In the United States, money paid to Olympic medal winners is taxable.
Other countries' laws may vary.
2
$1000
$15,000
Nothing
I don't believe being paid is allowed
around $300 an hour
amount of money for damages paid by losing nation to the winners
That will be based on the country. The US Olympic committee pays an award bonus of $25,000 for a gold medal.
Yes, they receive a bonus from the USOC (United States Olympic Committee). I believe that a Gold medal winner receives $25,000; Silver is $15,000; Bronze is $10,000. Does Michael Phelps get paid for all of his medals? I don't know.
Olympic athletes do not get paid for the medals they win. They do not receive pay for participating. U.S. medalists receive cash prizes from the U.S. Olympic committee. Gold medal winners receive $25,000, silver medal winners receive $15,000, and bronze medal winners receive $10,000.
Nobody's amateur anymore. Bolt got 13.1 million last year.
No.Presuming it was paid with after tax money (money you already paid tax on)...the return of that money is not taxed.