Broodmares will be depreciated at a faster rate under changes to bloodstock taxation rates announced yesterday.
From April 1, broodmares would be depreciated from age 11, said Racing Minister Annette King and Finance Minister Michael Cullen.
The previous rate took effect from 15 years of age.
Representatives of the bloodstock industry had worked with Inland Revenue Department officials on the changes.
"The breeders successfully argued on strong evidence that the broodmare depreciation rate was unfair," said Mrs King.
"The changes should improve viability and will, I hope, help reverse the recent trend of declining numbers of New Zealand-bred horses."
- NZPA
Racing: Tax win for breeders
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