Canada's Tax Laws Slammed As "Restrictive And Unfair"
Ontario Racing (OR) released a column discussing the negative impact of Canadian tax laws on the provincial horse racing industry.
Canada’s restrictive and unfair tax laws hurting Ontario’s horse racing sector
Ontario participants say being limited to a deduction of $17,500 annually is a disincentive to horse ownership, especially compared to United States tax laws.
The industry is struggling with high inflation and stagnant purses, and outdated tax laws threaten the future of an industry supporting 23,000 full-time equivalent jobs.
Author's summary: Canada's tax laws hurt horse racing industry.
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