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Reply: 4.1.1
From: Robert Longmore
Lotto winnings DO NOT attract TAX.
The government has already taken their cut when the prize pool for the draw is calculated from the number of tickets sold.
it is similar to the TAB system.
If $1,300,000 worth of lotto tickets are sold, the government will take $200,000, the lotto licence holder will take his share ($100,000) and the prize pool is what is left over, $1,000,000
From: Robert Longmore
Lotto winnings DO NOT attract TAX.
The government has already taken their cut when the prize pool for the draw is calculated from the number of tickets sold.
it is similar to the TAB system.
If $1,300,000 worth of lotto tickets are sold, the government will take $200,000, the lotto licence holder will take his share ($100,000) and the prize pool is what is left over, $1,000,000
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