STAKES RUN SYSTEM
Harness Racing NSW - Centralised Stakes Payment System (CSPS)
The Centralised Stakes Payment System (CSPS) is the system that has been set up to provide prompt payment of prizemoney to industry participants including Owners, Trainers and Drivers.
Fortnightly Payment Period
The fortnightly payment cycle commences from a Monday and covers all race meetings conducted by clubs through to the following Sunday, prior to the Wednesday stakes payment day.
For example, races from 14/11/2011 to the 27/11/2011 will be paid on Wednesday 30/11/2011. Monies are transferred by EFT to participant’s bank accounts and will be available from the Thursday morning, depending on the banking institution.
Payments are processed by customer number and not by horse name. If a customer number owns five horses all five horse’s prizemoney will be paid into the same bank account. There is no option to pay each horse’s prizemoney into five individual bank accounts.
Australian residents must provide HRNSW with banking details for payments as well as their current tax status, i.e. GST Registered, Hobbyist or, if applicable, their ABN to avoid having withholding tax charged at 48.5% (as per Federal Taxation Legislation.)
Where bank details have not been provided payments will be withheld by HRNSW until all relevant bank details are provided by the manager of the horse. International residents will receive a cheque payment until an Australian bank account can be provided for EFT payments.
All participants must provide HRNSW with their current address as well as home and mobile phone numbers. This will enable quick resolution of any queries that may arise in relation to payments. Email and fax numbers are optional
For your security , changes to bank and any other details will only be processed once HRNSW has received written confirmation from the manager of the account.
Types of transactions processed in CSPS
Standard CSPS transactions include prizemoney, driver charges, payments to drivers , fines, scratching fees and breeding incentive bonuses.
Cash Up Front (CUF) transactions that can be deducted from CSPS include fees for the following:
(i) licence renewal,
(ii) insurance,
(iii) colours,
(iv) leasing,
(v) naming,
(vi) sire registration,
(vii) import fees,
(viii) export clearances,
(ix) freeze branding, DNA testing, foal notification,
(x) transfer of ownership,
(xi) gazette subscription,
(xii) harness web subscription; and
(xiii) breeding charges.
These transactions will only be deducted against prizemoney if there is an issue with the payment received i.e. declined credit card.
Distribution of Prizemoney
Prize Money Payments for 1st, 2nd and 3rd place getters will be split as follows:
(i) 90% to Owner
(ii) 5% to Trainer
(iii) 5% to Driver
4th place receives 100% of the relevant amount advertised for the race – refer to the race program for 4th place prizemoney amount.
5th to last will receive 1% of total advertised prizemoney to a maximum of $100, known as “Unplaced Starter’s Rebate”. There is no unplaced starters rebate for Graduation and Penalty Free races.
Driver Charges (GST Inclusive) deducted from Owner’s Winnings
The following driver charges will be deducted against the participant’s account:
Group Races $66.00
Metro Races $55.00
T1/T2 Races $44.00
T3 Races $33.00
T4 Races $27.50
Example: 4th place prizemoney was $100
The participant will be paid $100 less the driver charge of $44. Therefore the amount to be paid for that placing is $56.
Swab Results
Swabs are sent to a Forensic Racing Laboratory and the timing of when test results are received by HRNSW and subsequently released is out of HRNSW’s control. HRNSW estimates that a minimum of 4 weeks is required for a swab to be cleared from race day, in accordance with HRNSW policy.
Prizemoney subject to swab results will not be paid until HRNSW has received notification from the Stewards department that the swab in question has been cleared. Once a swab has been cleared the prizemoney will be paid in the next CSPS run. No special payments will be made if a swab is cleared the day after the CSPS payments were made
Contacts:
CSPS – Sharon McGrath, Olivera Aceski
Address changes – Sharon McGrath, Olivera Aceski
Swabs – Stewards Department
Phone number for Harness Racing NSW is 02 9722 6600