Does WSOP Tax Withholding Apply to Aussies? - Page 2 - Poker Legislation

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Does WSOP Tax Withholding Apply to Aussies?

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12-07-2010 , 01:18 AM

#26

Nash_equilibria

veteran

Join Date: Apr 2008 Posts: 2,663

Quote:

Originally Posted by jcl

i can safely say now that the tax withholding DOES apply (and it cost me dearly

)

Was 30% of your net winnings withheld permanently?

Quote

12-10-2010 , 01:54 AM

#27

jcl

veteran

Join Date: Sep 2007 Posts: 3,343

yes. as far as i could tell it can only be used as a writeoff against losses but since i only played that one tourney last year that was a non event.

Quote

12-10-2010 , 02:30 AM

#28

FSL009

adept

Join Date: Oct 2009 Posts: 1,172

guys read the posts above.

the 30% withholding is more or less a final tax for non-pro players cause althought it is creditable your only taxed on your wins with no deductions.

if your a pro then you get to work out your net income after various deductions and then credit the withholding tax against your real tax liability.

in most cases the 30% is likley to be permanently withheld.

Dont think I can be any clearer.

Kd FTW.

Quote

04-28-2018 , 02:21 AM

#29

Davecarney99

stranger

Join Date: Apr 2018 Posts: 1

Quote:

Originally Posted by kikadell

how does this effect a dual national (me, australian/british)? if i were to enter on my british passport and won moneys i get it back right?

I'm in he same boat. It's not technically legal. Have you ever tried this?

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