place would conflict with the principles in this new landmark High Court tax case.

Justifiably, this harsh and unforeseen ATO decision caused uproar to thousands of rural family businesses who conduct their primary production activities via a trust, (for reasons primarily of asset protection and tax efficiency). In times of fluctuating incomes within rural Australia, potentially stripping trust beneficiaries of the averaging provisions seemed extremely inappropriate and inequitable given the increase in tax likely for trust beneficiaries.

You are welcome to contact Paul Carrazzo if you wish him to clarify or expand upon any of the matters raised in this article.

DISCLAIMER: Any reader intending to apply the information in this article to practical circumstances should independently verify their interpretation and the information’s applicability to their particular circumstances with an accountant specialising in this area.

PAUL CARRAZZO CPA
CARRAZZO CONSULTING CPAs

22 BLACKWOOD ST, NORTH MELBOURNE VIC 3051
TEL: (03) 9329 7044
FAX: (03) 9329 8355
MOB: (0417) 549 347
E-mail: paul.carrazzo@carrazzo.com.au
Web Site: www.carrazzo.com.au

2011 MEMBERSHIP RENEWALS

A reminder to members that 2011 membership renewal fees are now due.

2011 membership fees, inclusive of GST, have remained at the same rate as last year.

I confirm that the Country Membership Rate, which was introduced in 2010, will continue again in 2011 and will also remain at the same rate.

Please note that if you renew your membership by Friday 4 February 2011, you are automatically entered into the “Early Bird” Membership Renewal Competition which has three great prizes on offer.

To those of our members who have already renewed your membership our thanks – your support of the Association is greatly appreciated.

BOBS & BOBS EXTRA UPDATE

This month’s Magic Millions yearling sales at the Gold Coast emphasise yet again how important BOBS and BOBS Double-Up have become to the racing industry – not only for NSW owners but also for those interstate.

Every day while attending the sales to promote the scheme, I was approached by owners, trainers and breeders who described BOBS as simply the best scheme of its kind and one of immense value. A representative of the European breeders asked me to run through the scheme and explain its workings because he had thoughts of trying to replicate BOBS in Europe.

If you look at the results of the Magic Millions sale you’ll see that the BOBS Eligible yearlings (and they made up about 82% of the catalogue) were consistently bringing higher prices than comparable yearlings bred in Queensland or Victoria. The bidding for BOBS yearlings was always more vigorous and competitive.

There was nothing wrong with yearlings by Jet Spur, Bradbury’s Luck, Falvelon, Show a Heart, Hidden Dragon, Court Command or any other Queensland based stallion – but their progeny are not eligible for BOBS and unless they’re absolutely outstanding types, NSW owners and trainers won’t consider them. A part-owner of one of those stallions told me he’d like the horse re-located to NSW for that very reason.

Now as owners, you may think that’s not necessarily a benefit, because higher purchase costs make it tougher for owners. But the majority of horses sold at the major sales will be raced by people already in the industry. And that’s where BOBS Double-Up comes into play.

Every week I send out letters to winning owners, reminding them that instead of taking the BOBS bonus as a cash payment, they can double the value by authorising Racing NSW to hold onto the bonus and then pay it directly to an auction house when the owners purchase another BOBS Eligible yearling.

In the next few weeks I will see dozens of these claims as owners send us the accounts from Magic Millions or Inglis. And it’s not confined to those two sales companies: owners out west can use Double-Up at the Dubbo sale in February, and the vouchers can also be used to buy BOBS eligible yearlings at Karaka in New Zealand or the Brisbane Bloodstock sale.

If you’re serious about owning racehorses, and if you fail to Double-Up your BOBS or BOBS Extra bonus, then you’re doing yourself a disservice!

For further information please contact John Gatfield, BOBS Executive Officer, Racing NSW on telephone: (02) 9551-7574.

VALE – JOHN “SKIPPER” KELLY

The NSW Racehorse Owners Association (NSWROA) was greatly saddened to hear of the passing of John “Skipper” Kelly in late December following a tragic accident.

John was a great supporter of the Association regularly attending Racing’s Night of Champions, Sydney Cup luncheons and also our night racing functions with his wife Catherine, milliner extraordinare, of Embellish Atelier. John was 50 at the time of his passing,

John is survived by Catherine and their children Ben, Tess and James and on behalf of the NSWROA Committee and our members, we extend our deepest sympathy to the family.

CONTACT DETAILS FOR MEMBERS

Have you recently moved, changed your postal address or obtained an email address? If so, it would be greatly appreciated if you could contact the office in order for our records to be updated.

Yours in Racing
Ray McDowell, President
21 January 2011

STOP PRESS – ADVANCE NOTICE – GOLDEN SLIPPER HATS & HIGH TEA FUNCTION

If you love your fashion – this event is a definite must on your calendar.

The Golden Slipper Hats and High Tea, which is held in conjunction with Sharon Lenton Events, will take place on Sunday 20 March 2011 at Dockside at Cockle Bay.

One of the glamour events leading into the Sydney Carnival, this is the third occasion the event has been held. This year guests will be dazzled with millinery inspired from Europe, Autumn fashion trends with accessories to match and a makeup artist to demonstrate how to compliment your look. Female race caller Victoria Shaw will be the event compare and there will be surprises to entertain guests throughout the event.

Also to be showcased on the day will be the latest collection from Lindsay Clare, who is now based in Europe and Kim Fletcher, last year’s ambassador for the Melbourne Carnival who jets all over the world to bring the world to Melbourne, and who will for Autumn, bring the look to Sydney.

Further details for this event will appear in the February issue of the newsletter.

 

NSW Racehorse Owners Association • GPO Box 1506, SYDNEY NSW 2001
Ph: 9299 4299 • Fax: 9299 3212 • E: nswroa1@ozemail.com.au • W: www.nswroa.com.au