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Tuesday | 16 March 2010 Racing Victoria Limited's Official Home which contains all thoroughbred racing information within the Victorian Racing Industry
 
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Step-by-step Guide to Leasing a Racehorse

Print this page Wednesday 13.01.2010

Racing Victoria Limited's Official Home which contains all thoroughbred racing information within the Victorian Racing Industry

 

Step-by-step Guide to Leasing a Racehorse

  1. 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.
  2. 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.
  3. Source a horse to race by either contacting a trainer directly or calling RVL on 1300 139 412.
  4. 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.
    or
    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.
  5. 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.
  6. 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.
  7. 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.
 
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