Well there's a nice little earner for the ATO without even a days practice at the tennis courts. Hopefully Ash has an accountant that is as skilled at Australian Tax Laws as she is at tennis. By the time the ATO takes its cut of the prize money and then charges Provisional Tax based on possible future earning, Ash m'y have to borrow lunch money from her mum to get by.

Hey Crusoe, she'll be fine considering what she can claim as "business expenses". I think you'll find her taxable income might not be quite so high, and if it is then she'll just be paying her fair share like (hopefully) everyone else. But yeah, her provisional bill might be up a bit in the coming years

There's always centrelink

^^^^ bwahahaha .................... she'll need to make sure all her tax returns are up to date Cauncy

Can a sports person set up a shelf company in a tax haven and become their employee?

I can't see why not, but if they're an Aussie resident then they'll still pay tax here like everyone else so they'd have to effectively leave the country to avoid tax and lots do.

I always wondered if a wealthy person could convert the money to bitcoins and bring it into Australia on a thumb drive. But somewhere it has to go into a bank account to make use of it.

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Harrow said..
Can a sports person set up a shelf company in a tax haven and become their employee?

That's why they all live in Monaco,

On a side note,.. I'm sure she can afford it.,.. If not she could give it away and come work with me.

I saw her three years ago at the State Tennis Centre playing in a 10 K Women's Pro Tour event.

She was playing with Jessica Moore in a doubles event only which they won.

The really old bloke sitting next to me in the stands started a conversation with them after they were returning from a practice session. Both were only too happy to chat.

She was a lot out of condition then. I watched her hit volleys only from 40 metres away and her technique compared to the other girls was from a different planet!