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AFL players and other sports stars have won lucrative tax breaks for their fame

ROSS AND JOHN

Some of our wealthiest sport stars are in line for a big tax break.

The Herald Sun has revealed AFL players and other sports stars have been given permission to dump tens of thousands of dollars into low-tax trust accounts.

The Tax Office says it’s compensation for the exploitation of their “fame and image” to promote their sport.

But Paul Drum from CPA Australia told 3AW Breakfast it opens up a can of worms.

“If it is assignable, is it assignable to an offshore entity?” Mr Drum said.

“The opportunities here are quite enormous for tax minimisation.

“I think that the ordinary average Australian worker is going to look on it rather dimly.”

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ROSS AND JOHN
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