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• goldrush

  Australia
  Member #17,095
  June 11, 2005
  225 Posts
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  Apr 9, 2006, 1:56 am

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  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
• LOTTOMIKE

  

  Tennessee
  United States
  Member #7,853
  October 15, 2004
  11,352 Posts
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  Apr 9, 2006, 6:14 pm

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  congrats!!

  
• goldrush

  Australia
  Member #17,095
  June 11, 2005
  225 Posts
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  Apr 11, 2006, 12:29 am

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  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.
• savagegoose

  

  adelaide sa
  Australia
  Member #37,135
  April 11, 2006
  3,341 Posts
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  Apr 11, 2006, 8:08 am

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  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.
• goldrush

  Australia
  Member #17,095
  June 11, 2005
  225 Posts
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  Apr 13, 2006, 9:03 pm

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  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.
• goldrush

  Australia
  Member #17,095
  June 11, 2005
  225 Posts
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  Apr 13, 2006, 9:04 pm

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  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?
• dvdiva

  

  United States
  Member #2,338
  September 17, 2003
  2,063 Posts
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  Apr 13, 2006, 11:37 pm

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  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.