[AusRace] Combined tote pools and tax on gambling winnings

[terry styles]

Hi all,
 
I know of professionals ( to my knowledge not mentioned by name on this list ) that formed companies years ago to voluntarily pay tax. They also traveled extensively with their betting and so claiming costs probably formed part of their decision making process.
 
Terry> From: jeld79 at hotmail.com> To: ausrace at ausrace.com> Date: Thu, 5 Feb 2009 16:30:11 +1100> Subject: [AusRace] Combined tote pools and tax on gambling winnings> > > Hi everyone> > Have a couple of questions/discussion points for the list> > 1 - What has happened to combing the NSW and Supertab pools, i seem to remeber it was on the agenda and there was even a proposed date for them to be combined?? does this sound right I haven't heard about the issue in a while> > 2- Does anybody know of any professional punters that have either had there income declared as taxable, or voluntarily pay some tax on their income. Was chatting with an accountant friend of mine last night (I am also a qualified accountant but no longer work in that field) and we are well aware of the ATO requirements etc for gambling income to be taxable however we feel that the ATO don't care to apply them and no pro gamblers are taxed in australia (easier and bigger fish to fry), are we right? or do some pros in fact pay tax on winnings, Len or duff etc may be aware of somebody who has been declared taxable, from memory some of you have private rulings etc and are tax free >
_________________________________________________________________
It's simple! Sell your car for just $50
http://a.ninemsn.com.au/b.aspx?URL=http%3A%2F%2Fsecure%2Dau%2Eimrworldwide%2Ecom%2Fcgi%2Dbin%2Fa%2Fci%5F450304%2Fet%5F2%2Fcg%5F801459%2Fpi%5F1004813%2Fai%5F859641&_t=762955845&_r=tig_OCT07&_m=EXT