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Do I have to pay tax on winnings

Posted 28 February 2016 under Tax Questions


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NC says:
26 February 2016 at 11:58

I have a small business running from home. Make on average about R5000-R6000 a month. I am not registered for tax. I recently won R40 000 from betting on soccer. Do I need to declare these winnings and how?

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TaxTimTaxTim says:
26 February 2016 at 13:58

No you do not need to declare these earnings and you will not have to pay tax on them. Is this a once off bet you won?


NC says:
26 February 2016 at 17:10

i bet 2-3 times a month for entertainment


TaxTimTaxTim says:
28 February 2016 at 20:35

Unless this becomes your actual income earned from this becoming an activity for profit making then you won't be taxed.


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