Is Leaving Legacy Over Money Worth It? Despite Winning $8,750,000, Talor Gooch’s Financial Setback Unfolds Dark Facts About His Earnings

Talor Gooch is on an all-time career high with two back-to-back LIV titles to his name. Firstly, he marked his first individual maiden victory in Adelaide, and then on Sunday, April 30, he won his second event in Singapore. Gooch won prize money worth $8.75 Million in both events. Well, the question is, will he take it all home?

Talor Gooch’s yet another financial setback is about to unfold

LIV Singapore boasted an incredible $25,000,000 prize purse, with the winner taking home $4,000,000 in earnings.

Gooch won the winner’s payout by marking his second victory as the individual champion. But the joy was doubled in Singapore as along with becoming the individual champion, Gooch’s team, RangeGoats GC won the team championship. RangeGoats GC won $3 Million in prize money for emerging as winners of the team tournament. The four members of the team, Captain Bubba Watson, Talor Gooch, Thomas Pieters, and Harold Varner III, will take $750,000 home. 

Read More: Talor Gooch’s Family: All You Need to Know About His Wife and Kid

It turns out this joy of winning huge paychecks will not be lasting for very long. To answer the question of whether  Gooch take it all home, let’s look at the taxation prevalent in Singapore for non-resident entertainers. According to the taxation rule in Singapore, Gooch’s winnings will be subjected to a 15% deduction. 

So, it turns out, his and his team’s prize money will not be paid in full. It would be 15% less in Singapore. Out of the $4,750,000 he has earned in Singapore, Gooch will only take $4,037,500 home with him. Gooch also shared that usually the prize money is credited within 24 to 48 hours of the event completion. 

Well, taxation is far better in Singapore for sportspersons than it is in Australia. According to Gooch’s revelation just a few days ago, his earnings from the Adelaide event were withheld significantly.

Talor Gooch’s financial setback in Australia

Gooch also won $4 Million in Australia. He expressed his dissatisfaction over the income withheld in Australia. Gooch’s prize money in Australia was also taxed at the humongous rate of 47.5% as revealed by him in the episode Fore the People podcast.

“It was a big one this last week, but yeah, it sucked that 47 and a half percent was withheld for Australian taxes, unfortunately,” shared the American golfer.

Such huge taxation amounts act as a major financial setback for the players in such countries as Australia and Singapore where there are such tax rules. Gooch’s income will be reduced significantly after his taxation will be settled. What do you think of Gooch’s earnings in the past week? 

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