Official News - page 6

REAL LIFE NEWS: THERE AIN'T NO SUCH THING AS A FREE RIDE TO SPACE

by Hazed

We all hate the taxman, but this story will make you detest him even more, as he prevented a poor chap from fulfilling his lifelong fantasy.

Brian Emmett had always dreamed of going to space, and his dream came true when he won a 2005 sweepstake organized by Oracle Corp. He answered a series of online questions on Java computer code and won the prize - a ticket to space courtesy of Space Adventurers Ltd, the same company that brokers deals for trips on Russian rockets to the international space station. They're in the process of developing tourist trips to space, along with several other companies, and the prize was a seat on their first commercial flight.

For Brian, who described himself as a space buff who had attended space camp and watched shuttle launches from Kennedy Space Center, this was the chance of a lifetime.

And then the taxman brought Brian back down to Earth with a thud. he realized he would have to report the prize as income, and since it was valued at $128,000, he'd owe the revenue $25,000 in taxes. He can't afford to pay that, and he doesn't want to end up in debt, so he's had to give up his seat on the galactic joy ride.

Brian fell foul of the rules that require winnings from lottery drawings, TV game shows and other contests to be reported as taxable income. Some contest sponsors provide a check as part of the prize in order to cover taxes - but of course the check also counts as taxable income!

Despite Brian's cancellation, Oracle say the contest was a success, and they are in the process of naming his replacement. They also still have two other winners on board from Asia and Europe. But it's a warning to you if you live in the US (or any other country where they have similar rules about prizes being taxable) - before you accept a big prize, check what it's going to cost you!

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