ATO (Australia) now taxing gambling profits

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Naffman
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Joined: Sun Aug 11, 2013 5:46 am

https://www.ato.gov.au/law/view/documen ... c-Gambling

https://www.ato.gov.au/law/view/documen ... c-Gambling

2 cases where profitable bettors are getting taxed. Hopefully will be reversed on appeal but wouldn’t be surprised if the UK went this way under Starmer.

Attached a pic that summarises why they would be taxed and clear to say that I don’t think any of us would escape it given it seems if you’re profitable and have a spreadsheet then you’re doomed :lol:
IMG_7441.png
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Naffman
Posts: 5977
Joined: Sun Aug 11, 2013 5:46 am

Asking AI it says professional gamblers are taxed in Aus but not in the UK…god bless the Yookay
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