Tasracing, in conjunction with the Thoroughbred Advisory Network, is pleased to announce that from 1 November 2024 the Code Funding Allocation for 2024/25 will be implemented resulting in the following for the industry:
- Following a 2.5 per cent increase, total prizemoney for Thoroughbreds is now $20,397,045.
- An increase to the Trainers Workers Compensation subsidy from three per cent to four per cent.
- An increase to Riding Fees from $225 to $230 per race ride.
- Hobart and Launceston Cups will revert to pre-COVID prizemoney of $250,000 enabling a redistribution of $100,000 to the Tasbred bonus scheme in support of grass roots racing.
Tiered prizemoney alterations to the following races:
- CL1 increased from $25,000 to $26,000
- CL2 increased from $25,000 to $27,000
- CL3 increased from $27,000 to $28,000
- CL4 increased from $27,000 to $29,000
- CL5 increased from $27,000 to $30,000
- BM72 and greater increased from $27,000 to $30,000
- Age MDN increased from $27,000 to $30,000
- Age HCP increased from $30,000 to $35,000
- BM62 and less decreased from $25,000 to $20,000
- 0-66 and less decreased from $25,000 to $20,000The changes as outlined for the Hobart and Launceston Cups have received strong support from Tasbreeders and the Australian Trainers Association (Tas).
Importantly, the changes are not expected to impact the quality of the field for either Cup, and prizemoney remains $100,000 above Group 3 minimum prizemoney.
The decision to redistribute $100,000 to the Tasbred scheme is an important and proactive step to support local owners and horses bred in Tasmania.
Andrew Jenkins
Chief Executive Officer
25 October 2024