US medal-winning athletes at the Olympics have to pay tax on their prize money

[abzo]

Does the IOC not pay the winners anything?

[HavocXphere]

SA people will be liable for UK tax and SA tax, but double taxation agreements should wipe out most of the SA tax.

Say it's a team sport like our 4 man rowing team that won gold ... will each of them receive R400 000?

It could become quite expensive for SA.

Nah. 400k is less that the cost of one of those bazzillion blue light cars driving around. Even if they bring home a pile of gold medals it still won't compare to say hosting a ICASA talk shop. Besides, this is actually a use of taxpayer Rands of which I think most SA ppl approve of.

[DJ...]

Not sure why this should be tax exempt...

[D4N]

Only the professionals should get taxed

[Garson007]

Only the professionals should get taxed

Amateurs by definition get no prize money.