Tax on lotto wins

D

dewdrop

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I notice that lotto earnings in the U.S. are heavily taxed. Wondering in view of our financial situation has this source of revenue ever being considered?
 
dewdrop said:
I notice that lotto earnings in the U.S. are heavily taxed. Wondering in view of our financial situation has this source of revenue ever being considered?
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Oh please no! It's the only dream left to the broke masses. No tax.

A.
 
Protocol said:
The relevant tax would be CAT.
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I think you are incorrect on this one CAT refers to Gifts from others or Inheritance. IMO the relevant Tax would be CGT, but please do not wish this on Joe Public
 
CGT implies an asset that has been acquired, and is now disposed.

Surely CAT is a tax on acquisitions??
 
I'm pretty sure CAT it is. It even sounds logical, that's if one can expect logic from revenue.
Please don't burst our bubble. It's the one fantasy left in this doom and gloom
 
Black Sheep said:
I'm pretty sure CAT it is. It even sounds logical, that's if one can expect logic from revenue.
Please don't burst our bubble. It's the one fantasy left in this doom and gloom
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I can't see em going down that route tbh, as I think it would be counter-productive, but that said they could levy a small rate of tax to begin with..:(




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when we have nothing left we have nothing to loose
 
'twud see the end of the Lotto to tax it.

It's dear enough to do in these recessionary times not to mind to think that if we do beat the odds the Government will claw it back again.

As Ali said ... we need some dreams! (not touched by tax!)
 
A friend of mine use to say with all the vat you pay cos you'd buy so much stuff, stamp duty cos you'd buy a few houses and then the dirt tax with the left over money that it isn't tax free at all. :D

That said I don't see any of the parties putting this out there as an election promise.
 
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