Tax On Lottery Winnings Australia


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When do you have to pay tax on lottery winnings? The cash prize itself from winning lotteries in Australia is not taxable. The earnings you get from it is another story. For instance, if you decide to put the cash prize in the bank and that money earns interest, then that becomes taxable. You will also have to pay tax on lottery winnings if you won a house or a car, for example, and you decide to sell them.

Tax On Lottery Winnings Australia

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Tax On Lottery Winnings Australia

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