| Tax Issues and Rulings Are you running a thoroughbred business and claiming GST but don't have a business plan? If so, then you may be in trouble. The ATO is cracking down on the horse industry, so it has never been more important to have a business plan than now. The following Taxation Ruling refers to various income tax issues relating to the horse industry, especially breeding and racing. Sheriff Iskander has participated in the consultation process of this ruling and would advise that it is a must-read for all industry members. - Taxation Ruling TR 2008/2 Income Tax issues relating to the horse industry; including whether racing, training and breeding activities amount to the carrying on of a business.
The following links are for the Australian Taxation Office (ATO) website. Read more about the income tax rulings that may affect you as an owner or breeder. Click here to view the Tax Office Horse Industry Questionnaire. To find out more about thoroughbred marketing and business consulting click here. | 
