Although he failed to win in six starts, he did finish third in the 2016 Hong Kong Derby (2000m) behind Werther.
Giovanni Canaletto is owned by Hermitage Thoroughbreds, who also raced the now-retired 2016 Livamol Classic (2040m) winner Willie Cazals.
"Willie had all the time off like this chap is having and that worked the oracle so we're hoping it does again," Scott said.
Willie Cazals returned from tendon injuries to triumph in the Hawke's Bay feature and Giovanni Canaletto is on the way back from similar issues.
Meanwhile, popular northern rider Tayla Wenn is preparing for the transition from jockey to trainer.
The 23-year-old's riding career will take a back seat when she takes over the Byerley Park stables of Scott Lucock and Sally Gillespie, who are moving to senior positions with the Te Akau operation from August 1.
Wenn is currently apprenticed to the duo but is unlikely to continue race day riding.
"I'm going to get a permit to train and my apprenticeship runs out on July 20," Wenn said. "I tried to get an extension but that's difficult to get and it didn't come through.
"I've enjoyed riding and I may still get a senior licence, mainly to ride my own horses at trials. Being a jockey isn't a top priority."
Wenn, who has ridden 13 winners, said Byerley Park offered an ideal location and excellent facilities.
"It's nice and quiet here and I've learned a lot from Scott and Sally. They will leave four horses with me, Sheradream and three young horses."
She finished fourth aboard the one-race winner Sheradream at Ruakaka last Saturday. Wednesday's meeting at Te Aroha may be her last for a while as a jockey.
Wenn's partner is Jack Mackinnon, a junior harness driver and he is also backing the new venture.
"Jack bought two yearlings at the sales, which I'll be breaking in as well," she said.
- NZ Racing Desk