It's an interesting article but if you read it carefully it is about a guy who is on unemployment benefits who is earning money from league and the occassional tournament.
It does pose an interesting arguement, earning money from a hobby irrelevant of how little you earn can be deemed to be an income. Does that mean if I buy a $2 lottery ticket and win $4 I need to declare it as earnings? I don't think bowling fits into this catergory but maybe a court will.
As for tournament bowling, I have had numerous conversations with my accountant about this subject and his ' Personal Opinion' was as long as I'm not collecting any benefits from the government (which I'm not) and whilst it's not deemed to be a professional sport in this country (ie no registered professional organisation) bowlers do not have to declare their earnings. I'm not stating what I currently do, just pointing out his opinion.
I know of a high profile female bowler who does but her reasons for doing so I believe are for other reasons. I'm sure Carl Bottomly could contribute towards this conversation as he currently works for the Australian Tax Office.
There is also a loop hole I believe if you have and keep International bank accounts. I'd like to know more..........
Carl, your unofficial response would be appreciated.....
