No Tax, The Winnings Are All Yours!

If you sell or otherwise dispose of an asset that was a prize from a lottery, you must declare any capital gains you make in your tax return You must declare

Lotto winnings are tax free in Australia, the money is yours Any interest you earn off lotto sitting in the bank will be taxable as income

are lottery wins tax free taxed in New South Wales from 1914 ( Income Tax Act Australia ( Taxation Act 1915 s 22 ) Lottery winnings were

are lottery winnings taxable Are lottery winnings taxed? In Australia, lottery winnings are classified as tax-free income How much tax do you have to pay for lottery