Fees and Prizemoney
Every fortnight, all riding fees and prizemoney are transferred directly into the jockeys nominated bank account.
The riding fees are negotiated annually between the NSWJA and Racing NSW.
The current Jockey riding fees are:
- Riding Fee = $262.50 (ex GST)
- Superannuation = $30.19
- Trial fee (non raceday) = $91.87 (ex GST) + Superannuation
- Trial Fee (after last race) = $131.25 (ex GST) + Superannuation
The current Apprentice riding fee (note 25% deducted by Racing NSW for trainers and managers):
- Riding Fee = $196.87 (ex GST)
- Superannuation = $22.64
- Trial Fee (non raceday) = $68.90 (ex GST) + Superannuation
- Trial Fee (after last race) = $98.43 (ex GST) + Superannuation
Minimum Ride Allowance (MRA)
- If you have three rides or less, you will have $35.00 credited to your stakes payment.
- If you have three rides or less AND you travelled more than 150kms from home to races, you will receive a $75.00 travel allowance.
- The $35 will go into your stakes payment immediately. The travel allowance is calculated quarterly. The onus is on the jockey to keep a record on the “travel allowance”.
Superannuation
In 2014 the Australian Jockeys Association were successful in obtaining Superannuation Guarantee for all jockeys and apprentices.
This has proven to be a fantastic windfall for jockeys.
Superannuation of 11.50% is paid for race rides and barrier trial rides for all jockeys and apprentices to the Superannuation Fund of their choice.
Should you wish to change or rollover your Superannuation into one fund please contact tony@nswjockeys.org.
If you are licenced outside NSW and you would like the funds to be directed to your nominated Superannuation Fund please contact tony@nswjockeys.org.
There is one simple form to complete and sign.
Tax – Withholding Tax
NSW Apprentices now have their tax withheld by Racing NSW from when they begin their indentures. This has been a brilliant and sensible decision. It saves the apprentice jockey getting hit with a substantial tax bill at the end of the season.
Most jockeys still have their tax withheld; this helps them manage their income, and again stops them being hit with a huge tax bill.
Apart from winning races, organising your tax runs a close second.
Too many jockeys from yesteryear, and unfortunately today, have been hit with tax bills that can take years to pay off.
If you wish to have your tax withheld, please contact tony@nswjockeys.org who will send you the correct form and guide you on what percentage you may want withheld.
Tax – Accountant
Running a close third behind winning races and organising your tax is having a good accountant.
We recently had an accountant reduce a jockey’s tax payment by 50%, simply by understanding the financial aspects of a jockeys (professional athletes) deductions.
The NSWJA can suggest a couple of accountants. Otherwise, look at successful jockeys around your region and ask which accountant they have.
We do not recommend jockeys having accountants who do not have other jockeys on their books.
Insurances – Workers Compensation
Jockeys, including apprentices and approved riders, who are injured while riding in a race, barrier trial or trackwork at a NSW racetrack (including Canberra) are entitled to the full range of workers compensation entitlements prescribed under NSW workers compensation legislation.
There are more details and forms under on the Injury Procedure page.
Income Protection
All jockeys should have some form of income protection.
It helps in many ways, in particular:
- Topping up your wages if you out injured for a significant period of time.
- Having an income stream if you are injured away from the racetrack
Australian Super offer Income Protection for jockeys, but it can be difficult to access.
To discuss and obtain further information, please contact tony@nswjockeys.org.
Appeals
Appeals need to be lodged win one business day of a suspension (if less than 4 weeks) or 2 business days if suspended for more than 4 weeks.
You can represent yourself; engage a lawyer or be represented by the NSWJA
For forms and further details please click here.