Racing Queensland has decided to retain key features of the Queensland Thoroughbred Incentive Scheme (QTIS).
Racing Minister Grace Grace said the decision was a win for the Queensland breeding industry.
“Queensland breeders have welcomed this decision as a big win for the State’s thoroughbred industry,” she said.
Following the release of the Tracking Towards Sustainability Plan, the State Government along with Racing Queensland consulted with key stakeholders to discuss proposed changes to the QTIS.
These included the Queensland Thoroughbred Breeders Association, the Queensland Racehorse Owners’ Association, the Queensland Trainers’ Association and the Australian Trainers’ Association.
QTBA president Basil Nolan said he was happy that Racing Queensland and the State Government has listened to its concerns.
“I think everyone will benefit from the retention of QTIS in its present form, as every participant in the racing industry benefits from a scheme like this,” Mr Nolan said.
“To have the QTIS prize money staying the same is a massive boost for the Queensland industry and I’m sure people will have confidence in the breeding industry going forward.”
Glenlogan Park stud manager Steve Morley said it was important that QTIS could retain its status as offering the best bonuses in Australia.
“For all intents and purposes on a week-to-week basis, QTIS remains the same and in my opinion, the bonuses on offer are the best in Australia,” he said.
“To have 2yo and 3yo fillies running around for such great returns on a week-to-week basis creates the market that breeders need and provides the product that all owners and trainers want.
“The biggest thing for us is to have a scheme that is the best so that breeders can mate horses with confidence, knowing there will be a market for them at the end because owners and trainers want to own QTIS horses.
“Everyone can now go to the March sale with confidence knowing that the QTIS bonuses are set in concrete and are the best in Australia.”
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Racing Queensland’s revised QTIS structure, applicable from July 1:
- QTIS bonuses on 2yo and 3yo racing to remain at current levels
- The 6 per cent Breeders’ bonus to be maintained
- QTIS bonuses on “black type” (elite) racing to be discontinued
- QTIS bonuses on 4yo racing to be discontinued
- Restricted racing will be subject to available funding within the QTIS budget
