[PHOTO: Brenton Edwards]
For most people, $US2.2 million ($A3.4 million) is more than enough to make ends meet. You can buy all the cold cuts you want from the butcher, pick up your dry cleaning and even treat yourself to a new golf club or two with that chunk of change. Still, the maths is the maths… and $US2.2 million is a lot less than $US4 million.
At this week’s LIV Golf event in Adelaide, one lucky (and very unlucky) golfer will learn the true difference between those two numbers the league’s most popular event from a fan-attraction standpoint has one fatal flaw: Australia tax laws.
If form holds from 2023, the winner of this weekend’s event is expected to see his winnings spliced by nearly half due to the Land Down Under’s tax regulations. Last year’s champion was Talor Gooch, found that out first-hand and had a very reasonable take on the pecuniary reality.
LIV Golf Adelaide: Defending champion Talor Gooch: ‘I’m going to be a tough dude to beat’
“It was a little bit disheartening seeing 47½ percent because Australian taxes [do] not enter the account,” Gooch said on the “Fore The People” podcast after his 2023 win. “It comes, you know, sometimes it’s like 48 hours, but it’s usually 24 hours after the direct deposit hits.
“It was a big one this last week, but yeah, it sucked that 47½ percent was withheld for Australian taxes, unfortunately… I am by no means complaining, but the four [million dollars], once you cut it all up, let’s just say that it’s a lot less than four.”
That’s that Oklahoma State University education for you. It doesn’t matter if you’re not from Australia, our government is taking nearly half of your winnings.
This year’s eventual champion is expected to go through the same ordeal. He will have to settle for a couple of million dollars, a nice trip to Australia and 18 holes less than their PGA Tour counterparts. Thoughts and prayers.
