Quote:
Originally Posted by bundy5
Off the top of my head I can't think of any federal tax that has been introduced recently in the last 10 years or so that has been retrospectively applied.
Maybe not an entirely new tax, but there are often retrospective tax laws that increase liability, or impose new liabilities, etc within the framework of existing taxes (which is what we would be talking about here with income tax). The petroleum resource rent tax was back-dated to 1990, and I think there were amendments to the transfer pricing regime that were to give it a seven year retrospective effect (they were certainly proposed - can't recall if they were enacted). Anyway, the point is that retrospective tax laws are actually pretty common - they are a recognised exception to the general notion that Parliament ought not to legislate retrospectively. The tax office even deals with the question up front on its website:
https://www.ato.gov.au/General/Tax-a...e-legislation/
But to focus on the issue - I agree that the prospect of a legislative response to this issue (prospective or retrospective) is 0%.
It is simply not a question of a blanket rule. Some people's gambling winnings will be classed as income, most people's won't. It depends if your gambling can, in accordance with existing case law and general principles, be classified as a "business". I can see no reason why some poker players would not be classified as a business. Equally, the vast majority will not be.
It is not a question susceptible of a universal answer. It will always depend on the facts.