🖐 Are you required to pay tax on Gambling and Lottery winnings in South Africa?

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Prize money from the national lottery is regarded as capital and win this Lotto prize money should still declare it to the South African Revenue.


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Should I pay tax on my gambling profits or Lotto winnings? - Jy en die RegJy en die Reg
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The winner came forward on Tuesday to claim the PowerBall prize from the is authorised by, and conducted in terms of, the laws of South Africa. "which may in future lead to additional tax considerations on gambling winnings". Session ID: f3a0e83ef3d6bd94b7fbc Player Element ID.


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The winner came forward on Tuesday to claim the PowerBall prize from the is authorised by, and conducted in terms of, the laws of South Africa. "which may in future lead to additional tax considerations on gambling winnings". Session ID: f3a0e83ef3d6bd94b7fbc Player Element ID.


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Tax on Lottery Winnings. Simply put: there is no tax to pay on lottery prizes won in South Africa. Any amount of money won in a lottery is considered capital.


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Tax on Lottery Winnings. Simply put: there is no tax to pay on lottery prizes won in South Africa. Any amount of money won in a lottery is considered capital.


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Back in the Budget, the Minister proposed a withholding tax on gambling winnings. The Minister proposed that, with effect from April


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Well here's some good news for you; any prize money that you win from the national lottery in South Africa will be considered as capital and you.


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The South African Revenue Service has been exploring the possibility of implementing a form of taxation on gambling winnings since the Minister of Finance's.


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Well here's some good news for you; any prize money that you win from the national lottery in South Africa will be considered as capital and you.


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Well here's some good news for you; any prize money that you win from the national lottery in South Africa will be considered as capital and you.


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Financially distressed companies — What about the employees? All rights reserved. We accept no responsibility for any loss or damage, whether direct or consequential, which may arise from reliance on the information contained in these pages. Please consult one of our lawyers on any specific legal problem or matter. We make every effort to ensure that the content is updated regularly and to offer the most current and accurate information. In the Budget, the Minister announced that government intends to publish draft legislation pertaining to a gambling tax for public comment in To stay up to date on the latest legal developments that may potentially impact your business, subscribe to our alerts and seminar invitations by completing this form. The aim for introducing this withholding tax on gambling winnings was to discourage excessive gambling. The Minister stated that this was in line with practice in a number of other countries, including the United States of America. Please refer to the full terms and conditions on the website. For permission to reproduce an article or publication, please contact us cliffedekkerhofmeyr cdhlegal.

Back in the Budget, the Minister proposed a withholding tax on gambling winnings. In the Budget government proposed the introduction of a national gambling tax based on gross gambling revenue.

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The information and material published on this website is provided for general purposes only and does not constitute legal advice. Stay in your lane: Lessons on the duty to contact trade unions before dismissing employees involved in a strike.