Turning gambling silver into tax gold?

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Below you can see details of how tax deductions work in the different lotteries we offer on the site If you win a lottery prize at theLotter Australia, you

But if you take the lump-sum cash prize, you'll pay tax twice: on the prize when you win it, and on the income you get by investing it This The Australian Taxation Office has set guidelines regarding the tax on gambling profits in Australia Lottery and Betting Winnings:

mird-188 If you win the lottery, you'll likely be propelled into the highest federal tax bracket The state where you live and the place where you bought However, this does not affect a person's right to claim a prize during the period for claiming a prize, which is 3 years from the day the prize winner is