As part of the HP 2032+ Sport Strategy outcomes, the ASC dAIS scheme aims to provide athletes with direct financial support to enable them to focus on training and competitions to achieve the strategy targets in Olympic, Paralympic and Commonwealth Games sports.
As a dAIS grant recipient, it is important that you read your letter of offer carefully and are familiar with the eligibility criteria.
dAIS Income tax consequences
All athletes who receive a dAIS grant are required to consider their individual income tax consequences.
The ATO has published a Class Tax Ruling advising that dAIS grants received by individual taxpayers may not assessable under subsection 6-5(1) as ordinary income, if the athlete is not ‘carrying on a business as a sportsperson’.
The AIS strongly recommends all athletes seek professional taxation and financial advice to understand the legislative and tax implications of their dAIS arrangements for tax compliance purposes.
Refer here for the full Class Tax Ruling application: CR 2021/100 | Legal database (ato.gov.au)
For further information, please contact your NSO and/or Athlete Wellbeing and Engagement Manager, or contact the AIS at AISInvestment@ausport.gov.au.