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.
Impact on 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.
- High inflation and stagnant purses are already affecting the industry.
- Outdated and restrictive tax laws threaten the future of the industry.
Canada’s restrictive and unfair tax laws hurting Ontario’s horse racing sector
The industry supports 23,000 full-time equivalent jobs in the province.
Author summary: Canada's tax laws harm horse racing.
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