Padel Tennis Ireland Ltd’s Post

🥇🇦🇺📊 Income Averaging Some of Australia’s Olympians do it pretty tough financially, especially those competing in the sports which don’t have a full time professional option. 💡 A little known perk for sportspeople is the ability to average their income for tax purposes over 5 years. 🧐 To qualify you need to either be a sportsperson or an author, inventor, performing artist or (strangely) a production associate. 🏇 The definition of sportsperson is pretty broad and would cover everyone competing at the Olympics, including equestrian riders, rowing coxes and skateboarders. 🇦🇺 You also have to be an Australian resident to qualify, so the overseas F1 drivers who compete here can’t average out their Australian income, nor Taylor Swift. 📈 The regime silos the income from the professional activities (eg salary plus endorsements plus prizes) and related deductions. You can’t average a capital gain from selling an investment property, for example. 📊 The effect of the regime is to push out the income, smoothing the effect of sudden increases. ❓One interesting point is that a person is defined as a sportsperson if they compete in a sporting competition. Query whether a person who is injured for a whole financial years meets that definition - surely they should be in the regime, but maybe not… #taxlaw #incometax #internationaltax #olympics #sportslaw

Significant international expansion planned for 2025 at Tullamore-based Future Ticketing. The software firm has invested over €2m and now employs 43 staff, developing a sports ticketing software platform that has gained traction in the Irish and UK markets, as well as now working with new international clients in locations including the US, France, Australia and Senegal. Having started in the horse racing industry, clients include Punchestown Racecourse & Event Venue, Aintree and Cheltenham, with football, basketball and cricket all growing markets. Enterprise Ireland supported the business early on, with the business joining their HPSU programme, and working with them on their expansion into the UK market and opening of their Manchester operation. Read more in the Business Post (photo credit Jeff Harvey): https://lnkd.in/d5T5bank #MidlandsICT #midlandsadvantage #tech #sportsindustry #ticketing #SaaS #software #tech #futureticketing #sports #sport #horseracing #football #euinmyregion #expansion #international #newmarkets #growth Midlands Regional Enterprise Local Enterprise Office Offaly Midlands Ireland

The approximate $70 to100 million the PGA of America Member profits from PGA Championship and Ryder Cup each year goes towards: Approximately $65 to 95 million of PGA of America Members money goes towards paying for the following: ●Compensation Administration ●Compensation Staff ●Compensation of Board and District Officers ●Career Services ●DEI Programs ●Amateur Tournaments ●Kitchen Aid PGA Senior Championship (Subsidize by PGA of America Members) ●KPMG Womens PGA Championship (Subsidized by PGA of America Members) ●$5 million goes towards deferred compensation. (Understand the PGA of America Member dues covers most of that.) (Understand the CEO was paid $3 million a year with PGA of America Members money.) ●Education Programs (PGA of America Members tuition fees cover most of costs as required by IRS) ●Club Professional Tournaments (PGA of America Members entry fees and sponsorship money cover most of the costs as required by IRS) Result: ●PGA Members Compensation Packages have not kept up with the rate of inflation. ●PGA Members Compensation Packages have not grown at a faster rate than CMAA or GCSAA Members ●CMAA operates at approximately $10 million a year. ●GCSAA operates at approximately less than $10 million a year. HOW DO WE MAKE IT BETTER FOR PGA MEMBERS? SUGGESTIONS (Possible Solutions) 1. SWITCH TO FOR PROFIT (Giving PGA Members access to profits. Work out a deal with the IRS) 2. WORK WITH PGA TOUR MORE AND COPY THEIR PENSION FUND (They are 501 C6 and have a healthy pension fund) 3. CUT PROGRAMS THAT SHOW NO DIRECT ROI TO PGA MEMBERS 4. COPY CMAA AND GCSAA OPERATING SYSTEMS (Eliminate all wasteful programs that don't directly benefit Compensation Packages of PGA Members.)

Olympic Medals!! Did you know that the cash prizes awarded to athletes for winning—$37,500 for gold, $22,500 for silver, and $15,000 for bronze—could be taxable? Most people are unaware of this aspect of income taxation. For many Olympic athletes, considering the services of a wealth advisor, CPA, marketing team, or estate planner is crucial. Winning big not only brings fame but also catches the attention of the Internal Revenue Service. Additionally, host countries impose taxes on these prizes, requiring many athletes to file and pay taxes in those nations as well. French taxes may also come into play. If you're an Olympic athlete navigating these financial complexities, it might be wise to reach out for expert advice. #taxes #Olympics 4WEALTH® Financial Group, LLC #incometaxes #CPA #estateplanning 4Wealth Marketing, LLC

⛳ Golf Course Reports Reduction in Costs and Rise in Memberships ⛳ Council was presented an update on the operation of the Leeton Golf Course for the 2023/24 financial year at the August Ordinary meeting. There has been an increase of 3,574 rounds of golf played which is a pleasing result and reflects the excellent condition of the course in general. Manager Open Space & Recreation, Josh Clyne, said that total golf course memberships increased by 12, from 259 (2022/23 financial year) to 271 (2023/24 financial year). “It’s great to see young people getting more involved in the sport with junior memberships increasing by 4 and 18-29 memberships increasing by 3, making up more than half of the new memberships. “Furthermore, Council is pleased to report a reduction in operating costs of $48,535 compared to the 2022/23 budget year. Council had budgeted for a $120K annual operating deficit however the net operating deficit came in at only $66,579,” he said. ➡️ Full details here: https://lnkd.in/eaF4Ah2T #LeetonShireCouncil #CouncilNews #NewsUpdate

Hasn’t the Olympics been exciting! Well done to all our medal winners in rugby sevens, men’s triathlon, sailing and especially rowing! And there’s more action to come. Now, while it might not be the same as a gold medal, our industry has also had some great wins and BAU (aka business as usual) continues at pace. Last Tuesday was a historic day for our organisation with the Board formally adopting a new constitution and governance structure. The new constitution introduces a single national membership structure, supported by regional branches and sector groups. This replaces the current system, built around four separately governed regional associations with one focused on sector advocacy and delivering member priorities. Transporting New Zealand’s national membership will now directly elect board members and sector group representatives at national elections – the first of which will occur in Napier on 4 October 4. The governance changes will help ensure that our organisation remains effective, relevant, and fit for purpose, and also ensure that we comply with the Incorporated Societies Act. In long awaited news, Transport Minister Simeon Brown announced The Land Transport (Drug Driving) Amendment Bill will be sent to the Transport and Infrastructure Select Committee for consideration after its first reading. The push for roadside drug testing legislation came from the Road Transport Forum, our previous incarnation, years before I joined. This news is welcome and it is a credit to many of the leaders we’ve had before that some of these things are finally coming to fruition. Anything that makes the roads safer is excellent for truckies and all road users. It’s vital that police have a system to get drugged drivers off our roads. It’s also a timely reminder that there are some important issues to watch out for with the new testing regime, in particular, managing the risks related to legal and prescription drug use which may trigger positive test results. My full Friday Blog is here. https://lnkd.in/g3RG4Rym

English Premiership Rugby club finances are baffling to me! Brilliant article below from Ben Gauna outlining the Premiership Rugby clubs P&Ls for 2023. Average club revenue (between £11m - £26m per season) is equivalent to the larger EFL (English Football League) League One or smaller Championship clubs. And these football clubs have much higher annual wage bills to deal with. Player salaries typically make up 80-90% of these clubs' annual revenues. Broadcast revenues at this level are not the same as the The Premier League clubs. As outlined in the fantastic Twitter thread from Ryan Shahin below. https://lnkd.in/dPhYVwC6 For me, the focus in rugby clubs is too often about growing new revenue streams. But whilst some revenue growth can be achieved by individual clubs (congratulations Harlequins and Saracens for impressive commercial revenue growth), the significant growth needed is collective, and driven by fan demand, building the 'product', macro-economics and the competitive landscape for attention. Not directly controllable by individual clubs. So with a salary cap in place, the route to profitability for most clubs should be about strategic cost management first. I find it astounding that the leading revenue clubs that have salary caps in place can make such significant losses.

Emirates today announces a five-year renewal of its longstanding partnership with Tennis Australia, remaining as the Official Airline of the Australian Open until 2029. Emirates marked a decade as the Official Airline of the Australian Open this year, celebrating its ongoing commitment to Australia and support for local sporting events. Since partnering with Tennis Australia in 2015, Emirates has remained steadfast in its mission to bring tennis fans and players closer, sharing unforgettable moments at the matches. From 2025, the partnership will extend outside of the Australian Open to make a meaningful impact within local communities in need. Emirates and the Australian Tennis Foundation (ATF) have teamed up on an initiative funded by the airline’s ‘Force for Good’ programme. Emirates will invest $2.25 million over five years to inspire brighter futures for disadvantaged children and young people through tennis. The programme will launch in five key Australian cities, focusing on children and young people from underprivileged backgrounds who might otherwise miss the opportunity to engage with the sport. Using tennis as a powerful tool to promote both physical and mental wellbeing, the partnership aims to foster a sense of belonging for disadvantaged youth. Over the next five years, the initiative will deliver free tennis programs, offering a structured and supportive environment where young participants can develop not only their sporting skills but also essential life skills such as resilience, teamwork and social connection. Through this collaboration, Emirates and the ATF aim to break down barriers, providing these young people with much-needed resources and opportunities to thrive. To share your startup story write us on - contact@startuprise.org #Emirates #Tennis #Australia #Australian Open #Airline #Partnership #Collaboration #Aviation

My main business is giving amazing award winning chauffeur tours around Wales. By its very nature, this can be quite seasonal work, so I also carry out Transfers and provide Chauffeur Services in my V Class in between tours. To suplement this suplement, I have branched out into something completely new, and started a subscription blog. Subscriptions are free for now, but it is my intention to start charging a nominal fee (less than £5.00 per month) in the future if there is enough interest in it to make it worth while. When carrying out Transfers, I often spend a large portion of my time on my own, in my car, with just my radio and my thoughts for company. Occassionaly these thoughts can become quite extensive and indepth. In the past I have shared these thoughts on Facebook, sometimes in quite lengthy posts. So I have decided to put these thoughts into a blog instead. They can be on a range of subjects, but more .often than not, they tend to be sport related, football in particular, or driving related. Occassionally more diverse subjects are covered. FFP / PSR in Football has been on the radio quite a bit lately, with the penalties given to both Nottingham Forrest & Everton. Investigations in Chelsea, and the 115 charges against Manchester City. Some fans think FFP / PSR will create a closed shop, where only the "Big 6" can compete. I strongly disagree, and thought this would be a good subject to launch the blog with. I have already added some of my older thoughts and opinions, so some of these are also available to read on the blog. They cover things from the England Football Team, Covid & Uber amongst others. Have a read of this peice and the others on there. I would love peoples feedback and opinions. It is a bit "basic" in looks at the moment, but I do intend to tidy this up over time. #blog #ffp https://lnkd.in/ejtqxX47

This is a thought-provoking article by Otago University professsor Robert Hamlin on the economics of 'economic development' infrastructure like stadiums (https://lnkd.in/gJjZ-557). I was struck by this part in particular: "Rugby union is the principal user of large stadiums in New Zealand. When the game was still amateur, it was expected to build and maintain its own stadiums. For example, Carisbrook in Dunedin was initially built by the Otago Rugby Football Union, while Eden Park was built by various Auckland sports associations. But with the professionalisation of rugby in 1995 the expectation changed. Taxpayers and ratepayers started paying significant amounts for construction of rugby and "multi-use" stadiums." I would have expected the exact opposite to be true, ie that going professional would have provided rugby with new revenue streams that enabled it to pay for its own facilities. But instead, what seems to have happened is that the sector has invested in lobbying efforts, including commissioning 'economic impact analysis' studies of proposed stadiums, to secure public funds. The result has been rate rises and diversion of funds from essential maintenance, without any clear evidence of the purported economic uplift. This is a good reminder to treat the results of economic impact studies very carefully. If people claim that there are large economic gains to be made from a proposed public investment, the first question should be: So how much money are you investing in this opportunity, and what's your revenue model?