TOPIC:

Claremont FC has a profit of $562 000. The biggest in WAFL history. Amazing result.

Yes I’m growing very suspicious about these massive profits. How are a few clubs posting around half a million profits while others around 150k? Creative accounting or some have written off assets? More profit means more in taxes, let’s hope you all pay your bills.

Job Keeper

DD wrote: Yes I’m growing very suspicious about these massive profits. How are a few clubs posting around half a million profits while others around 150k? Creative accounting or some have written off assets? More profit means more in taxes, let’s hope you all pay your

Sporting clubs as not for profit organisations don't pay taxes I thought. The reason we've posted such a big profit is jobkeeper, reduced player wages, our redevelopment setting us up financially, strong bar trade, sponsors all paid in full still despite the shortened season and three grades in the grand final.

Yep we all know it's Jobkeeper. Just hope some clubs aren't in the ATO gun who will be investigating fraudulent Jobkeeper claims. If names like Mickey Mouse and Donald Duck show up on the payroll that might raise some red flags.

Tiger you may be right that WAFL clubs are not for profit but still liable to pay GST. That was one of West Perth's failings, failure to pay their GST to the ATO. How dumb can you be?

Surely jobkeeper was only open to people with tax file numbers and tax file and employment history? Would be pretty hard and risky to invent new fake employees

Tiger of old wrote: Surely jobkeeper was only open to people with tax file numbers and tax file and employment history? Would be pretty hard and risky to invent new fake employees

ToO the common rort is to put every émployee'on the books even the casuals (increase their on book hours) in the WAFL scenario I would but every player plus colts on the list (most of them have a tax number). It ain't hard to find a way to do it, the trick will be not to get caught.

I am not suggesting the clubs have been anything but honest but ........ time will tell!

Grump wrote:

Tiger of old wrote: Surely jobkeeper was only open to people with tax file numbers and tax file and employment history? Would be pretty hard and risky to invent new fake employees

ToO the common rort is to put every émployee'on the books even the casuals (increase their on book hours) in the WAFL scenario I would but every player plus colts on the list (most of them have a tax number). It ain't hard to find a way to do it, the trick will be not to get caught.

I am not suggesting the clubs have been anything but honest but ........ time will tell!

Really good result for the club.

Retained similar levels of sponsorship income despite the reduced season.

Paid off a significant loan for the facility 3 years into a five year term which helped this years result and also moving forward.

As with other clubs profits this year, a significant portion of wages were offset by JobKeeper payments with the club receiving $210k.

Grump every employee on the books prior to the cut off date, whether they be FT or PT were entitled to claim JobKeeper (as long as it was only from one employer) and casuals who had been employed for 12+ months also qualified.

The other big windfall for ACN businesses via the governments covid support is the PAYG being retained by the business

As long as it was from one employer....

Most WAFL players use their football money as supplemental income and not their primary income.

The way WAFL clubs will be caught out is that they didn't pay everyone, only the ones on jobkeeper.

Its because they spent $0 on the condition of their oval.