Premier Peter Gutwein has stated he will announce a restart date on Friday.

If racing gets the green light, there is speculation it could resume as early as Sunday week or possibly a week later on May 24.

However other sources are tipping a mid-June restart.

O'Neill, who has had a significant involvement in Tasmanian racing for almost two decades and currently has horses with Spreyton trainer Adam Trinder, said anything later than May 24 would be unacceptable.

"My horses are ready to race now - we've put a lot of money into them and we've been stuffed around for too long," he said.

"If the ban on racing isn't lifted by then, I'll be recommending all my horses are moved to Victoria - and I personally won't be back.

"I've left before and returned but I won't be this time.

"And, I will no longer be buying horses at the local sale where I spend $100,000 or more every year.

"I spend another $200,000 a year down there on training and spelling fees.

"And, 70 per cent of my Tasmanian-based horses are raced by interstate owners who travel to the state to watch them race and spend a fortune while they're there.

"But if the Tasmanian government is not prepared to support its own state, then why should I?"

O'Neill said that the government's assistance package - just lifted from $38 to $45 a day for thoroughbreds in work - covered only half the training costs.

"I've got no choice but to try to get some money for my owners," he said.

"Their horses are ready to go.

"They could race tomorrow - the suggestion that it will be four weeks after a restart date is announced before any horses are ready to race is just crap."

One of Tasmanian racing's highest profile participants has dramatically scaled back the training side of her operation because of the shutdown.

Trainer-jockey Siggy Carr, one of the leading female riders in the country, is sending eight horses to Canberra this week, having already relocated two to Victoria.

"I've got more ready to leave next week but that will now depend on what date the Premier announces on Friday," she said.

"If the restart is still four to six weeks away, I won't change those plans - they'll still go."

Carr will keep about 16 horses at her Oatlands property but only those that are still being educated or are not quite ready to race."

The head of the peak harness racing participant body says he remains baffled by the decision to stop racing.

BOTRA president Barrie Rattray said racing posed no threat to the wider community.

"We are not a body-on-body industry and there is no need for anyone to breach social distancing regulations," he said.

"Places like Bunnings and the K Mart are a greater risk than racing.

"And we were shut down before they shut down the sex industry - work that out."

Rattray said the delay in announcing a restart date was also very frustrating.

"They've been slow to look at the (new protocols) package and given us no feedback whatsoever," he said.

"I think the Health Department has a lot to answer for."

Thoroughbred Advisory Network chairman Merv Hill said the industry had been "blindsided" by the shutdown decision but was now ready to resume.

"We have prepared and submitted a plan that addresses all the necessary protocols and poses no risk to the community," Hill said.

"This is a good news story waiting to burst out ... an industry has helped itself and is now ready to get back to work."