Lottery Winnings

[Balbus]

Spain has announced as part of its austerity measures that lottery winnings will now be taxed at 20%. Should we do the same? Should all income, however obtained, be taxed at the same rate? Should there be a limit on the amount one can win on a lottery, and the winnings spread more widely? Discuss.

[Less]

Originally Posted by Balbus

Discuss.

I'm quite prepared to discuss IF, you give us your opinion first Mr. Lecturer, this isn't a college debate club, your guidance would be most welcome.

[jaysay]

Well I doubt it would make much difference, people would stop playing it, so it would be counter productive in the long run and the good causes which are now supported wood lose out

[Eric]

Tax! On lottery winnings? You gotta be joking.

[Balbus]

Originally Posted by Eric

Tax! On lottery winnings? You gotta be joking.

The Spanish Government aren't!

[Boeing Guy]

Well C'mon and his mates would be happy, after all they want to tax the rich

[Benipete]

I heard about this earlier this morning on Cool FM the Costa Blanca radio station,It does not apply to the first 2500 Euros.But to all other amounts.

Do American casinos charge a form of tax on large winnings??

[Less]

Originally Posted by Benipete

I heard about this earlier this morning on Cool FM the Costa Blanca radio station,It does not apply to the first 2500 Euros.But to all other amounts.

Do American casinos charge a form of tax on large winnings??

It's the land of the free they don't have any taxes do they?

[Eric]

Originally Posted by Benipete

I heard about this earlier this morning on Cool FM the Costa Blanca radio station,It does not apply to the first 2500 Euros.But to all other amounts.

Do American casinos charge a form of tax on large winnings??

I don't know; but if you lose more than you afford, it could cost you an arm and a leg

And there is no tax on lottery winnings in Canada ... altho' some think that the lottery itself is a kind of tax.

[kestrelx]

Originally Posted by jaysay

Well I doubt it would make much difference, people would stop playing it, so it would be counter productive in the long run and the good causes which are now supported wood lose out

Good point - wooden top! Your spellings out again!

[Restless]

Originally Posted by kestrelx

Good point - wooden top! Your spellings out again!

Oh no you haven't joined the grammar nazi club have you?

[egg&chips]

Originally Posted by Eric

I don't know; but if you lose more than you afford, it could cost you an arm and a leg

And there is no tax on lottery winnings in Canada ... altho' some think that the lottery itself is a kind of tax.

It's certainly my opinion Eric. I object to how most revenue is gathered in the North and 'good causes' money distributed in the South. I suspect that a decent proportion of lottery cash is spent on stuff that our beloved leaders would have to finance were it not being done already. I think the lottery winnings should be taxed over a certain amount like in betting shop winnings on untaxed wagers.

By the way does anyone else object to the way the BBC gives a free advert to the profit making organisation Camelot??- sorry if it veers from the original post.

[Benipete]

Just as a point of interest last weeks £80 million Euro Lottery was won by a ticket bought in Barcelona.

Fortunately for the winner the new tax law has yet to come into force.

[Retlaw]

Originally Posted by Benipete

Just as a point of interest last weeks £80 million Euro Lottery was won by a ticket bought in Barcelona.

Fortunately for the winner the new tax law has yet to come into force.

Wouldn't surprise me if he/she emigrated, especially so seeing the number of relatives and friends he/she will suddenly aquire. And there's nowt to stop the goverment back dating it.

[ToffeeGuy]

The Lottery is a tax. It's a tax on hope