19 Sep 2019, 22:26 (Ref:3928984)
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#144
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Veteran
Join Date: Feb 2004
Posts: 2,837
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Quote:
Originally Posted by mayhem
At least Dave's tax return that year was propped up, that extra $25k business expense would have been significant.
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Possibly not - at least according to the ATO.
Legal expenses, fines and penalties
Fines and penalties for on-field conduct and legal expenses, including those relating to a tribunal decision, are generally tax deductible to the player, where they result from their performance as a player and as part of the sporting activity.
However, fines, penalties and legal expenses for off-field breaches of conduct are not tax deductible.
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"Your biggest auto race may one day become a Camaro playground", Chris Economaki, Bathurst 1979
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