As a result of this finding, the poker winnings were classified as income derived from a hobby, and thus not subject to Australian tax. The distinction between the conduct of a business and the mere pursuit of a hobby is often a difficult distinction to draw. However, the fact that you excel at a particular hobby should not be fatal for tax purposes.

173

The distinction between the conduct of a business and the mere pursuit of a hobby is often a difficult distinction. However, the fact that you excel at a particular hobby should not be fatal for tax purposes.

166

Jerry is doing really, truly groundbreaking work that is difficult to get funded because it's so expensive. You need someone with his kind of drive and energy to do that.

134

I'm actually not worried about it, although I'm a little worried about the perception of it.

129

Lenders don't like people taking out unsecured loans for their deposit. A substantial loan brings down the amount of mortgage you can afford to borrow, and if you try to get an unsecured loan without telling the mortgage lender, you are deliberately misleading your lender.

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