The Ontario Racing Commission (ORC) is pleased to announce the approval of the revised allocations of the Pari-Mutuel Tax Reduction (PMTR) to support and encourage the horse racing industry in Ontario. This is in keeping with the ORC’s mandate to implement the components of the 5-year Horse Racing Partnership Plan (HRPP), as approved by the Ontario government.
As a result of the approval by the Board of the Ontario Horse Racing Industry Association (OHRIA) and the subsequent approval by the Board of the ORC, a new structure setting out the allocation of funds from the Pari-Mutuel Tax Reduction will be implemented with the effective date retroactive to April 1, 2014.
By way of this Notice to Industry, ORC licensed racetracks will be required to direct funds as prescribed below.
The ORC will work with affected industry stakeholders to account for amounts paid since April 1, 2014 pursuant to the prior allocation to ensure compliance with these revised rates.