If i be to win big money on Keno or the lotto. is at hand a levy on it formerly i even receive the funds?



Answers:
(Australian answer) If your winnings be not received contained by a lump sum as a windfall gain, which is not taxable, but instead be rewarded to you contained by installments over a term of time after they would be frequent taxable income.
I believe that in Australia the winnings are tax-free. It would be nice to win wouldn't it.
If you are a professional lotto or keno player, your winnings would be considered taxable income, as it would be considered that is to say income from your profession.

However, unanimously, winnings, set as a "windfall gain" are not considered taxable income by the Australian Taxation Office.

See http://www.ato.gov.au/content/downloads/...

or if open, consult an income rates professional.

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