Do you need to pay tax on lottery winnings?

is lottery tax free   Dan is it better to pick your own lottery numbers

Interesting story indeed If an individual receives a lottery win in Australia it is generally deemed a one off prize and not taxable The website advises

Taxation of Lottery was done under two tax brackets 12% and 28% Goods and Services Tax is a destination based tax It is one indirect tax for the whole Every time you win a lottery, you have to pay a flat tax of at least % That's easy money for the IT department, don't you think?

hayama sayuri No Under Section 58, no tax exemption or deduction can be availed by the person winning cash or assets as prize from a game show, lottery Some states have no income tax or don't tax lottery winnings Sign up for free newsletters and get more CNBC delivered to your inbox