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Joe Hachem Will Keep All of His Winnings
January 3, 2006 (written by Haunted
Poker)
Joseph Hachem, the 2005 WSOP Main Event winner, won his
appeal with the Australian government to keep his entire
$7.5 million prize. Apparently, Australia has a tax law
claiming that income earned from "hobbies" should be
non-taxed and separated from income earned from a
"career". Since Hachem wasn't a full-time poker player,
his World Series of Poker prize money can be considered
income from a hobby.
Wow... so the moral of the story is: keep your dual
Australian citizenship active if you plan to play in the
WSOP. I'm not sure if the IRS has a similar law but I
can't imagine so. Unfortunately, our government still
regards poker as gambling (which is taxed) rather than a
skill game. Go Joe.
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