deershooter Posted March 5, 2014 Report Share Posted March 5, 2014 If you were to win some money in the Dubai shoot like $15,000 would you have to pay tax on it ? Deershooter Quote Link to comment Share on other sites More sharing options...
Hamster Posted March 5, 2014 Report Share Posted March 5, 2014 Good question, I have always pondered this but I think the only realistic way the taxman can insist on a portion is if you're registered as a professional shooter since that is what other sports people have to do. Otherwise there would be no way of recouping back costs attributable to your shooting. If I ever won $140k the taxman would be welcome to pay me back the other $100k it has cost me to get there in the first place ! Quote Link to comment Share on other sites More sharing options...
Will Poon Posted March 5, 2014 Report Share Posted March 5, 2014 Who's to know ? They must payout the winnings into your bank account like they did with the registration money . Quote Link to comment Share on other sites More sharing options...
Balian Posted March 5, 2014 Report Share Posted March 5, 2014 I don't believe you would pay tax on it, unless shooting would be classed as your trade and daily income. It would be similar to entering your local golf club tournament and winning, you wouldn't pay tax on it. Quote Link to comment Share on other sites More sharing options...
deershooter Posted March 5, 2014 Author Report Share Posted March 5, 2014 But first place is $140,000 does that make a difference ? Deershooter Quote Link to comment Share on other sites More sharing options...
PhilR Posted March 5, 2014 Report Share Posted March 5, 2014 Prize money in Spain and Italy I've won has had a deduction for tax made before being paid out. Quote Link to comment Share on other sites More sharing options...
Jega Posted March 5, 2014 Report Share Posted March 5, 2014 (edited) Probably easy to register as a professional with the tax man in order to maximise your allowances ,travel including a vehicle, ,acommodation,guns and related equipment.Along with any other expenses incurred . Edited March 5, 2014 by Jega Quote Link to comment Share on other sites More sharing options...
Hamster Posted March 5, 2014 Report Share Posted March 5, 2014 Probably easy to register as a professional with the tax man in order to maximise your allowances ,travel including a vehicle, ,acommodation,guns and related equipment.Along with any other expenses incurred . Tell them about the shells and entry costs, you'd be making a fair bit without even winning. Quote Link to comment Share on other sites More sharing options...
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