Tokyo Olympics: Gold Rush
The glory of winning a gold medal is a massive incentive for athletes competing in Tokyo but the impressive bonuses on offer add another more lucrative dimension to the games. The size of the bonus on offer varies hugely by country.
UK Sport offers year-long funding and training programmes rather than bumper pay-outs, whereas, American competitors get $37,500 for every gold they take home.
Interestingly, successful athletes from Indonesia are awarded a prize of $746,000 for gold – not a bad day at the office! Indonesia have won 7 Olympic gold medals and all 7 have come on the badminton court; their golden badminton legacy could set back the government a small fortune!
Large Cash Payments
So you’ve just won gold… what to do with $746,000?!
Well that’s the beauty of our job; everyone’s situation is different!
We spend a lot of time with our clients to get to know their circumstances and financial aspirations before undertaking any planning and implementing a long-term financial plan.
Different structures deliver different tax charges and optimising the tax position has the effect of further enhancing the after-tax investment return.
Maximising the tax reliefs available will often involve the use of more than one structure, and by creating a cash flow plan we are able to illustrate what the future may look like (based on a variety of different scenarios) to put our client in a more informed position before making life changing decisions.
If you think you would find this useful then please get in touch.