Racing Queensland has elected to retain the key components of the existing Queensland Thoroughbred Incentive Scheme (QTIS) into the future.
RQ has confirmed a revised QTIS structure which will be applicable from July 1. The features of the new structure are as follows:
1. QTIS bonuses on 2YO and 3YO racing to remain at current levels
2. The 6% Breeders’ bonus to be maintained
3. QTIS bonuses on black type racing to be discontinued
4. QTIS bonuses on 4YO racing to be discontinued
5. Restricted racing will be subject to available funding within the QTIS budget
However, QTIS bonuses on black-type events and races for four year-olds will be discontinued.
Breeders, trainers and owners have been lobbying for RQ not to make cuts to the Queensland Thoroughbred Incentive Scheme that has been the backbone of the state’s racing industry in recent times.
The amendments to QTIS, which have the full support of all stakeholders, allows RQ to reduce expenditure associated with the program as identified in the Tracking Towards Sustainability (TTS) Plan, whilst maintaining the key elements that benefit breeders and owners.
The retention of the bonuses means that a QTIS colt or gelding is eligible to claim prizemoney of almost $63,000 for winning a Saturday metropolitan race in Queensland, even factoring in prizemoney changes outlined in the Tracking Towards Sustainability Plan which are set to be implemented from April 1.
The retention of a 50% bonus for QTIS eligible fillies means two-year-old and three-year-old fillies will be racing for a winner’s cheque of over $75,000 for a Saturday metropolitan race. The announcement is also set to have a positive impact ahead of the upcoming Magic Millions QTIS Sale to be held at the Gold Coast in March.
Queensland Thoroughbred Breeders Association (QTBA) President Basil Nolan said it was a major win for the Queensland racing and breeding industry.
“We’re very happy and grateful that Racing Queensland and the Queensland Government has listened to our concerns about QTIS,” said Nolan. “I think everyone will benefit from the retention of QTIS in its present form, as every participant in the racing industry benefits from a scheme like this.
“To have the QTIS prizemoney staying the same is a massive boost for the Queensland industry and I’m sure people will have confidence in the breeding industry going forward.”