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Paying tax on poker winnings in Australia

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Paying tax on poker winnings in Australia

Postby GodlikeRoy » Mon Oct 17, 2005 7:41 pm

Hey guys

I'm wondering if anybody knows what the current state of the law is in regard to paying tax on poker winnings in Australia. I know that in the USA it's a good idea to keep good records an show it to a tax professional to figure out or something, is that the same in Australia? Because I vaguely recall reading somewhere that poker is considered recreation or something in Australia and you don't need to pay tax on it. I might be way off though.

Any help on the topic would be greatly appreciated.

Thanks
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Somewhere in the world someone is training when you are not. When you race him, he will win.

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Postby Molina » Mon Oct 17, 2005 8:15 pm

I remember a week or so after Hachem won the main event, he was trying to claim that he wasn't a poker pro as otherwise he would have to pay tax. I'm pretty sure he got away with it.

Can't give a definitive answer but the whole recreation thing seems to make sense regarding what I heard about Hachem. Then again if this is the case I'm sure there are no Aussie poker pro, just tons of guys who work in bar for one hour a week or something :wink:

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