SQ gives Schooling 1 million miles + KF elite gold
Aug 14, 2016, 7:09 pm
#16
Join Date: Jul 2005
Location: SIN and wandering.
Posts: 1,549
SQ also downgraded 2 First Class passengers for Joseph Schooling and his mum. He needs the rest before the crazy whirlwind 4-day victory lap and media frenzy in SIngapore before he returns to the US again for his studies.
https://www.facebook.com/plugins/vid...41010292934%2F
https://www.facebook.com/plugins/vid...41010292934%2F
Last edited by SQ319; Aug 14, 2016 at 8:13 pm Reason: Wrong link
Aug 14, 2016, 8:50 pm
#18
Join Date: Dec 2007
Location: Virginia City Highlands
Programs: Nothing anymore after 20 years
Posts: 6,900
Will the IRS try to tax it?
The US tax bite is worse than in Singapore.
$1M in Singapore dollars (roughly US$750k) from the Singaporean government would be a welcome payment! However, US$750k doesn't go very far in Singapore. Real estate is very expensive. Car prices are crazy (think US$100k to US$200k for an ordinary car or cheaper BMW).
The US tax bite is worse than in Singapore.
$1M in Singapore dollars (roughly US$750k) from the Singaporean government would be a welcome payment! However, US$750k doesn't go very far in Singapore. Real estate is very expensive. Car prices are crazy (think US$100k to US$200k for an ordinary car or cheaper BMW).
And if he won't pay or try to avoid paying for one reason or another, it would end up in quite a bad publicity - last thing you want is to have a headline ' Olympic Champion Is Tax Dodger' on newspapers/media.
But I'm sure with he current status/glory he would have enough financial/legal help to resolve problems appropriately.
P.S. Total sum before US taxes is less than USD 500K, take >40% away and remaining would be enough to buy a 3br house in Texas but won't be enough to buy a dog kennel in California, Boston and NY. The same (and even worse) situation is in Singapore - you can get HDB somewhere in Bishan/Punggol but to have a flat in condo you need to put one additional zero at the end.
P.P.S. At the end - even 300K is better than nothing.
Last edited by invisible; Aug 14, 2016 at 8:56 pm
Aug 14, 2016, 8:58 pm
#19
Community Director Emerita
Join Date: Oct 2000
Location: Anywhere warm
Posts: 33,746
In the article I posted above, it says that his award will be tax free.
While Schooling will be required to give 20 percent of his MAP incentive – amounting to S$200,000 – to the Singapore Swimming Association (SSA) for ‘future training and development’, he is still expected to pocket close to S$750,000 after taxes.
And following changes to the National Collegiate Athletic Association (NCAA) rules last year, the University of Texas student will be able to keep every cent of that sum of money, reported US newspaper USA Today.
While Schooling will be required to give 20 percent of his MAP incentive – amounting to S$200,000 – to the Singapore Swimming Association (SSA) for ‘future training and development’, he is still expected to pocket close to S$750,000 after taxes.
And following changes to the National Collegiate Athletic Association (NCAA) rules last year, the University of Texas student will be able to keep every cent of that sum of money, reported US newspaper USA Today.
Aug 14, 2016, 9:18 pm
#20
Join Date: Dec 2007
Location: Virginia City Highlands
Programs: Nothing anymore after 20 years
Posts: 6,900
In the article I posted above, it says that his award will be tax free.
While Schooling will be required to give 20 percent of his MAP incentive – amounting to S$200,000 – to the Singapore Swimming Association (SSA) for ‘future training and development’, he is still expected to pocket close to S$750,000 after taxes.
And following changes to the National Collegiate Athletic Association (NCAA) rules last year, the University of Texas student will be able to keep every cent of that sum of money, reported US newspaper USA Today.
While Schooling will be required to give 20 percent of his MAP incentive – amounting to S$200,000 – to the Singapore Swimming Association (SSA) for ‘future training and development’, he is still expected to pocket close to S$750,000 after taxes.
And following changes to the National Collegiate Athletic Association (NCAA) rules last year, the University of Texas student will be able to keep every cent of that sum of money, reported US newspaper USA Today.
Does anyone in any article say in that the money is tax free for US taxes?
Last edited by invisible; Aug 14, 2016 at 10:42 pm
Aug 14, 2016, 9:46 pm
#21
Join Date: Jul 2005
Location: SIN and wandering.
Posts: 1,549
In the article I posted above, it says that his award will be tax free.
While Schooling will be required to give 20 percent of his MAP incentive – amounting to S$200,000 – to the Singapore Swimming Association (SSA) for ‘future training and development’, he is still expected to pocket close to S$750,000 after taxes.
And following changes to the National Collegiate Athletic Association (NCAA) rules last year, the University of Texas student will be able to keep every cent of that sum of money, reported US newspaper USA Today.
While Schooling will be required to give 20 percent of his MAP incentive – amounting to S$200,000 – to the Singapore Swimming Association (SSA) for ‘future training and development’, he is still expected to pocket close to S$750,000 after taxes.
And following changes to the National Collegiate Athletic Association (NCAA) rules last year, the University of Texas student will be able to keep every cent of that sum of money, reported US newspaper USA Today.
http://www.singaporeolympics.com/mul...programme-map/
Aug 14, 2016, 10:14 pm
#23
formerly Fly-Swiss
Join Date: Dec 2005
Location: SIN
Programs: SQ
Posts: 878
A couple of negative people on this thread.
Even though SIA is owned by the government, they don't owe him anything. It's quite generous that they decided to give him a F ticket back home as well as 1m miles. Of course it is marketing but still it is a nice gesture. Just enjoy the victory and stop critising everything. The people who critisice the most are generally those who don't amount to much..,,
Even though SIA is owned by the government, they don't owe him anything. It's quite generous that they decided to give him a F ticket back home as well as 1m miles. Of course it is marketing but still it is a nice gesture. Just enjoy the victory and stop critising everything. The people who critisice the most are generally those who don't amount to much..,,
Aug 14, 2016, 10:45 pm
#24
Join Date: Dec 2007
Location: Virginia City Highlands
Programs: Nothing anymore after 20 years
Posts: 6,900
It's not tax free in Singapore though. All award monies are taxable, as per Singapore National Olympic Council which is administering the award.
http://www.singaporeolympics.com/mul...programme-map/
http://www.singaporeolympics.com/mul...programme-map/
Aug 15, 2016, 12:54 am
#25
Join Date: Sep 2004
Location: SYD
Programs: UA Premier Gold (*G), IHG Platinum & Hyatt Discoverist
Posts: 1,456
I thought it was a nice gesture from SIA, obviously there is a PR element to all of this but it's a big achiement for Schooling and maiden Olympic Gold for Singapore so worth recognising.
Somebody at SQ might have thought the KF Gold card was a better match for the medal than the PPS Card, and that giving away Solitaire might be a bit much.
Somebody at SQ might have thought the KF Gold card was a better match for the medal than the PPS Card, and that giving away Solitaire might be a bit much.
Aug 15, 2016, 1:44 am
#26
formerly Fly-Swiss
Join Date: Dec 2005
Location: SIN
Programs: SQ
Posts: 878
Aug 15, 2016, 3:41 am
#27
Join Date: Jun 2009
Location: SIN
Programs: TK-G | Accor P | SQ-G | Marriott T
Posts: 3,831
SQ also downgraded 2 First Class passengers for Joseph Schooling and his mum. He needs the rest before the crazy whirlwind 4-day victory lap and media frenzy in SIngapore before he returns to the US again for his studies.
https://www.facebook.com/plugins/vid...41010292934%2F
https://www.facebook.com/plugins/vid...41010292934%2F
I gave up C seat on BCN - SIN on 14-AUG and opt the flight on 12-AUG instead
. I gave it up of him.On my flight the F is quite empty. I saw one guy whom I think SQ steward flying on leisure sneak into it after took off. He supposed to be on C.
Aug 15, 2016, 3:44 am
#28
Join Date: Jun 2009
Location: SIN
Programs: TK-G | Accor P | SQ-G | Marriott T
Posts: 3,831
A couple of negative people on this thread.
Even though SIA is owned by the government, they don't owe him anything. It's quite generous that they decided to give him a F ticket back home as well as 1m miles. Of course it is marketing but still it is a nice gesture. Just enjoy the victory and stop critising everything. The people who critisice the most are generally those who don't amount to much..,,
Even though SIA is owned by the government, they don't owe him anything. It's quite generous that they decided to give him a F ticket back home as well as 1m miles. Of course it is marketing but still it is a nice gesture. Just enjoy the victory and stop critising everything. The people who critisice the most are generally those who don't amount to much..,,
I think he deserves 1 unlimited business class seat on SQ flight (subject to avail).
My question, does that 1millions miles expires in 3 years? Can he extend it?
Aug 15, 2016, 4:00 am
#30
Join Date: Jun 2009
Location: SIN
Programs: TK-G | Accor P | SQ-G | Marriott T
Posts: 3,831
well why not? seriously how often he can fly? I believe most of the time he flies, it will be related to his swimming carrier anyway.
This guy made Singapore proud. How much really that cost to SQ? On the book may be something. In real, it costs SQ nothing.
If SQ can gives up F/C seat for their crew, why can't they give it to him?
As I said subject to T&C, i.e. not on peak season.
I do not think he will abuse it anyway.
Well if lifetime is too much, may be for the next 5 years until he wins another gold medal again?
This guy made Singapore proud. How much really that cost to SQ? On the book may be something. In real, it costs SQ nothing.
If SQ can gives up F/C seat for their crew, why can't they give it to him?
As I said subject to T&C, i.e. not on peak season.
I do not think he will abuse it anyway.
Well if lifetime is too much, may be for the next 5 years until he wins another gold medal again?