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Lotto winnings vs taxable ?

Posted 12 January 2016 under Tax Q&A


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Bok says:
12 January 2016 at 9:43

In 2012 the Min Fin announced the lotto winning excess of 25000 is taxable. On enquiry I was told the this was not promulgated yet so as of today lotto winnings is not taxable? is this true and if not, how do I pay the taxes and how much?

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TaxTim TaxTim says:
12 January 2016 at 13:10

No there is no tax on lotto winnings, you would need to declare this however in your tax return as a non-taxable event.


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