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Highly paid international athletes continually attract the attention of tax authorities and the media with regard to the way that they structure their finances. Similarly, sporting organisations and clubs are also subject to continuous scrutiny with regard to their finances and tax affairs.
The international nature of sport provides a wealth of opportunities for tax planning and also for pitfalls when it comes to tax compliance. Keeping your affairs in order when you are a globe-trotting sportsperson in a multitude of countries is not easy, and many athletes and sporting organisations rely heavily on expert advisers.
This subject is for sportspeople, sports agents, sports administrators and other sporting advisers to expand their knowledge of how to manage their or their client’s tax affairs. The subject should enable students to better identify tax issues and tax opportunities with regard to sporting income and sporting-related financial arrangements.
While the subject has a focus on sporting-related income, it also provides a broad introduction to individual international tax and double tax treaties.
Principal topics will include:
- Income tax aspects of income from sport activities:
- Amateur versus professional
- Special tax regimes for athletes
- Individual sports
- Team sports
- Income tax aspects of other income related to sports activities:
- Publicity on clothing
- Use of products
- Subsidies and grants
- Inducement payments
- Athlete’s image rights
- Income tax aspects of sports clubs and associations
- Taxation of sports events
- Foreign income derived by resident athletes
- Taxation of non-resident athletes deriving Australian source income
- Tax planning aspects for athletes.
Intended learning outcomes
A student who has successfully completed this subject should have an understanding of:
- The tax issues that arise for athletes as a result of their sporting activities and as a result of their other activities
- The tax issues that arise for those who make payments to athletes, including as employees and also general withholding obligations
- The international tax issues that arise as a result of sporting activities
- The capacity for tax planning by athletes.
Last updated: 11 February 2021