Another season of The Block is officially over, and our latest group of Blockheads has walked away with some serious prize money. But many fans wonder about the rules regarding that cash. When do the contestants receive their hefty winnings? And what about taxes?
As we covered recently, it turns out that contestants can’t divide their winnings—even in cases like Maddy and Charlotte, who took over House 1 from Jesse and Paige after they exited the competition. It’s just one of the rules that regulate how prize money is handled on The Block.
Let’s take a closer look at the cash received by contestants and when they can get their hands on their prizes.
How do contestants receive their prize money?
According to a February interview with Yahoo Lifestyle, former contestants Eliza and Liberty Paschke shared that prize money from The Block is paid to them “in instalments.”
The pair mentioned that this setup meant they “don’t have a choice but to sit on it.” So, while the exact roll-out of money may vary, this year’s winners will likely receive their winnings in periodic instalments, too.
Is prize money on The Block taxed?
Another question that comes up frequently is whether prize money on The Block is taxable.
According to the Australian Taxation Office (ATO), game-show winnings, including those from The Block, are generally not subject to tax. However, the ATO notes that if contestants receive “regular appearance fees” or winnings, those earnings may be treated differently.
While that’s quite the perk when you’re taking home hundreds of thousands or even millions of dollars, the slow rollout of the cash is probably not as enjoyed by the contestants of The Block.
The Block streams on Channel 9 and 9Now.
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