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.
- High inflation and stagnant purses are already struggling the industry.
- Outdated and restrictive tax laws threaten the future of the industry, which supports 23,000 full-time equivalent jobs.
Author's summary: Canadian tax laws hurt horse racing industry.
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