High Court dismisses Godolphin's appeal for tax exemption on horse stud properties in Australia.

The High Court of Australia has dismissed an appeal by Godolphin, a horse stud owned by Dubai's billionaire ruler, seeking a tax exemption for primary production. Godolphin claimed that two properties near Scone and Denman were exempt from rural land tax under NSW state government laws due to their dominant use for primary production. However, the High Court ruled that the dominant use of the land was for Godolphin's horse racing activities, not primary production, making the tax exemption ineligible.