Olympics Notes: Australian Olympic Committee Looking To Change Its Foundation's Tax Status
The Australian Olympic Committee "believes it can almost double the funding" of its Medal Incentive Scheme for athletes if it can "successfully argue for a change to the tax status of its foundation." The AOC has applied to Australian Treasurer Joe Hockey for a change in the Australian Olympic Foundation's tax status so it is recognized as an "exempt institution that is eligible for a refund (of franking credits)" (THE AUSTRALIAN, 5/12). ... Former Scottish First Minister Henry McLeish led a report that concluded that Scottish athletes "would have 'no obvious barriers' for their newly independent country" at the Rio 2016 Olympics in the "event of a Yes vote in the forthcoming referendum." McLeish said in his "long-awaited report into the future of sport, the focus should be on the smooth transition from Team GB for those sportsmen and women who wish to compete for Scotland" (HERALD SCOTLAND, 5/9).