In a tax package announced in New Zealand yesterday, the depreciation period on bloodstock is being reduced which the bloodstock industry says should improve the genetic pool and also the export industry. Thoroughbred Breeders Association chief executive Michael Martin has been reported as saying this will encourage New Zealand investors to own top horses such as Zabeel, rather than leasing them from overseas.

The tax on gambling profits has also been slashed to four percent.

Meanwhile New Zealand Thoroughbred Racing Inc. (NZTR) confirmed a new structure on Thursday which Chief Executive Paul Bittar states: “will ensure NZTR can deliver on our three over-riding drivers in the coming years of: increasing profitability and participation in thoroughbred racing; to improve our code’s effectiveness; and to improve NZTR’s own performance. We aim to make these changes without any material impact on operating costs. In addition to a number of new roles being created, a number of existing roles will cease.”