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Decide on whether you want ot race on your own or if you would prefer to get a group of friends together to race a horse and share the costs.
- If you decide to race with more than 10 friends, you will first need to form and register a syndicate. This must be done before any further paperwork can be completed. The cost of registering a syndicate is AU$275 with an annual renewal fee of $55.
- Source a horse to race by either contacting a trainer directly or calling RVL on 1300 139 412.
- If your horse is unnamed, you will need to complete an 'Application to Register a Racehorse' form and lodge it with Racing Victoria. This is where all the owners usually get to submit their choice of name. Seven name options are required for the form. The cost of registering your racehorse is AU$100.
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If your horse is already named you will need to transfer the horse into your and your partners names. This can be done in the back of the horses 'Document of Description' (often called registration papers or passport). The cost of transfering ownership is AU$110.
- Each sole owner or partner (and the syndicate manager on behalf of the syndicate) will also be required to complete a GST Declaration Form. The GST declaration form is required for each horse so if you have already completed one for another horse, you will need to complete another one for this horse.
- At the same time as lodging your registration & GST forms, you will also be required to submit a Standard Lease Agreement. Sole Owners and Partners (up to 10 owners) Sole owners and each partner in a horse must sign the Standard Lease Agreement in triplicate. Therefor the forms should be mailed around to each owner which can take some time. Syndicates (up to 20 owners) Only the syndicate manager is required to complete the Standard Lease agreement on behalf of the syndicate.
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Once your horse and your lease is registered in your name, you and your partners name or your syndicate name, you will be ready to race.
Lease Prizemoney Payment Guide
The leasing contract providing for the supply of a racehorse by an owner/lessor to a lessee for the purpose of racing.
When a leased horse races, Racing Victoria accounts for the supply by the lessee to Racing Victoria for racing purposes.
Accordingly, RVL pays all prizemoney earned by a leased horse to the Lessee Manager, being consideration for the supply made by the lessee to RVL. There is no supply made by the lessor to RVL.
It is the responsibility of the lessee manager upon receiving prizemoney to make timely payments to the owner/lessor and then distribute the remaining monies to the lessees or pay for training costs.
It is important to note that it is the lessor who makes a supply to the lessee, and RVL is under no contractual obligation to remit funds to the lessor direct.