ManlyBacker
Winging it
CHUNKY rake Mark 'Piggy' Riddell has never knocked back a good feed - and yesterday he delivered a bigger slice of pie for every footballer by scoring a landmark High Court win.
Last week, we revealed Riddell was taking the Australian Tax Office all the way to the top of the judicial tree in his quest to make player management fees exempt from tax.
His case was heard in Canberra yesterday, signalling the end of a four-year legal stoush. And the verdict was unanimous, with the High Court bench ruling agency fees are tax deductible.
The result represents a huge windfall for not just NRL players but all athletes.
Riddell launched proceedings over a $21,175 management fee for one season alone - and he wasn't even close to the NRL's top earners.
The astronomical salaries of Johnathan Thurston, Greg Inglis and Darren Lockyer are now set to soar even further thanks to Riddell, with all now entitled to claim their standard 7.5 per cent management fee back on tax.
When you're talking salaries in excess of $500,000, it's a significant bonus.
What's more, all players are now entitled to claim their agency fees retrospectively to 2005, when Riddell launched his case.
Some are expected to be handed back more than a $100,000 windfall from the tax office as a result - not a bad "Piggy'' bank.
http://www.news.com.au/dailytelegraph/sport/nrl/story/0,26799,25657697-5006066,00.html
Last week, we revealed Riddell was taking the Australian Tax Office all the way to the top of the judicial tree in his quest to make player management fees exempt from tax.
His case was heard in Canberra yesterday, signalling the end of a four-year legal stoush. And the verdict was unanimous, with the High Court bench ruling agency fees are tax deductible.
The result represents a huge windfall for not just NRL players but all athletes.
Riddell launched proceedings over a $21,175 management fee for one season alone - and he wasn't even close to the NRL's top earners.
The astronomical salaries of Johnathan Thurston, Greg Inglis and Darren Lockyer are now set to soar even further thanks to Riddell, with all now entitled to claim their standard 7.5 per cent management fee back on tax.
When you're talking salaries in excess of $500,000, it's a significant bonus.
What's more, all players are now entitled to claim their agency fees retrospectively to 2005, when Riddell launched his case.
Some are expected to be handed back more than a $100,000 windfall from the tax office as a result - not a bad "Piggy'' bank.
http://www.news.com.au/dailytelegraph/sport/nrl/story/0,26799,25657697-5006066,00.html
