[TommyTommy]

#4442

Help Understanding Tax Rules

sorry fellas, got heaps of questions for yas….

How does tax work? I know Jacinta and our bloody leftie government wants us to be like Norway where we pay tax for absolutely everything so we can fund the lazy c*nts who sit on the dole and do nothing everyday, and I’m sure it’ll be the same in Aussie soon too. As a kiwi living in SA do i need to report any money i make from this to IRD? also what about Aussie tax? if im going to be making an extra grand a week then i’m sure the our socialist government will want to get their hands on my winnings? should i therefore use my aussie or kiwi bank for this? do i just leave it out and not declare it???

What about costs for international transfers if i use my Kiwi account? any Kiwis on here?? if i use my aussie bank do i not then need an aussie state ID?

Just wanna see if this is worth it before i put my cash and time into this… either that or i just stick $2,000 on the Crows to win the flag and cash out before they meet the bloody Pies in the finals lol…

[JP-B10]

#4444

Hi TommyTommy

see below extract from Google mate: (winnings from sports betting is tax-free in Australia)

Gamblers’ winnings in Australia are not taxed. There are 3 main reasons for that: Gambling is not considered a profession, it’s treated as a hobby or recreational activity. The Australian government views gains from gambling activities not as income, but as a result of good luck.

Make sure you have have you Bank statement as verification for all bookmakers and sign up with Betfair First as this takes the longest to verify in my opinion.

Also, I suggest doing sign ups first too get the bank rolling steadily!

Once you have finished sign ups then get onto daily offers. These guys are pretty good at updating daily plays!

Good luck and feel free to ask more questions!

Cheers
JPB

[TommyTommy]

#4446

ye but as a New zealander who lives in Aus and is still tax resident back home??

[JP-B10]

#4447

Not sure how it works but as an ANZAC resident it shouldnt be an issue

[Meggs85]

#4640

With the nrl 4up PointsBet promo and sportsbet 6 up promo, should we back and lay both teams in a match on the seperate bookies or just choose one?

[Richard (MBA)]

#4641

Hi Meggs85

You can do either. It increases your chances of hitting the reload if you back and lay both teams!

I suggest doing that if you have a large bank roll.

The Promo offers will be released on Wednesday for your viewing

Any further questions, feel free to ask!

Cheers.

[Author]

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