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paulwright
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07-19-2006, 07:03 PM
Post subject: Taxation - USA, UK, Australia
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#1 (permalink)
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Straight
Join Date: Mar 2006
Location: World Citizen
Posts: 130
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If one hypothetically had the choice of basing their tax residency status in either USA, England or Australia - which is more beneficial from a poker earnings point of view?
I would like to hear from Aussies, Brits and Americans who know the answers to their own situations from a tax viewpoint.
The rumors I have heard are that in the US you are required to pay tax on poker winnings, but this is not so in the UK or Australia where it is considered tax free income.
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Miffed22001
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Straight Flush
Join Date: Jun 2005
Location: Marry Me Cheryl!!!
Posts: 8,181
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they havent taxed me yet
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Staresy
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Full House
Join Date: Sep 2004
Location: Following the Herd to 6-Max Land
Posts: 1,240
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Not quite the answer, but an interesting article from the British point of view here .....
Read Me, I'm Good and Stuff
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paulwright
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Straight
Join Date: Mar 2006
Location: World Citizen
Posts: 130
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Thanks Staresy - a great start toward answering the question... interesting article...
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Kits
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Straight
Join Date: Jul 2006
Location: Australia
Posts: 129
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You don't have to pay tax on your income from Poker is AUS because it isn't legal to play poker on the internet for money here. Having said that I haven't heard of one single case where that law has been enforced.
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jameseyb
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Straight
Join Date: Mar 2006
Location: Sapley, Cambs.
Posts: 169
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As far as I can tell (and this is only hearsay from me) if you do not use playing poker as your main source of income (as in a pro declaring his earnings) then you don't get taxed on it in the UK.
I've not been taxed on it yet, but my earnings v. losses is a very small positive figure. I get the feeling that, as soon as you start earning lots, then peope will notice. When that happens, the government will wake up and notice and will want the tax.
When that happens, by Neteller account will get fat and it will stay off shore until I need it for something.
J
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05-26-2012, 03:08 PM Australia Legalized Online Poker coming up in next 6 to 12 Months
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