Gold Bonus

Gold Bonus Conditions

To be eligible for the APG Gold Bonus Scheme a horse must be fully sustained for the Two Year Old Series

Owners (or registerede lessee(s) in the case of a leased horse) of an eligible horse will receive an APG Gold Bonus upon their horses first 2yo win in any officially sanctioned race offering minimum stakes of over $1,000.

The registered owner(s) (or registered lessee(s) in the case of a leased horse) at the time when a horse wins its eligible two year old race will be the recipient of the APG Gold Bonus;

 

How does APG keep track of Gold Bonus winners?

APG generates a report on a monthly basis that identifies all of APG's 2yo winners for the season to date, and identifies whether or not those horses are fully sustained, and hence eligible for a Gold Bonus.  Based on this report, APG maintains a Gold Bonus register that records:

  • The name of the horse that won the Gold Bonus;

  • The date on which the Gold Bonus was won;

  • The ownership group that owned / leased the horse at the time the Gold Bonus was won; and

  • Details of whether the owners have redeemed the Gold Bonus, and if so, which of the three bonus options they elected to receive (refer below).

If you are the recipient of a Gold Bonus, you will receive a letter from APG at some point throughout the season notifying you of your Gold Bonus win, and you should also receive a second letter in the lead up to the yearling sales reminding you that you have a Gold Bonus that can be redeemed at the upcoming sales.

However, if you are ever in doubt with regards to your Gold Bonus entitlements, please do not hesitate to contact APG on (03) 5275 1999.

 

What can I do with my Gold Bonus?

Gold Bonuses may be redeemed at the APG yearling sales for any one of the following options:

  • You may use the Gold Bonus to receive $4,000 off the price of a filly that you purchase at the APG Sales;

  • You may use the Gold Bonus to receive $2,000 off the price of a colt / gelding / rig that you purchase at the APG Sales; or

  • You may use the Gold Bonus certificate on sales day to fully sustain any yearling that you purchase for the APG Race Series & Gold Bonus Scheme (valued at $2,200).

You may also use your Gold Bonus to fully sustain any yearling for which you have already paid the “Non Sale” Entry Fee of $3,850.  That is, you still need to pay the normal Non Sale entry fee, but you can use your Gold Bonus to cover all the additional sustaining payments that you would normally be required to make beyond the initial Non Sale entry fee.

 

Does my Gold Bonus have an expiry date?

Gold Bonuses are non-transferrable and remain valid for a period of two years from the date when the bonus was earnt (i.e. the date when your horse won its first eligible 2yo race).  Gold Bonus Certificates that are not redeemed within two years of their issue date will expire. 

 

Is my Gold Bonus Transferrable?

Gold Bonuses are non-transferrable, meaning that you cannot on-sell them to third parties.

However, in the event that a horse that wins a Gold Bonus is owned or leased by more than one person, any one of the owners may use the certificate.

For example, if a horse that won a Gold Bonus was owned by A, B & C, then it would be perfectly permissible for C to use the certificate to purchase a horse (either outright, or in partnership with other people) at the APG Sales.

In the above example, if having won the certificate, A, B & C may agree that C can use the certificate at the sales, and C may decide to attend the sales and buy a horse in partnership with two new people “D” & “E”.

So long as “C” is listed as one of the registered owners of the new horse when the transfer papers are lodged, “C” will be entitled to use the Gold Bonus in any way that he wishes.

 

How does GST affect the Gold Bonus?

If the person(s) redeeming the Gold Bonus is not registered for GST, then there is no GST impact.  So, for example, if the certificate is redeemed to get $4,000 off the price of a filly, then that is exactly what happens.

So, for example, if you purchase a filly off a GST registered vendor for $16,500 ($15,000 + GST), then you will receive a $4,000 discount, leaving you with a net amount payable of $12,500.

Similarly, if you purchased a filly off an unregistered vendor for $15,000 (No GST), then you would receive a $4,000 discount, leaving you with a net amount payable of $11,000.

However, if you are GST registered, then APG will require you to raise an invoice to APG for the redemption amount (plus GST).  APG will credit your account for the GST inclusive value of the Gold Bonus (e.g. $4,400 if the Gold Bonus is used towards the purchase of a filly), but you will be liable to remit GST to the tax office.