PRIZE MONEY

There is equal prize money for Professional Male and Female athletes (US$50,000) paid down to tenth place, subject to Ironman rules which entail the 3rd to 10th place getter professional athletes needing to finish within 10% of the finish time of the 2nd place getter for both male and female. Due to drug testing results payment for prize money can take up to six weeks. Prize money winners will receive instructions at the Awards Function, and a letter detailing the method of invoicing IMG for the prize money - this is dependent upon the residential status of the competitor, and their Australian GST status. All non-resident prize money payments will be subject to the applicable withholding taxes. International professional competitors should be aware of the Australian Tax laws in respect to payment of prize money and withholding tax and the need for a work visa and the need to obtain an Australian Business Number and Tax File Number.