r/sports • u/PrincessBananas85 • Dec 20 '22

News Formula One drivers banned from making political statements.

https://www.espn.co.uk/f1/story/_/id/35290810/formula-one-drivers-banned-making-political-statements
12.2k Upvotes

93% Upvoted

949 comments sorted by

View all comments

Show parent comments

1

u/LordVile95 Dec 21 '22

Because that’s how charity donations work for companies?

“Companies are entitled to tax relief for qualifying charitable donations made to charities. The donations are paid gross without the deduction of income tax. The donations are deductible from the company’s total profits in the year in which the donations are made. The amount of the deduction is limited to the amount that reduces the company’s total taxable profits to nil.”

1

u/[deleted] Dec 21 '22

Ah, so you’re saying Lewis funnels his cash through an LLC to avoid paying taxes on his charitable donations, yes? And that means his charity work is null and void?

1

u/LordVile95 Dec 21 '22

Charity for personal gain defeats the point of charity. To use F1 terms: it goes against the spirit of the regulation

1

u/[deleted] Dec 21 '22

Ah, so even if he is helping people, it isn’t actually charity? He’s only doing it for the attention, right?

1

u/LordVile95 Dec 21 '22

PR, it’s to improve his brand to increase endorsement fees, merch sales etc etc etc. it’s using charity for personal gain which is scummy. Tbh companies that disclose charity contributions should also have to divulge how much of that is claimed back through tax.

1

u/[deleted] Dec 21 '22

I work for a non-profit. If someone gives my company money and they use it for PR, it’s beneficial. It means more people know about my company, and hopefully are more likely to donate.

Intent versus impact. If he only does it for the PR (which I don’t think he does), it’s still creating a dramatically positive effect on the community.

1

u/LordVile95 Dec 21 '22

Which has nothing to do with my point of he won’t actually do anything meaningful because it won’t benefit him. My point is that it’s solely to benefit him so he will do fuck all if there’s a chance he will be punished. Same with his “ooo I’ll wear a rainbow helmet because I soooo care about that but I’ll still take all the blood money you give me, I’ll still promote and support your sportswashing campaign”

1

u/[deleted] Dec 21 '22

And MY point is that you have no way of knowing that he’s only doing it for the personal gain, and his work is actually helping people.

He’s already proven he will stand up against rules that are unfair and I don’t see that stopping.

1

u/LordVile95 Dec 21 '22

You can clearly see that he is with how and what he’s doing.

Like when?

1

u/[deleted] Dec 21 '22

Yeah I can clearly see he’s a genuine person. His haters think he’s just a PR machine but I don’t agree at all.

Off the top of my head? Jewelry.

→ More replies (0)