government wants to tax lotto wins

crazygeryy

go **** yourselves you've taken enough.

JackieChan

crazygeryy wrote: »

go **** yourselves you've taken enough.

Can you provide link to article?

Valetta

It's unearned income.

Why wouldn't they tax it like any other income?

camel jockey

Valetta wrote: »

It's unearned income.

Why wouldn't they tax it like any other income?

Well for a start they don't already, and haven't since the inception of the lottery, so there is clearly a difference between it and 'any other income'.

audman

crazygeryy wrote: »

go **** yourselves you've taken enough.

Let them go about their business and giddy on up outta here on their horses. If a member of government were to approach and propose a tax on my lotto winnings I know exactly what I would say. "Go on now let you, go about your business and giddy on up outta here on your horse".

Mr E

One politician in Kerry wants to tax lotto winnings. Big difference from "the Government".

http://www.radiokerry.ie/news/kerry-td-calls-for-government-tax-on-lottery-wins/

humanji

blackbullet wrote: »

tax the rich and the likes of bono then worrie about taxing lotto winners

I'd consider someone winning several million on the lotto to be rich.

Valetta

camel jockey wrote: »

Well for a start they don't already, and haven't since the inception of the lottery, so there is clearly a difference between it and 'any other income'.

But why should it be any different?

Seedy Arling

Do they have VAT or anything on the sale of lottery tickets much like tax on bets in the bookies? I think they abolished that or something though.

That would make them way more money than taxing the winnings. If you win five euro would this mean you have to pay tax on that as well?

corkgsxr

I think its fair enough. Most other countries do. If I won a few million im sure id survive if they took a few hundred

Princess Consuela Bananahammock

blackbullet wrote: »

tax the rich and the likes of bono then worrie about taxing lotto winners

Win the lotto and you ar the rich. The Bono-loophole needs to be closed, granted, but then he can decide for himself where he wants to live.

camel jockey

Valetta wrote: »

But why should it be any different?

You're the one suggesting it should change. Why should it change?

Valetta

camel jockey wrote: »

You're the one suggesting it should change. Why should it change?

Because winnings should never have been tax free in the first place.

bumper234

crazygeryy wrote: »

go **** yourselves you've taken enough.

Source?

kneemos

So if you get three stars they'll take one away?(Bono).

camel jockey

Valetta wrote: »

Because winnings should never have been tax free in the first place.

But they are, and always have been, so why should that change?

ted1

blackbullet wrote: »

tax the rich and the likes of bono then worrie about taxing lotto winners

Idiot. I didn't realise we'd be handing out worst post of the day so early

mod: banned.

bumper234

Do any Euro countries tax lottery winnings? It's my belief (that's all it is) that if you win euro millions it's tax free. Jeez if this is true then we are getting more like the good ole US of A every day. Next it will be "congratulations!!!!! you have won €100 million on the euro millions. Would you like to take a yearly payment of €800k for the next 65 years or would you like a lump sum of €59 million now?"

Sky King

corkgsxr wrote: »

I think its fair enough. Most other countries do. If I won a few million im sure id survive if they took a few hundred

Most other countries have a lotto where you can play for a euro and have a chance of winning tens of millions, the irish lotto is already one of the worst value for money lotteries in the world, taxing it would make it even lamer.

ted1

Princess Consuela Bananahammock wrote: »

Win the lotto and you ar the rich. The Bono-loophole needs to be closed, granted, but then he can decide for himself where he wants to live.

There's no loop hole, its a global company that makes profits from mostly outside Ireland which is based outside Ireland. Why not worry about the companies based here who pay little to no corporation tax

Valetta

camel jockey wrote: »

But they are, and always have been, so why should that change?

It should change because it's wrong that they are tax free. Not sure if I can be any clearer.

Can you give me one good reason why they should be tax free? Other than "because they are"?

If something is wrong then it should be put right.

camel jockey

Valetta wrote: »

It should change because it's wrong that they are tax free. Not sure if I can be any clearer.

Can you give me one good reason why they should be tax free? Other than "because they are"?

If something is wrong then it should be put right.

How is it 'wrong'? You are the one saying it should change, the onus is on you to explain why.

bumper234

Valetta wrote: »

It should change because it's wrong that they are tax free. Not sure if I can be any clearer.

Can you give me one good reason why they should be tax free? Other than "because they are"?

If something is wrong then it should be put right.

How is it "wrong" though?

The point of doing the lottery is so you can win a huge amount tax free! You pay tax on any interest you make over the lifetime, You pay vat on any purchases you make and when you die from living a decadent lifestyle of hookers and blow your kids pay a **** load of inheritance tax and then the cycle continues.

ted1

Valetta wrote: »

It should change because it's wrong that they are tax free. Not sure if I can be any clearer.

Can you give me one good reason why they should be tax free? Other than "because they are"?

If something is wrong then it should be put right.

It was set up to help charities, we have a small population, so our prizes are small enough. If there was tax due it would decrease the prize further and hence reduce the amount if people playing. Also as there are thousands if winners each week they would have to charge the smaller prizes tax to and it would become a costly exercise to chase up.
If someone one the jackpot I'm sure that they could find a good accountant to work out hike they can avoid paying tax, move to another state. Register a company, get company to buy ticket , get involved in investments and operations which are tax write downs etc

padd b1975

Lottery winners already pay consumption taxes every time they spend some of their winnings, they also pay tax on interest accrued from bank savings.

Valetta

In my opinion winnings should be treated as any other unearned income.

Are people really saying that it would put you off playing because if you were to win €10M you would have to pay over €3.3M in tax? Really?

Saying that someone could get a good accountant to avoid payint the tax is not a valid argument as this applies already.

I would suggest that only prizes over a certain amount should be taxed. Say €1,000.

Administration would be simple. Tax it at source.

Ruudi_Mentari

an I'll never win it; so I don't care attitude is what they expect so sock it to em Ah'rs.

camel jockey

Valetta wrote: »

In my opinion winnings should be treated as any other unearned income.

Are people really saying that it would put you off playing because if you were to win €10M you would have to pay over €3.3M in tax? Really?

Saying that someone could get a good accountant to avoid payint the tax is not a valid argument as this applies already.

I would suggest that only prizes over a certain amount should be taxed. Say €1,000.

Administration would be simple. Tax it at source.

We should also tax all social welfare payments - child benefit, OAP, JSA, rent allowance, carers allowance etc.

crazygeryy

Mr E wrote: »

One politician in Kerry wants to tax lotto winnings. Big difference from "the Government".

http://www.radiokerry.ie/news/kerry-td-calls-for-government-tax-on-lottery-wins/

is he not part of the government mr pedantic.ill consult you next time.

and sorry i had no link heard it on the radio.

That makes no sense at all
Why don't they just keep up with taking the forfeit money

http://www.irishtimes.com/news/almost-15-million-in-lottery-prize-money-goes-unclaimed-1.1390811

Valetta

camel jockey wrote: »

We should also tax all social welfare payments - child benefit, OAP, JSA, rent allowance, carers allowance etc.

I fully agree. And most of these are already taxed.

Princess Consuela Bananahammock

ted1 wrote: »

There's no loop hole, its a global company that makes profits from mostly outside Ireland which is based outside Ireland. Why not worry about the companies based here who pay little to no corporation tax

I thought he was using the "I'm not in ireland for six months" excuse? If not, I stand corrected

camel jockey

crazygeryy wrote: »

is he not part of the government mr pedantic.ill consult you next time.

Hope you get well soon.

mathie

camel jockey wrote: »

We should also tax all social welfare payments - child benefit, OAP, JSA, rent allowance, carers allowance etc.

Then we should tax that tax ad infinitum.

Goodbye national debt.

padd b1975

Mr E wrote: »

One politician in Kerry wants to tax lotto winnings. Big difference from "the Government".

http://www.radiokerry.ie/news/kerry-td-calls-for-government-tax-on-lottery-wins/

Not clicking on that link until I get an assurance that it's not one of those gombeen Healy-Raes.

Oryx

Why worry about tax you'll never pay on money you'll never win?

Shows they're scraping the bottom of the taxation barrel though.

Mr Freeze

Mr E wrote: »

One politician in Kerry wants to tax lotto winnings. Big difference from "the Government".

http://www.radiokerry.ie/news/kerry-td-calls-for-government-tax-on-lottery-wins/

crazygeryy wrote: »

is he not part of the government mr pedantic.ill consult you next time.

and sorry i had no link heard it on the radio.

Mr. E is correct, it has been suggested to the government, that they should tax lotto jackpot wins. As they would have got 18 million from that Euro Millions winner from last week, it was said that 18 million would have paid for all those special needs cuts that were protested against last week.

The government are yet to comment (I believe).

camel jockey

Valetta wrote: »

I fully agree. And most of these are already taxed.

Most of them? Why not all of them?

ted1

Princess Consuela Bananahammock wrote: »

I thought he was using the "I'm not in ireland for six months" excuse? If not, I stand corrected

You do stand corrected, Bono is an individual. And pays tax here too, there is a company based in the Netherlands of which he is a 20% shareholder.

Valetta

camel jockey wrote: »

Most of them? Why not all of them?

I've already said I think they all should be taxed.

rubberdiddies

Princess Consuela Bananahammock wrote: »

Win the lotto and you ar the rich. The Bono-loophole needs to be closed, granted, but then he can decide for himself where he wants to live.

The worrying thing about the thousands of comments about the "bono tax" is the thousands of people who haven't educated themselves about how tax works.

First off its not Bono. It's a company that he happens to be a Director of. That company, earns 95%+ of its revenue from outside Ireland. It's chooses as a company to pay its taxes in a different jurisdiction. It has 5 directors and needs a majority to make that decision ie: not just Bono. This is corporation tax and not personal tax.

But using Bono as an example, that company pays him a wage, oh let's say €20 million per year. He lives in Ireland so pays his 42% tax on that wage here in Ireland. It's not that hard to understand.

Back on topic though if I won €2 mill on the lotto, whilst I'd resent handing over tax on it to our glorious leaders, idstill be happy with €1.5mill. Though I'd much rather give the 500k directly to worthy causes

kneemos

They already get a good chunk off the lotto for "good causes"

camel jockey

Valetta wrote: »

I've already said I think they all should be taxed.

But they cost the state a hundred times what the un-taxed lottery 'income' costs the state in a year. You should be out protesting about this untaxed income.

bumper234

Valetta wrote: »

In my opinion winnings should be treated as any other unearned income.

Are people really saying that it would put you off playing because if you were to win €10M you would have to pay over €3.3M in tax? Really?

Saying that someone could get a good accountant to avoid payint the tax is not a valid argument as this applies already.

I would suggest that only prizes over a certain amount should be taxed. Say €1,000.

Administration would be simple. Tax it at source.

I would insta stop playing lottery if this happened!

bumper234

padd b1975 wrote: »

Not clicking on that link until I get an assurance that it's not one of those gombeen Healy-Raes.

You're safe

South Kerry Deputy Brendan Griffin says that the state could have received 18 million of the euro millions prize had it introduced his proposal

Princess Consuela Bananahammock

rubberdiddies wrote: »

The worrying thing about the thousands of comments about the "bono tax" is the thousands of people who haven't educated themselves about how tax works.

First off its not Bono. It's a company that he happens to be a Director of. That company, earns 95%+ of its revenue from outside Ireland. It's chooses as a company to pay its taxes in a different jurisdiction. It has 5 directors and needs a majority to make that decision ie: not just Bono. This is corporation tax and not personal tax.

But using Bono as an example, that company pays him a wage, oh let's say €20 million per year. He lives in Ireland so pays his 42% tax on that wage here in Ireland. It's not that hard to understand.

Back on topic though if I won €2 mill on the lotto, whilst I'd resent handing over tax on it to our glorious leaders, idstill be happy with €1.5mill. Though I'd much rather give the 500k directly to worthy causes

That isn't not knowing about the tax system, it's not knowing about the structure of Bono's companies.

Frosty McSnowballs

C'mon bitches....tax my €4 win!!!!

keysersoze0330

Why don't they put a tax on betting instead. Make too much sense i suppose. The amount of non-workers that spend the day gambling in my area is astounding.

Valetta

keysersoze0330 wrote: »

Why don't they put a tax on betting instead. Make too much sense i suppose. The amount of non-workers that spend the day gambling in my area is astounding.

There already is a tax on betting.

The bookies absorb it on behalf of the punters.

lau1247

Oryx wrote: »

Why worry about tax you'll never pay on money you'll never win?

because someday you or someone close to you might actually win!?! only then it will matter to you. By then it may be too late!

It is essentially fighting to keep a form of rights (which in Ireland, we give it away too easily).

The simple question I would ask is not why worry about the tax you may never win but rather why allow them to make you in a worst off position than before (position in terms of potential winnings). Yeah, you could argue that other countries tax their winning. Well in ireland it is currently not and we should voice to keep it that way. Cos them government just keep taking and taking

Bullseye1

Who would honestly stay here if they won the euro millions. A country full of begrudgers with a country run my monkeys.