Another Bad Article

[FlopNutsOnYou]

Australian and US police to crack down on illegal online poker | Information, Gadgets, Mobile Phones News & Reviews | News.com.au

[vaincross]

Ahhh the hypocrisy of governments still grappling to come to grips with how to profit off this new fangled thing called the Internet whilst still letting the elderly pensioners do their balls at the pokies...

[TurnRiva]

Originally Posted by Starcitybust

Nobody should ever talk to a journalist if contacted out of the blue as more times than none they will paint it in a badlight. Always say no comment. No comment means they have no story to write about except for speculation and you might say a million things good about poker.

quoted for fucking truth

[Baron Vo Mandor]

On the other end of the stick the 2000 players(being generous here) that make money get taxed........

Does this mean that the 200,000 players that have lost money get back as its now tax deductible?

Cunts cant have there cake and eat it too?

[Diplomatic Immunity]

Please don't bring up the tax questions here and make ludicrous statements about laws that have been explained in the past ...

THE TAX OFFICE CAN HAVE IT'S CAKE AND IT EAT IT TOO ! That's what hey do to small businesses every day of the week

[MrRegan]

Originally Posted by Diplomatic Immunity

Please don't bring up the tax questions here and make ludicrous statements about laws that have been explained in the past ...

THE TAX OFFICE CAN HAVE IT'S CAKE AND IT EAT IT TOO ! That's what hey do to small businesses every day of the week

But now you're distinguishing between sole proprietor and LLC structures. An Incorporated organization is entitled to tax credits for losses, but whether the laws will ever recognize poker as an income source and how quickly loopholes in legislature will be sewn up is another discussion entirely.

[chenyan]

Originally Posted by Baron Vo Mandor

On the other end of the stick the 2000 players(being generous here) that make money get taxed........

Does this mean that the 200,000 players that have lost money get back as its now tax deductible?

Cunts cant have there cake and eat it too?

lolz.. This is so wrong it isn't funny. Only those being taxed on their winnings would be eligible for the deduction on losses - and how many will continue playing professionally with consecutive losing years?

You should pay tax on your personal income. The people playing poker for their sole source of income should clearly be playing tax; it's just a matter of enforcement and recognition which is the real problem. Identifying recreational versus business play is such a grey area for the majority that they're doing pros a favour by letting it go.

[JacksonTens]

Originally Posted by chenyan

lolz.. This is so wrong it isn't funny. Only those being taxed on their winnings would be eligible for the deduction on losses - and how many will continue playing professionally with consecutive losing years?

You should pay tax on your personal income. The people playing poker for their sole source of income should clearly be playing tax; it's just a matter of enforcement and recognition which is the real problem. Identifying recreational versus business play is such a grey area for the majority that they're doing pros a favour by letting it go.

What about the idea that poker is already taxed? As a % of the rake in all pots is awarded to the government.

[USUALSUSPECT]

Originally Posted by JacksonTens

What about the idea that poker is already taxed? As a % of the rake in all pots is awarded to the government.

Do you know what percentage of the rake is being 'awarded' to the Australian Government?

Is taxing the service different to taxing the players profit?

As a business if I pay GST on an 'investment' am I then sane to push the idea that any profit my business makes from that 'investment' should be deemed untaxable.

'But the GST on my investment was the tax, Ma'am?

Truth is the Government will double dip, fucking triple dip, if they have legislation to back them.
'Tax the rake, Tax their profit, How else can we get em?' 'It's a big pie, lets get a bigger piece!'

If you want cake at the party, don't ever turn your back on the fat kid -

It's going to be interesting to see which way they choose to go with this. Because it's coming. Just hope they do follow suit like the USDOJ.

A simple way would be the same as a sub contractor. Create a tax bracket for 'Professional Gamblers'. If you are good enough to invest in your own skills -full time- then you should be deemed a Sole Trader. After all you're a professional right? Every other Tom, Dick and Sally in Australia are paying taxes on investments and services rendered.

If you are successful per annum then pay taxes on your investments just as any other Australian does. If you are unsuccessful then you write off losses.

[Diplomatic Immunity]

Originally Posted by JacksonTens

What about the idea that poker is already taxed? As a % of the rake in all pots is awarded to the government.

So is the food you buy at Woolworths, the petrol etc etc ... but we still pay income tax