Joe to to be rivered by the tax man?
Tuesday, August 09, 2005
I really hope that the Australian tax office does not hit up WSOP winner Joe Hachem for half of his remaining winnings. There's an article in an Aussie paper stating that he may lose 47 percent of his $US 7.5 million if he is classed as a professional poker player.I think it's wrong for a number of reasons.
1. He's already been taxed 30% in the USA. Doesn't Australia have a tax treaty with the US to prevent 'double dipping' of taxes?
2. It's illegall for Australians to play poker online. As a part of it's decision to make online poker illegal, the government deemed that it was primarily a game of chance. So how can they now tax somebody's winings in this 'game of chance'. It would hypocritical to say he uses skill to win at poker when they have already said it is all luck in order to stop people playing online!
3. Would he have been able to claim his $10k entry fee and trip expenses as a deduction if he had lost at the WSOP..... I think not......
It could be a clueless reporter making up half of what is written, but anyway I really hope that he doesn't get taxed again. Or actually, please do tax him, (he'll still make plenty from endorsements) and then let us allow Aussies to play at Poker.com!
Posted at 1:35 AM Permalink | Talk on the Poker Forum
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