Regulation Impact Statement – Department of Agriculture and Water Resources
On 10 August 2017, the Deputy Prime Minister announced a levy for the thoroughbred horse industry consistent with its 2016 election commitment. The levy will commence on 1 September 2017.
The levy will give the industry greater certainty about investment in priority long-term research and development, targeting better disease control, stronger foals and horse welfare measures. The Government will match the industry's contributions up to $400,000 per year.
A Regulation Impact Statement (RIS) was prepared and certified by the Department of Agriculture and Water Resources in accordance with the Australian Government Guide to Regulation. The RIS was assessed as compliant and consistent with best practice by the Office of Best Practice Regulation.
The RIS estimates an annual average net regulatory cost of $2,725 for the entire industry.