"request total anonymity"

Reply #6

dvdiva — Fri, 14 Apr 2006 03:37:03 GMT

A tax on lottery tickets? That's a new low. Proves inflated annuities and taxation on lottery winnings takes place only the USA. Canada and Europe also have all cash tax free prizes. Not sure of Japan or other countries. Only big non US pots that I've seen though are out of Australia, Canada and Europe.

Although given a choice I'd far rather pay a 35% tax on a one dollar ticket than have 35% of the prize taken away if I win.

Reply #5

goldrush — Fri, 14 Apr 2006 01:04:37 GMT

Did you know that in New South Wales more than 60% of player investments in lotteries is returned as prizes, which is one of the highest returns for lotteries games in the world

Reply #4

goldrush — Fri, 14 Apr 2006 01:03:05 GMT

All the revenue raised by NSW Lotteries goes into the state's Consolidated Revenue. State lotteries are a way for states to raise revenue; they are a voluntary tax. Paying a tax on a lottery ticket is both voluntary and painless, paying tax on a large prize in very painful.

Reply #3

savagegoose — Tue, 11 Apr 2006 12:08:49 GMT

the prize is tax free but all the people who buy tickets pay an %11 gambling tax.

so basically the losers pay the tax as soon as the bet is laid, not the winner when he rakes in the big one.

Reply #2

goldrush — Tue, 11 Apr 2006 04:29:29 GMT

In Australia, all lottery prize money is totally tax free. Also, in Australia, you get the full cash payment, if you win $6 million, you get $6 million, there are no annuities.

Reply #1

LOTTOMIKE — Sun, 09 Apr 2006 22:14:34 GMT

congrats

"request total anonymity"

goldrush — Sun, 09 Apr 2006 05:56:54 GMT

An entry sold at Cronulla in Sydney s South has scored its lucky owner the entire $6 million First Division prize pool in last night s Powerball draw.

The registered winner contacted NSW Lotteries today to advise he would be lodging a claim and to request total anonymity.

http://www.nswlotteries.com.au/news/newsindex.html?story=1992