Rumored Jack Della Maddalena not fighting anytime soon

[Reign009]

Some people did not understand this situation, lol.

I don't necessarily think it's TS's fault either.

 

[Mohawk Banditó]

JDM isn't complaining, it's allegedly his potential opponents who are.

Anyway despite those tax brackets, there are a variety of offsets and exemptions which will lower the effective tax rate for a non-resident professional athlete competing in Australia.
It will still be expensive, but it won't be as bad as those brackets some twitter dude posted.



Australian residents have different tax rates than posted. Here are our current rates :
View attachment 995141

Still high, but lower than foreign residents.
Also for high income earners these are set to change drastically next year, lowering our net tax payable significantly.

Remember that we have no state taxes on top of this. So for a regular person working as an employee, the rates here are all we pay income tax wise.

One of the other issues at play here is perception, where Australia might actually feed tax dollars back into the community in effective ways, a concept too foreign for Americans to understand or accept

 

[Blastbeat]

just for reference and a bit of fun, i went ahead and found the tax rates for foreign athletes here in the USA.
https://www.irs.gov/individuals/international-taxpayers/withholding-of-tax-on-payments-to-foreign-athletes-and-entertainers#:~:text=Unless you as the withholding,of the payee) on all

"Unless you as the withholding agent are prepared to deal with all the complex tax issues raised above, you must withhold tax at the statutory rates (30% for independent personal services, graduated rates for dependent personal services, or 30% in cases in which you cannot determine the status of the payee) on all payments made to foreign athletes or entertainers"

its a flat 30% with some exceptions for certain cases. 2.5% less than the lowest Australian bracket. i believe athletes fall under the "individual personal services" field here. so while its not ideal, you're getting more of your money as an athlete if you fight in the USA. so i reiterate what i said in a post previously - AUSSIES! come fight in the USA and keep more of your money!

 

[Mohawk Banditó]

just for reference and a bit of fun, i went ahead and found the tax rates for foreign athletes here in the USA.
https://www.irs.gov/individuals/international-taxpayers/withholding-of-tax-on-payments-to-foreign-athletes-and-entertainers#:~:text=Unless you as the withholding,of the payee) on all

"Unless you as the withholding agent are prepared to deal with all the complex tax issues raised above, you must withhold tax at the statutory rates (30% for independent personal services, graduated rates for dependent personal services, or 30% in cases in which you cannot determine the status of the payee) on all payments made to foreign athletes or entertainers"

its a flat 30% with some exceptions for certain cases. 2.5% less than the lowest Australian bracket. i believe athletes fall under the "individual personal services" field here. so while its not ideal, you're getting more of your money as an athlete if you fight in the USA. so i reiterate what i said in a post previously - AUSSIES! come fight in the USA and keep more of your money!

The only thing this leaves me confused about is the claim that an American being taxed heavily on income in Australia means filing their taxes in America later can result in some sort of refund, I guess for the reasons of bringing in income from another country.

That's just more math to throw into the pile that I'm assuming a lot of fighters don't do because that sounds fucking complicated, but maybe that suggests the actual amount reduced in the end isn't as bad as it seems

 

[TGArthur]

I feel like @Arqueto should make an entire shoop thread on Dana keeping money memes like the ones here.

 

[checktheknuckles]

you won't make more money anywhere else in MMA. i don't think you or a lot of people realize that the "pay the fighters more" argument isn't about them making peanuts, it's about them not making a certain percentage of the total revenue in comparison to the UFC's slice.

STFU dana you goof. Fighters are literally leaving the UFC for better pay in mma. WTF you talkin about dana, you scumbag?

 

[mudrubble]

"... significantly higher pay"

What does the multi-Billion dollar company consider significant? lol. Fighters probably want a little extra to help cover travel and taxes.

"But what will the shareholders think?"

This seems to be their only question. And as a public company that is set up for maximum returns, I guess that makes sense. Fighter pay is not an issue until shareholders demand that and that will be just after hell breaks its hot spell.

 

[Mohawk Banditó]

why would they want guys to reject fights?

Obviously, they do want to put shows together but their contracts mean rejected fights means less paying & more control. But they'd probably want to use that as a weapon on specific fighters

 

[Blastbeat]

The only thing this leaves me confused about is the claim that an American being taxed heavily on income in Australia means filing their taxes in America later can result in some sort of refund, I guess for the reasons of bringing in income from another country.

That's just more math to throw into the pile that I'm assuming a lot of fighters don't do because that sounds fucking complicated, but maybe that suggests the actual amount reduced in the end isn't as bad as it seems

thank goodness for American tax refunds! i wonder how much they can get back? maybe it depends on where they fought and the tax laws in that country?
and yeah, the vast majority of fighters dont really have any background in financial literacy. thankfully a lot of that info is much more easily accessible but on the flipside there are a lot of grifters out there so weeding through financial info has to be done with a fine toothed comb.
between fighting, training, dieting, etc etc etc i bet the last thing a lot of them want to do is up their financial literacy. its admittedly a dull field to study, in my opinion. but its important information that everyone should know. what helped me is finding sources of information that i found engaging; that made the dense subject matter more palatable.

 

[hswrestler]

Why can't they do Jake matthews vs jdm. Would be a banger fight and both are Aussies and thus exempt from the taxes

 

[maximus__]

Jake Matthews wants to fight in Sydney
He is an Australian WW
Book it Sean Shelby

No he doesn't. He wants to go to the event as a spectator for the first time ever and put his hand up for the Abu dhabi card instead.

 

[maximus__]

Sodiq Yusuff commented on the tweet and said "My only ever bonus was in Australia. The pain I felt from those taxes were devastating haha"

How much more does Australia tax then the US? Anyone know? Out of his 50k bonus, did he get only 25k?

Yusuff has fought (since the UFC) 5x in Vegas, California and Pennsylvania.

The tax wouldn't be the main issue. It's the cost of living down here because of people actually receiving a minimum wage.

Instead of going out for a meal and paying $15 for your food and tipping the waitress, the cost is within the meal and tips are for great service.

Yusuff appears to only fight in Vegas these days as per his last 4 fights.

 

[KazDibiase]

Some people did not understand this situation, lol.

I don't necessarily think it's TS's fault either.

I fucked up my bad

 

[Pancake Sprawl]

STFU dana you goof. Fighters are literally leaving the UFC for better pay in mma. WTF you talkin about dana, you scumbag?

nobody left for better pay. Ngannou left for "freedom" so he could box. he even admitted he left a lot of money on the table to gain his freedom. please stop spreading your ignorance. thank you.

 

[CieloLuce]

Australia charges alot in taxes. It is insane, practically fighting for free.

 

[checktheknuckles]

nobody left for better pay. Ngannou left for "freedom" so he could box. he even admitted he left a lot of money on the table to gain his freedom. please stop spreading your ignorance. thank you.

So Ngannou is the only fighter who left the UFC for money? And to you, he left and makes less now? Does the bill store take payment in form of fighter freedom? What about the grocery store?

 

[Kenny95]

It's the OP's fault for fucking up the title, people have the attention span of a goldfish, all they read are thread titles and then they comment immediately without even giving it a second thought.

It's the OP's fault and the twitter poster's fault. Even the few sentences are unclear "However, due to the fighters demanding significantly higher pay to fight Australia..." it's not clear if the money issue is on JDM's side, or potential opponent's side, or both.

 

[H41ph_84k3d]

Oh, dat's tuf!