Accounting and Taxation

Carrazzo Consulting CPAs

There is little doubt that in the past decade Paul Carrazzo CPA, the principal of Carrazzo Consulting CPAs, has emerged as one of the most respected Thoroughbred Tax Consultants in Australasia.

Paul is well known for being very active within his profession and especially the horse industry, his professional achievements include:

• being the feature tax writer for the "Australian Bloodhorse Review" since December 1993. His quarterly articles go under the title "The Tax File";

• resident tax specialist for Sky Racing's "Bred To Win" program;

• presenter of the first horse taxation seminar at a major Australian yearling sales, ie at the 2003 QLD Magic Millions sales . Paul now presents his horse tax seminars at major sales times all over Australia, including annually at the QLD Magic Millions sales. See attached flyer;

• regular horse industry tax commentator for the “Financial Review”;

• a former member of the Tax Office "National Horse Industry Partnership";

• honorary accountant for the NSW Racehorse Owners Association and ATLAS;

• CPA Australia guest speaker, in Melbourne and Sydney, for their annual “Sport Of Kings” member lunches. See attached flyer; and

• taxation presenter at the joint Carrazzo Consulting/Sire Custodians Sydney and Melbourne seminars on the topic of “Thoroughbred Industry Syndication and Taxation”. See attached flyer.

Carrazzo Consulting has its central base in Melbourne, however Paul regularly visits Sydney to see NSW clients at the Pitt Street offices of Sire Custodians Ltd.

Syndication services

Carrazzo Consulting has impressive experience in the area of providing services to Racing and Breeding Syndicates, highlighted by their participation in special syndications seminars with Sire Custodians Ltd and their work with the ATO in trying to obtain landmark tax rulings for racing and breeding syndicates.

See attached for Balance Sheet and Profit and Loss report for a typical racing syndicate.