What is QTISx

1) What is QTISx?

QTISx is an extension of the Queensland Thoroughbred Incentive Scheme which will see QTISx Bonuses/QTISx Vouchers offered on all Black Type Races and on selected Feature Races run in Queensland in the 2019/20 Racing Season.

 

2) What are the benefits of QTISx?

• Each Owner of a QTIS Horse that wins a QTISx Race will have the following options:
1. where the QTISx Race is a Group 1 race, to accept payment of the Owner’s share of a QTISx Bonus of $50,000 (less the applicable amounts paid by RQ in respect of the standard trainers and jockey percentages) or to take double the Owner’s share of the QTISx Bonus in the form of a QTISx Voucher; or
2. where the QTISx Race is Group 2, Group 3, Listed, Restricted Listed or Feature race, to accept payment of the Owner’s share of a QTISx Bonus of $10,000 (less the applicable amounts paid by RQ in respect of the standard trainers and jockey percentages) or to take double the Owner’s share of the QTISx Bonus in the form of a QTISx Voucher.
• Managers of syndicates or partnerships cannot covert a QTISx Bonus to a QTISx Voucher on behalf of Owners. Individual Owners must elect to whether to take their share of a QTISx Bonus as cash or whether to double this share in the form of a QTISx Voucher.

 

3) What is the difference between a QTISx Bonus and a QTISx Voucher?

• If an Owner decides to take their share of the applicable QTISx Bonus as a cash payment, this share will be paid to the Owner in the same way as a standard QTIS Bonus (i.e. through RQ’s prizemoney system).
• If the Owner decides to convert their share of the applicable QTISx Bonus into a QTISx Voucher, RQ will produce a QTISx Voucher in the name of the Owner that can be used by the Owner against the purchases of QTIS eligible yearlings at any of the following sales:
1. Gold Coast Magic Millions Yearling Sale to be held in 2020 and in 2021;
2. Gold Coast Magic Millions March Yearling Sale to be held in 2020 and in 2021;
3. Capricornia Yearling Sale to be held in 2020 and in 2021; or
4. Gold Coast Magic Millions National Yearling Sale to be held in 2020 and in 2021.

• If a QTISx Voucher has not been used by 30 June 2021, then the Owner’s share of the applicable QTISx Bonus will be paid in cash to the Owner.
• Further information on the terms and conditions that apply to the QTISx Bonus and to QTISx Vouchers is set out in paragraph 5 below.

 

4) How do I convert my QTISx Bonus into a QTISx Voucher?

• All Owners of QTIS Horses that win a QTISx Race will be contacted by RQ immediately following the victory to notify the Owners of the QTISx Scheme.
• If an Owner wishes to take their share of the applicable QTISx Bonus as a QTISx Voucher, the Owner must:
1. notify RQ of this in writing within 3 Business Days of winning the QTISx Bonus; and
2. email to RQ a completed QTISx Registration Form to RQ within 20 Business Days of winning the QTISx Bonus.
• Following receipt of the QTISx Registration Form, RQ will issue the Owner with a QTISx Voucher that is double the value of the Owner’s share of the applicable QTISx Bonus.
• If an Owner does not provide written notice within 3 Business Days or email a completed QTISx Registration Form within 20 Business Days, no QTISx Voucher will be issued and RQ will instead make arrangements for the QTISx Bonus to be paid at the earliest available opportunity.

 

5) What are the terms and conditions?

• All QTISx Vouchers issued in the racing season 2019/2020 will be valid to 30 June 2021.
• Where an Owner does not use the full value of a QTISx Voucher against the purchase of a QTIS eligible yearling, RQ will issue a replacement QTISx Voucher for the unused amount, however, a replacement QTISx Voucher cannot be redeemed as cash and if not used by 30 June 2021, will be declared null and void with no further cash payment for the remaining share of the applicable QTISx Bonus payable to the Owner by RQ.
• The full terms and conditions that apply to both the QTISx Bonus and the QTISx Voucher are set out in Racing Queensland’s QTIS and QTISx terms and conditions for 2017 foals for the Racing Season 2019/2020 and are available from this link.