The alliance protesting the Queensland State Government's distribution treatment of the new 15% Point of Consumption tax and lack of funding to the thoroughbred code has decided to suspend proposed strike action.
The group made up of trainers, jockeys, owners and breeders had been planning to strike on the important meeting of the Cox Plate on October 27th and Melbourne Cup on November 6th.
The alliance met with Queensland Racing Minister Stirling Hinchliffe and Treasurer Jackie Trad for two hours on Tuesday.
In a statement on Thursday night the alliance said it had decided to suspend strike treats for the time being.
"We are very pleased with the way the Government has listened and recognised our concerns since our meeting on Tuesday with the Deputy Premier and the Racing Minister," the alliance said.
"Negotiations are proceeding well, and we are quite confident that the Racing Queensland team is getting closer to achieving a positive outcome."
"Our goal has been from the outset to obtain a better deal for the thoroughbred racing industry, a deal that can restore confidence through an immediate boost on returns to participants through prize money increases."