- Sep 30, 2014
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- Adelaide
I'm calling bullshit on the beer deductions unless you can refer me to the actual case (law case, not case of beer that was drunk). I've never heard of it.I speak from experience in business. A good accountant will find ways to legitimately reduce tax. Negative gearing and fully-franked dividends are a couple. Set up a home office to run your interests outside of footy income and deduct a proportion of household expenses + a % of mortgage if you have one. There are many other lurks and perks and I'd be astonished if most if not all footballers on high incomes were not privvy to them
Some years ago a brilliant tax accountant in Sydney claimed beer as a deduction for rugby league players because it helped to maintain their playing weight. Disallowed by the tax office, fought the legal battle and it was allowed.
(Edit: well blow me down - http://www.iknow.cch.com.au/#!/docu...supreme-court-of-new-south-wales-06-july-1990 )
And fully franked dividends at that level of income would increase tax payable.
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