World Series Winner Will Keep His
Money
January
3, 2005 (written by Beat The Fish)
Taxes.
Of course, we all wonder how much of
that $7.5 Million payday we would
actually get to take home. Joseph
Hachem, winner of the 2005
WSOP Main
Event, will get to keep it all.
Hachem
won an appeal to the Australian tax
board requesting that he not be
taxed on his winnings because it was
earned from a hobby. You've got to
be kidding, right? Actually, no.
Australian tax law stipulates that
income earned from hobbies not be
taxed and since Joe wasn't a
professional poker player by trade
(he actually worked in the mortgage
business back home) his winnings
won't be skimmed by the government.
This is great to hear as a poker
player.
Never
has it paid more for Hachem to be
from down under. Go Aussie tax
board! Perhaps we should arrange a
meeting between those enlightened
souls and our own loveable IRS who
still classifies poker as straight
taxable gambling...
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Poker News.
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