Pat,

I would say there is 99.9999% chance the ATO won't come after you for trading on the horses. Its all theoretical. It was raised a few years ago and has lingered on since then as a possibility.

If you search google for "Australian Tax Office betfair" you might find a few things. as well as "ATO Tax Betfair"

Here is a link to a guy who got asked about his punting just this year :

http://community.betfair.com/austra...taxation-office

There are a few threads on this forum from a few years ago. There are also a few on the betfair forums.


and make sure you read this:

http://law.ato.gov.au/atolaw/view.h...5/NAT/ATO/00001