Rumour Two current AFL stars have lost $1 million each on the punt

[bobs head soup]

this sounds like bs, gambling winnings are not taxable in australia. only possible reasons for going out of your way to pay tax is being a good samaritan or money laundering.

zeljko and his punters club mates got targeted by the ATO and came to an undisclosed agreement, fairly certain the ATO's claim against him was not specifically for gambling winnings, but for running a business as he employed around 80 people (weather info, track info, etc)

NoCookies | The Australian

www.theaustralian.com.au

Gambling winnings are taxable if they're your primary source of income.

 

[flylikeaneagle]

Gambling winnings are taxable if they're your primary source of income.

No, they are only taxable if you're deemed to be operating a business.

Gambling in Australia - Wikipedia

en.wikipedia.org

Gamblers' winnings in Australia are not taxed. There are 3 main reasons for that:

• Gambling is not considered a profession, it's treated as a hobby or recreational activity.
• The Australian government views gains from gambling activities not as income, but as a result of good luck. Even if someone wins big, they also lose a lot in other gambling sessions.
• The government taxes gambling operators instead.[20]

Should gambling gains be taxed as income? - [1995] MurUEJL 22

www5.austlii.edu.au

The Commissioner of Taxation has also stated in an income tax ruling[21] that although it is possible for a mere punter to be carrying on a business of betting, it will be rare for a taxpayer with no connection with racing other than betting to be carrying on a business of betting.


None of the profitable punters I know (poker players, sports and racing bettors) pay tax. Some have even sort their own rulings from the ATO. The only punters I've ever heard of being taxed are Zeljko's punters club which is a multi billion dollar business.

 

[100action]

fu** gambling. A cancer on society. And fu** all the people that think it’s fun.

*ed.

Let's ban any recreational activity that is potentially harmful: contact sports, extreme sports, rappling, skydiving, parachuting, F1, motocross, alcohol, hiking, mountaineering, mountain biking, swimming.

Let's take away everybody's personal freedoms whilst we are at it.

 

[JackOutback]

******ed.

Let's ban any recreational activity that is potentially harmful: contact sports, extreme sports, rappling, skydiving, parachuting, F1, motocross, alcohol, hiking, mountaineering, mountain biking, swimming.

Let's take away everybody's personal freedoms whilst we are at it.

Not even remotely comparable. Gambling companies use insidious marketing techniques bordering on outright falsehoods to lure people in, deliberately target vulnerable gamblers, ban successful gamblers etc. Gambling in its own right is not morally corrupt but gambling as it’s regulated in this country absolutely is. It’s ****ed.

 

[FrankGrimes]

No, they are only taxable if you're deemed to be operating a business.

Gambling in Australia - Wikipedia

en.wikipedia.org

Gamblers' winnings in Australia are not taxed. There are 3 main reasons for that:

• Gambling is not considered a profession, it's treated as a hobby or recreational activity.
• The Australian government views gains from gambling activities not as income, but as a result of good luck. Even if someone wins big, they also lose a lot in other gambling sessions.
• The government taxes gambling operators instead.[20]

Should gambling gains be taxed as income? - [1995] MurUEJL 22

www5.austlii.edu.au

The Commissioner of Taxation has also stated in an income tax ruling[21] that although it is possible for a mere punter to be carrying on a business of betting, it will be rare for a taxpayer with no connection with racing other than betting to be carrying on a business of betting.


None of the profitable punters I know (poker players, sports and racing bettors) pay tax. Some have even sort their own rulings from the ATO. The only punters I've ever heard of being taxed are Zeljko's punters club which is a multi billion dollar business.

I’m surprised at this... I thought if your job was a professional punter you would pay tax... isn’t there a well known Sydney punter Sean bartholow or something?

 

[flylikeaneagle]

******ed.

Let's ban any recreational activity that is potentially harmful: contact sports, extreme sports, rappling, skydiving, parachuting, F1, motocross, alcohol, hiking, mountaineering, mountain biking, swimming.

Let's take away everybody's personal freedoms whilst we are at it.

Don't forget coca cola, and sitting in chairs also.

 

[flylikeaneagle]

Not even remotely comparable. Gambling companies use insidious marketing techniques bordering on outright falsehoods to lure people in, deliberately target vulnerable gamblers, ban successful gamblers etc. Gambling in its own right is not morally corrupt but gambling as it’s regulated in this country absolutely is. It’s f’ed.

This applies to pretty much the entire marketing industry.

Does drinking coke really lead to partying with hot chicks? Does bunnings warehouse really have the cheapest prices? Is maccas 100% pure Aussie Beef actually aussie beef?

 

[flylikeaneagle]

I’m surprised at this... I thought if your job was a professional punter you would pay tax... isn’t there a well known Sydney punter Sean bartholow or something?

Bartholomew is a former bookmaker now punter who still has deep ties to the industry. Pretty sure he employs his own team, he may even sell tips or racing data. He would be deemed to be operating a business.

But if you're a solo operator sitting in front of a few screens in your own home (not renting office space or employing anyone), even if you're making several hundred k a year, you most likely won't be.

 

[Hellobill]

zeljko and his crew get rebates from the tabs, a percentage of turnover , in many cases thy just try and break even on the betting and heir profit is the rebate 6%-10%, the ATO argued that is not gambling revenue but a business arrangement and payment hence taxable.

 

[JackOutback]

This applies to pretty much the entire marketing industry.

Does drinking coke really lead to partying with hot chicks? Does bunnings warehouse really have the cheapest prices? Is maccas 100% pure Aussie Beef actually aussie beef?

Claims by Bunnings and Maccas are testable and they can be fined if they are lying. Also, I drink coke and get all the hot chicks. But seriously, it is a marketing problem, marketing is ******* evil, but it’s exacerbated when the product in question is life-ruining. I’m happy for people to gamble but the campaigners shouldn’t be allowed to advertise, just like smoking.

 

[flylikeaneagle]

Claims by Bunnings and Maccas are testable and they can be fined if they are lying. Also, I drink coke and get all the hot chicks. But seriously, it is a marketing problem, marketing is ******* evil, but it’s exacerbated when the product in question is life-ruining. I’m happy for people to gamble but the campaigners shouldn’t be allowed to advertise, just like smoking.

A maccas burger never looks like the one in the commercials, the beef in their patties is at least in part imported, the vast majority of bunnings products are exclusive model numbers to bunnings so it isn't possible for anyone to offer a competing price on that specific model number, all very deceptive practices that are deemed legal.

I agree with you on advertising. Casinos don't really get to advertise to minors, bookies should be the same.

The other thing is when it comes to problem gambling, problem sports bettors are massively dwarfed by problem pokie players by a factor of 5-10. The media often spruiks phrases like "sports betting is the fastest growing sector of the gambling industry" which while true, would be like targeting cider drinkers over the past decade because they're the fastest growing sector of the alcohol industry, to kerb problem drinking.

 

[1970crow]

this sounds like bs, gambling winnings are not taxable in australia. only possible reasons for going out of your way to pay tax is being a good samaritan or money laundering.

zeljko and his punters club mates got targeted by the ATO and came to an undisclosed agreement, fairly certain the ATO's claim against him was not specifically for gambling winnings, but for running a business as he employed around 80 people (weather info, track info, etc)

NoCookies | The Australian

www.theaustralian.com.au

They are if you’re doing it as part of carrying on a business. Rare, but not specifically excluded.

Legal Database

RULING

www.ato.gov.au

 

[Hawker55]

They'd still spend time working on skills.

Now you just chuck the ball and the umpires let it go because the most important thing is to keep the ball moving.

Mate I have no idea what point you are making but I can guarantee you that training loads from full time professional footballers are much greater now than 30 years ago when players trained 2/3 times a week after their day jobs.

 

[HairyO]

Mate I have no idea what point you are making but I can guarantee you that training loads from full time professional footballers are much greater now than 30 years ago when players trained 2/3 times a week after their day jobs.

Required training loads sure. But many players in the past spent hours and hours outside of the standard training sessions working on their own or in small groups.

BTW: 30 years ago is when plenty of players stopped having other day jobs because they started making serious money.

 

[Leaveit2charlie]

Claims by Bunnings and Maccas are testable and they can be fined if they are lying. Also, I drink coke and get all the hot chicks. But seriously, it is a marketing problem, marketing is ******* evil, but it’s exacerbated when the product in question is life-ruining. I’m happy for people to gamble but the campaigners shouldn’t be allowed to advertise, just like smoking.

Go out into the suburbs. Coke and McDonald's should not be able to advertise. That 30 kilos does ruin peoples lives.

There's plenty of warning about the dangers of gambling and you can place restrictions on deposits and losses. I'm just not seeing how people get into strife if they have any degree of commonsense.


Sent from my iPhone using Tapatalk

 

[burge13]

Other than banning winning punters I've no idea why people have such a vendetta against sports betting. IF you're willing to put in the time, you can win. The losers don't & it shows in their results. You eat what you kill...

Weak minded people want to have everything banned because someone might get hurt. Let's install breatho's in cars before we start crying about dumb people losing money...

 

[Cuzz09]

Yep Ive given up the punt because I was s**t at it and was losing more than I could afford to.

Im not stopping other people having a bet.

I do notice how many ads/promos there are these days though... never really noticed them before as I was so into it.

Weird.

On SM-G925I using BigFooty.com mobile app

 

[TwiggleyFanClub]

Also, I sell coke and get all the hot chicks.

 

[JohnZ]

I’m surprised at this... I thought if your job was a professional punter you would pay tax... isn’t there a well known Sydney punter Sean bartholow or something?

Generally the professional poker players in Australia will pay tax on their match fees (When they're bankrolled by someone else and get paid a match fee + get a cut of the profit), but not on any profit made from the game itself.

 

[BringBackTorps]

You must be extremely sheltered to think gambling is a "Working class" problem.. Geeez, I bet you loved Kath & Kim..

It is well known that working class & lower socio-economic areas (not necessarily synonymous) areas are significantly over represented (on a per capita basis) in the numbers of poker machines in their areas.
Also, Hawthorn FC, in Melbourne's comfortable eastern suburbs, has often been noted as having the vast % of its very large no. of poker machines in Melbourne's western suburbs- which is a much lower socio-economic area.

Also, it has been reported that regular weekly punters on horses, dogs, pokies etc are, overwhelmingly, from below average socio-economic backgrounds.
(Many punters from other backgrounds, however, also have a bet on an occasional event eg Melbourne Cup).

Sadly, punters from lower socio-economic backgrounds are more likely to bet a higher % of their net weekly wages, cf to more middle class/affluent punters.

Apart from academic studies enunciating the above preponderence of lower socio-economic gamblers, a visit to poker machine venues & TAB's also, seemingly, support these studies ie by standards of dress.
All generalisations, of course- but still accurate.

By AFL players gambling & losing significant sums, they may also be tempted to bet on AFL matches to "recoup" their losses- acting on inside information about their own clubs; or using their "expert Knowledge".
Also, they might become targetted by crime gangs to "play dead" etc in their own games.

Should the AFL also ban AFL players from gambling more than 1% of their net wages on non-AFL activities (betting on AFL matches is, of course, illegal)?
The Draft system takes many players away from the "protective environment" of their home town family & close friends.

 

[Seeds]

Sportsbetting and Pokies are two different beasts. With education you can make money from sports betting. Pokies are nothing more than a lottery.

Plenty of people have lost massive coin on other investment type activities are we going to call for a ban on those too.

Sports betting is just a wealth transfer with an added middleman who doesnt do any productive work that benefits others. For every winner theres a bigger loser and a bookie taking his cut. Buying shares on the other hand helps provide funding so companies can grow, provide jobs and capital. Far more people win then lose and even those who arent involved in the purchase win through more jobs and cheaper costs.

They arent comparable.

 

[gingernuts]

The AFL claim that 4% of its players gamble.The real figure is 30% at least, coming from an ex-player working to help players.
McLachlan has his head buried in the sand and just wants the corporate sponsorship. It is a fooking disgrace, he has to go

 

[Cotchins Hair Piece]

The AFL claim that 4% of its players gamble.The real figure is 30% at least, coming from an ex-player working to help players.
McLachlan has his head buried in the sand and just wants the corporate sponsorship. It is a fooking disgrace, he has to go

I think it’s become apparent, especially over the last few years, that the AFL is actually being run by the betting agencies.

 

[gingernuts]

I think it’s become apparent, especially over the last few years, that the AFL is actually being run by the betting agencies.

Yep I agree but is is so hypocritical.A couple of years back there was an AFL development squad training near the spportsclub/TAB I was in at the time. These 16/17 kids all dressed in the AFL gear entered the venue and lined up at the electronic betting machines.I thought at the time that it does not seem right and surely the AFL would black ban the gambling as part of the development of these kids

 

[Hamingja]

The AFL claim that 4% of its players gamble.The real figure is 30% at least, coming from an ex-player working to help players.
McLachlan has his head buried in the sand and just wants the corporate sponsorship. It is a fooking disgrace, he has to go

4% gamble or 4% gamble excessively?

Surely like 90% of them gamble if you have ever played team sports at the lower level for a frame of reference.