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How many punting losses will now be claimed against tax?
How many punting losses will now be claimed against tax?
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Replies: 84
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Spoon why don't you contribute something meaningful or is that beyond your wit?
I recall I posted betfair would lose their appeal. And that Dunaden was outstanding value for the Cup when he was about 40-1 or more. |
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Piss off, dickhead. Here's your problem..........
 CREDIBILITY...............ZERO All Black Date Joined: 10 Jan 03 23 Nov 11 03:37 Joined: 10 Jan 03 | Topic/replies: 1 | logroller and doubleagent, are you that insecure. Happy comes up with a terrific thread and a very important one. Your replies are rude. He bats you back into touch which irks you. He also seems to have a decent command of the English language of which you seem envious, and your only resort is to be lavatorial or adopt the stance of the schoolground bully. Good on you Happy for holding your ground and persevering with good, very enjoyable thread. I'd forgotten all about this upcoming appeal and the possible consquences. logroller 23 Nov 11 04:32 Joined: 20 Feb 03 | allblack, get a room with happy.................. how the fck did u detect envy ffs, let me ask u this, what did the condescending happyvalley contribute to the thread besides pose the question? besides his ill informed opinion and his exaggerations. Rate reply: | report block user THERE....IS....NO....SPOOOOON 23 Nov 11 04:36 Joined: 14 May 09 AllBlack, aaaaaaaaaalways shootin off your mouth First post in NINE YEARS Happy Valley 26 Nov 11 04:38 Joined: 20 Jul 02 | Topic/replies: 1,292 i don't bother to post, usually, because of what is it Happy calls you, yes ignoramuses like you and let's face it, you are really one and the same, Spoon, Log, DoubleAgent Amongst other things, Happy makes it very clear to me the problems of operating on low margins and making a proper contribution to racing and the inherent contradiction therein. You babble along your endless, witless insults and are guilty of your own accusations, no meaningful, positive contribution, just destructive insults that eventually bring all interesting, worthwhile threads to a halt and act as a general barrier to intelligent, meaningful discussion on this and other forums Joel 26 Nov 11 04:40 Joined: 14 Feb 04 I have nothing against you Happy, but why are you talking about yourself in the third person Gives me a chuckle to this very day NINE YEARS of waiting for the right opportunity to use your otherforum name and you fk it up logging in.....immediately |
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Nice work Spoon!!
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I don't wish to throw it in his face, but when he comes across all highbrow and pompous.....
seems he needs reminding that we remember  He did ask for something meaningful  .... it says alot imo |
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He's a halfwit. One of the DUMBEST c*nts to ever post on here.
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What about me?
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as per usual you are quite wrong - i do not have another forum name.
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and unlike you guys, i'm not stupid enough to think i know everything
quite where this pompous and highbrow comes from is a mystery maybe you just don't like your own schoolground bully mentalities exposed |
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and what's more if you think i waited nine years to waste a secret forum name on you, you really do suffer from delusions of grandeur
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Oi, toolbag. I have no such illusion, it wasn't wasted on me, you wasted it ....... defending yourself
Happy Valley 26 Nov 11 04:38 Joined: 20 Jul 02 | Topic/replies: 1,292 i don't bother to post, usually, because of what is it Happy calls you, yes ignoramuses like you and let's face it, you are really one and the same, Spoon, Log, DoubleAgent Amongst other things, Happy makes it very clear to me the problems of operating on low margins and making a proper contribution to racing and the inherent contradiction therein.  Care to explain otherwise? |
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Very sorry HV but I can't say anything in your defence or even anything about Mr Spooons posts to you, please accept my apology
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I can't agree with Happy Valley that this case will open the floodgates for claiming losses. It would be rare for any continued claims for losses to be accepted particularly gambling losses.
However this whole issue is not as black & white as some forumites have suggested. Until the Walsh/ZR matter is heard before the courts then IT2655 & the Babka case (although recent Stone case is more relevant) still set the criteria for determining whether gambling is a business. Whilst the criteria hasn't yet changed the gambling industry has changed significantly. With BF it is now possible to trade or arb in some cases using software tools which minimise the risk of losses to low levels. This makes the activities of some punters akin to share trading. There are plenty of share traders which are conducting a business and pay tax on profits or claim losses on trading. I would expect that any high volume repetitive betting activity particularly involving software could be considered a business. I doubt there are many traders left here after turnover fee but anyone making a living from such activity should be concerned about the action taken in this case and hope they don't get a knock on the door from authorities. |
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You're right Kye, it wont open the floodgates for claiming losses.
The outcome of this case will change absolutely zero. I'm not sure where the idea came from that this will set some sort of precedent. Punters don't decide whether they can be taxed or not, the ATO do. |
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I doubt there are many traders left here after turnover fee but anyone making a living from such activity should be concerned about the action taken in this case and hope they don't get a knock on the door from authorities.
kye, my experience is that the ato won't tax traders on betfair because betfair only has a 'gambling licence' not a 'financial licence'. therefore all 'trading' on betfair is still deemed as gambling'. |
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i think the ATO would be more interested in what he does with his winnings rather than how it it was accumulated. he must have investments, even a few million in the bank would earn a taxable income
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iz77778, i don't think that is a determining factor at all. In view of their current activities I reckon if you asked for a ruling with the facts that you make $100k on average a year using a software program that makes thousands of transactions each year & you had no other means to support yourself then i doubt you would get the ruling you wanted.
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now if the govt taxed winnings such as lotto and scratchies and keno and raffle prizes - well that would be a different kettle of fish imo
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kye, that was the ruling i got from the ato.......
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Didn't David Walsh have a ruling too?
Cool that you have ruling but facts must be exactly as put forward for you to rely on it but they can also change view over time particularly in an industry they wouldn't understand so you may not get same answer now. |
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The ATO do not want to tax punters.
They realised $900m slipped through their fingers, and now they are trying to change the rules to get it back. Nothing more, nothing less. |
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I agree with DT.
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very glad we've returned to the issue at hand
(spyvspy (whoever you are) - i am perfectly willing and able to take care of myself and am baffled by your post) |
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I'm sure you are HV and I think Mr Spooon wasn't baffled by it though
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730 replies in 6 weeks ..says it all
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Apologies if you were offended by any of them Mr Aachen
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very glad we've returned to the issue at hand
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I still want to know how every Self Employed person only makes 10k a year but live a Great Life, Have the best of everything.
They are the People Govt need to look at |
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cash, companies and tax write offs LLyody
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Yer then Cry when Declined a Loan.
Just Glad no more Low Doc Loans and Owner Builder loans anymore. Only people paying Taxes correctly are people working for Companies. Its the biggest Rort in Australia Every wont say the Nationality Restaurant runs at a Loss. But all drive Latest BMWs and pour 10000000000s into Pokies and Casino or send Money overseas. No wonder all the Hard earners all losing Jobs. Lloydy |
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LTM - have to agree about the unfairness of tax. It is the same in the UK where so many of the biggest companies "legally" avoid their tax obligations yet the relatively low-wage earners pay evert cent via PAYE schemes.
SpyvSpy - I don't know whether to be amused or insulted if you think I am Hats Aitken. I am neither he nor All Black. I did help Hats get his job though. There's a clue. When I next see him I'll tell him and I'm sure he'll feel equally amused/insulted. |
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aachen • September 18, 2012 5:31 AM BST
730 replies in 6 weeks ..says it all Report• Quote • Block User spyvspy27 • September 18, 2012 5:55 AM BST Apologies if you were offended by any of them Mr Aachen HV, I think you misread my post, it was to poster aachen |
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Spy - yes I was just about to come on and clarify but you've beaten me to it. I was confused but the scales have now fallen from my eyes. Thank you.
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And Hats will be mightily pleased to hear I wasn't confused with him - and me, too!
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No problem Mr Valley
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am neither he nor All Black.
Priceless |
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yes that would seem right to someone like you Spoon who knows the price of everything and the value of nothing
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All Black
Date Joined: 10 Jan 03 23 Nov 11 03:37 Joined: 10 Jan 03 | Topic/replies: 1 | logroller and doubleagent, are you that insecure. Happy comes up with a terrific thread and a very important one. Your replies are rude. He bats you back into touch which irks you. He also seems to have a decent command of the English language of which you seem envious, and your only resort is to be lavatorial or adopt the stance of the schoolground bully. Good on you Happy for holding your ground and persevering with good, very enjoyable thread. I'd forgotten all about this upcoming appeal and the possible consquences. logroller 23 Nov 11 04:32 Joined: 20 Feb 03 | allblack, get a room with happy.................. how the fck did u detect envy ffs, let me ask u this, what did the condescending happyvalley contribute to the thread besides pose the question? besides his ill informed opinion and his exaggerations. Rate reply: | report block user THERE....IS....NO....SPOOOOON 23 Nov 11 04:36 Joined: 14 May 09 AllBlack, aaaaaaaaaalways shootin off your mouth First post in NINE YEARS Happy Valley 26 Nov 11 04:38 Joined: 20 Jul 02 | Topic/replies: 1,292 i don't bother to post, usually, because of what is it Happy calls you, yes ignoramuses like you and let's face it, you are really one and the same, Spoon, Log, DoubleAgent Amongst other things, Happy makes it very clear to me the problems of operating on low margins and making a proper contribution to racing and the inherent contradiction therein. You babble along your endless, witless insults and are guilty of your own accusations, no meaningful, positive contribution, just destructive insults that eventually bring all interesting, worthwhile threads to a halt and act as a general barrier to intelligent, meaningful discussion on this and other forums Joel 26 Nov 11 04:40 Joined: 14 Feb 04 I have nothing against you Happy, but why are you talking about yourself in the third person??? Spare us your dribble, AllBlack....... Answer the question that was asked many times. |
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NO ANSWER???????
Gee that light goes out quickly when you face the truth yes that would seem right to someone like you Spoon who knows the price of everything and the value of nothing What we all do know is... You are insecure enough to use a separate forum account to back "yourself" up. You are stupid enough to expose your ruse, almost immediately. You are dishonest enough to deny it.  |
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Spoon I know you aren't the sharpest implement in whatever passes for your canteen - demented, insecure and inadequate but not sharp - but how many times do you have to be told? I am not All Black.
In an odd way I may miss your stalking-like attention when I post on the Aussie forum but you will probably be happier if you leave quietly and try to come up with something constructive and original to say on a thread, rather than hijacking it with your misplaced insults and slurs which reveal far more about you than me. |