Taxation
Please be aware of the following tax ruling for sportspeople – receipts and other benefits obtained from involvement in sport.
Pay particular attention to examples 7 and 8.
Bowls WA will be asking all bowlers who receive prize money to sign the declaration that the sport is a hobby.
http://law.ato.gov.au/atolaw/view.htm?Docid=TXR/TR199917/NAT/ATO/00001