Tough times but Sports Club has good year
DESPITE increased government taxes and costs, wage rises and a general downturn in the service industry, the Toowoomba Sports Club enjoyed another profitable year. the club’s AGM has been told.
Now in its 25th year, club president Greg McIntyre paid tribute to early club directors who drove the project.
“I would like to acknowledge the foresight and hard work of those who started the club,” he said.
The Sports Club was formed by five sponsor clubs — rugby league clubs Brothers, Souths and Valleys, Norths Hockey Club and the Toowoomba Basketball Association.
The club fell into receivership about 15 years ago but through a partnership with the Canberra Raiders the club has been debt free and building sizeable assets.
The Sports Club distributed $200,000 to the five member clubs this year as well as donations to a number of charities and service clubs like Lifeline.
Mr McIntyre said government taxes and new regulations impacted on clubs.
“The government both federal and state continue to bog the service industry down in red tape and increases in taxes and costs,” he said.
“It has also introduced an inordinate amount of regulations in relation to money laundering which must be complied with and is complicated and time consuming to monitor.
“Then there is the yearly increase in excise tax and wage rises.”
Mr McIntyre said the club had plans for refurbishment and extensions in the coming years.
“The focus of the directors in partnership with the Raiders Group will be to improve and enhance the club’s amenities for its members,” he said.