Renowned for her career as a professional cyclist, notably an Australian Olympian and world championship medallist, Rachel Neylan exemplifies resilience and determination.
Constantly adapting to the ever-changing scene that comes with being a professional athlete, we spoke to Rachel about how she navigates the intricacies of employment and finance in the realm of professional sport.
With over 17 years of experience as a professional athlete, Rachel Neylan has continually adapted to the dynamic landscape that professional sport presents.
Trying her hand at running, rowing and triathlons, it wasn’t until 2007 at the age of 25, Rachel delved into the world of professional cycling.
After narrowly missing out on the London Olympic Games in 2012, Rachel’s childhood dream became a reality in 2016 as she represented Australia at the Rio Olympic Games.
Now approaching the twilight years of her career, Rachel admits she has had to be proactive as her career starts to shift.
“As a professional cyclist, managing training schedules, sponsorships, and financial matters can be overwhelming at times,” Rachel said.
“The expertise and guidance provided by the Nexia Australia team have been invaluable in navigating the complexities of my employment situation.”
Highlighting the unique financial considerations faced by female athletes, Rachel emphasises the importance of tailored financial services.
“The limited earning capacity in women's sports underscores the need for specialised financial support,” she explains.
“When you can have assistance in areas where you are not highly skilled, I always believe engaging professional services is the best option.
“Nexia Australia has been understanding of my situation and has seamlessly adapted to meet my evolving needs.”
Admittedly, navigating the intricacies of international income streams presents a significant challenge for athletes like Rachel.
“As someone who often earns income from multiple sources across the globe, understanding tax obligations can be quite daunting,” Rachel admits.
“Nexia Australia has been instrumental in streamlining this process, providing me with clarity and peace of mind."
“As a sole trader in a unique profession, calculating business expenses can also be daunting. Nexia's expertise in this area ensures that I can focus on my career while they handle the financial complexities.”
When asked how their relationship has evolved successfully, Rachel credits the leadership of the Nexia Australia team.
“From managing student debts to navigating complex tax returns, Nexia has been a constant source of support throughout my career,” she reflects.
“Nexia Australia’s leadership has been particularly noteworthy, exemplifying dedication and understanding.”
