Euromillions

weldoninhio · 11-09-2019 3:48pm

salmocab wrote: »

No I thought I read that once you go in that it can all be arranged, it doesn’t have to be a syndicate you can just decide who gets what and it’s tax free so long as the lotto are cutting the cheques.

No chance. The Indo did a piece on it a while ago.

“Lotto winnings are tax free but income earned on winnings is taxable and if a winner wants to gift some cash to their relatives the recipient will have to pay gift tax on the money.”

marcbrophy · 11-09-2019 3:49pm

salmocab wrote: »

No I thought I read that once you go in that it can all be arranged, it doesn’t have to be a syndicate you can just decide who gets what and it’s tax free so long as the lotto are cutting the cheques.

I don't think that's true dude!

salmocab · 11-09-2019 3:51pm

weldoninhio wrote: »

No chance. The Indo did a piece on it a while ago.

“Lotto winnings are tax free but income earned on winnings is taxable and if a winner wants to gift some cash to their relatives the recipient will have to pay gift tax on the money.”

Ah balls was full sure I’d read once it’s done up front it’s okay. Lot of disappointed friends on Saturday morning so.

aktelmiele · 11-09-2019 3:53pm

You can avoid the tax by making every one part of the syndicate.

But if you do a syndicate it has to be equal shares.

You cant say that you have 80% and that Uncle Joe has 0.5% etc

If you put 10 names in the syndicate, they all get 16 Mil.

weldoninhio · 11-09-2019 3:54pm

salmocab wrote: »

Ah balls was full sure I’d read once it’s done up front it’s okay. Lot of disappointed friends on Saturday morning so.

Was a court case recently enough where some lad sued his step mother for his share of lotto money because he was named as part of the "syndicate".

Wheety · 11-09-2019 3:58pm

salmocab wrote: »

Ah balls was full sure I’d read once it’s done up front it’s okay. Lot of disappointed friends on Saturday morning so.

See this guy suing his stepmother for an equal share. They were trying to give him a tax free lumpsum by getting him to sign the ticket. Under Lottery rules he's entitled to a share. Be very careful who you're getting to sign it.

https://www.irishtimes.com/news/crime-and-law/courts/high-court/man-sues-stepmother-for-share-of-3-38m-lotto-win-1.2933653

Wheety · 11-09-2019 4:04pm

I'm sure with that money you can afford a canny accountant who can show you ways of avoiding some of the taxes.

But if I have that much and I'm giving it away, I don't care about the tax. It's a ridiculous amount of money and if I gave my brother €5m, I doubt he'd be very upset at having to pay €1.6m tax.

Feck it, I'll just up it to €7.5m so he still has €5m after tax.

cj maxx · 11-09-2019 4:05pm

I was convinced I was going to win it once. , the week Dolores Keane won it.
I got a phone call from o2 that morning to say I'd won an all expenses trip to the Chinese GP.
Instead of being happy all she could hear was the disappointment of 100 million or whatever going up I'm smoke . Ah well !

Franz Von Peppercorn II · 11-09-2019 4:36pm

salmocab wrote: »

Ah balls was full sure I’d read once it’s done up front it’s okay. Lot of disappointed friends on Saturday morning so.

If you do it before the draw then yes, it’s probably legal. I’m not sure how you would actually do that, though, with one ticket and no signatures.

Franz Von Peppercorn II · 11-09-2019 4:41pm

Wheety wrote: »

See this guy suing his stepmother for an equal share. They were trying to give him a tax free lumpsum by getting him to sign the ticket. Under Lottery rules he's entitled to a share. Be very careful who you're getting to sign it.

https://www.irishtimes.com/news/crime-and-law/courts/high-court/man-sues-stepmother-for-share-of-3-38m-lotto-win-1.2933653

Was suing. He won and she appealed. Then they came to an out of court agreement.

https://www.irishtimes.com/news/crime-and-law/courts/woman-and-stepson-resolve-row-over-share-of-3-3m-lotto-jackpot-1.3582192?mode=amp

Wheety · 11-09-2019 4:55pm

Franz Von Peppercorn II wrote: »

Was suing. He won and she appealed. Then they came to an out of court agreement.

https://www.irishtimes.com/news/crime-and-law/courts/woman-and-stepson-resolve-row-over-share-of-3-3m-lotto-jackpot-1.3582192?mode=amp

Aye, I knew it was from a couple of years ago, just couldn't remember the final outcome.

Still, if you get someone to sign the ticket, don't be surprised if they do the same. Money can change people and some will screw over their own family for more.

utyh2ikcq9z76b · 11-09-2019 5:10pm

facehugger99 wrote: »

I win €5 every week by not doing it.

What kind of daydreaming juice are you getting out of that? Any helicopters or yachts in it?

Another top tip is do the same numbers twice, be some shock to find out another person had the same numbers, going from 160 to 80 in a blink, it's not often you lose 80mil, at least you will have 2/3rds this way

WB Yokes · 11-09-2019 5:13pm

Melvin Creamy Ratio wrote: »

What kind of daydreaming juice are you getting out of that? Any helicopters or yachts in it?

Another top tip is do the same numbers twice, be some shock to find out another person had the same numbers, going from 160 to 80 in a blink, it's not often you lose 80mil, at least you will have 2/3rds this way

I do the same set of numbers my father done for 30 odd years for the past 5 years... few scratchcards won thats it.

Do many people play lotto in this way anymore i wonder or is it mostly quick picks.

Zulu · 11-09-2019 5:13pm

Brilliant!
My biggest fear was always the split pot. I'd be f'in sickened. I'll be doing the same number 4 times from now on. Can't wait to see that bollixeses face in lotto HQ when I'm getting a cheque for 4/5 of the jackpot! HA Sickener!!!

salmocab · 11-09-2019 5:14pm

WB Yokes wrote: »

I do the same set of numbers my father done for 30 odd years for the past 5 years... few scratchcards won thats it.

Do many people play lotto in this way anymore i wonder or is it mostly quick picks.

I’d say it’s mostly quick picks, rarely see people doing the slips anymore.

snowgal · 11-09-2019 5:28pm

salmocab wrote: »

I’d say it’s mostly quick picks, rarely see people doing the slips anymore.

really?? God I thought a lot of people had their magical numbers each week. Maybe Im in the old style still! But you see once you start doing the same numbers, you cant stop, just.in.case.!!

Wheety · 11-09-2019 5:29pm

salmocab wrote: »

I’d say it’s mostly quick picks, rarely see people doing the slips anymore.

Some people fill in the quick pick boxes on the paper slips and then hand them in

salmocab · 11-09-2019 5:34pm

snowgal wrote: »

really?? God I thought a lot of people had their magical numbers each week. Maybe Im in the old style still! But you see once you start doing the same numbers, you cant stop, just.in.case.!!

I’m sure plenty do, I’d rather not as if you use the same numbers and missed a week and they came out you’d be snapping.

snowgal · 11-09-2019 7:58pm

salmocab wrote: »

I’m sure plenty do, I’d rather not as if you use the same numbers and missed a week and they came out you’d be snapping.

Yep hence why I’ve a phobia of missing any daw in case

If I do miss one I maker sure not to check numbers though....
I don’t know what I’d do with €160 mill tbh. I genuinely think it’s too much to handle

castletownman · 11-09-2019 8:04pm

salmocab wrote: »

I’m sure plenty do, I’d rather not as if you use the same numbers and missed a week and they came out you’d be snapping.

My supervisor in work was telling me that her niece has the app, and picks the same numbers every week. One week, she was abroad on holiday, and didn't bother entering the draw. Her numbers were drawn that week. Imagine!

cichlid child · 11-09-2019 8:11pm

I wonder how syndicates work when playing Euromillions online?
No signature just an email address.

Motivator · 11-09-2019 8:32pm

castletownman wrote: »

My supervisor in work was telling me that her niece has the app, and picks the same numbers every week. One week, she was abroad on holiday, and didn't bother entering the draw. Her numbers were drawn that week. Imagine!

Wow, that’s the first time I’ve ever heard that happened. Ever.

Maybe all along the real story is that she went on holidays and asked her dad to do her numbers. He went to do the lotto but having not won in 20 years of doing it he stopped in to the pub, coincidentally located directly beside the newsagents where he always did the lotto, and decided to spend the lottery money on one pint before arriving home to find his wife crying because their numbers finally came up. It’s such a believable story.

Wheety · 11-09-2019 8:39pm

castletownman wrote: »

My supervisor in work was telling me that her niece has the app, and picks the same numbers every week. One week, she was abroad on holiday, and didn't bother entering the draw. Her numbers were drawn that week. Imagine!

Did your supervisor also see a black woman leave a buggy at the bus stop and said she'll just get another one from the Social?

Did the niece kiss someone on holiday and when she got home, she had a rash on her mouth. Her GP sends her to a specialist and it turns out the rash can only be caught from dead bodies?

facehugger99 · 12-09-2019 12:09pm

castletownman wrote: »

My supervisor in work was telling me that her niece has the app, and picks the same numbers every week. One week, she was abroad on holiday, and didn't bother entering the draw. Her numbers were drawn that week. Imagine!

Sounds legit.

IAMAMORON · 12-09-2019 12:15pm

It is my understanding that lotto wins are not subject to CAT. But dispersements of winnings need to be immediate.

For example, i cant buy a 10 million 5 % annual bond and gift my sister the 500k at the end of the year. But I can gift her the 10 million as soon as I win it. I stand to be corrected on this, but given that I can elect to say that my sister had a share of my winning ticket , the rev know this and choose not to bother chasing winnings dispersements, they basically can' t prove otherwise.

weldoninhio · 12-09-2019 12:19pm

IAMAMORON wrote: »

It is my understanding that lotto wins are not subject to CAT. But dispersements of winnings need to be immediate.

For example, i cant buy a 10 million 5 % annual bond and gift my sister the 500k at the end of the year. But I can gift her the 10 million as soon as I win it. I stand to be corrected on this, but given that I can elect to say that my sister had a share of my winning ticket , the rev know this and choose not to bother chasing winnings dispersements, they basically can' t prove otherwise.

This has already been disproven.

IAMAMORON · 12-09-2019 12:39pm

weldoninhio wrote: »

This has already been disproven.

How can they prove it?

Unless the dispone actually states that they were not a syndicate member, basically shooting their toes off? It makes no sense. You just pay a solicitor a tenner to swear an affidavit between the two parties, job done. The rev cannot prove otherwise, no matter how they try.

gerrybbadd · 12-09-2019 12:43pm

castletownman wrote: »

My supervisor in work was telling me that her niece has the app, and picks the same numbers every week. One week, she was abroad on holiday, and didn't bother entering the draw. Her numbers were drawn that week. Imagine!

That old chestnut

weldoninhio · 12-09-2019 12:44pm

IAMAMORON wrote: »

How can they prove it?

Unless the dispone actually states that they were not a syndicate member, basically shooting their toes off? It makes no sense. You just pay a solicitor a tenner to swear an affidavit between the two parties, job done. The rev cannot prove otherwise, no matter how they try.

You have to sign the ticket. Whoevers name is on the ticket wins the money, if your sisters name is on the ticket, she won it, not you. If your name is on the ticket and you give it to your sister when you claim it, she will be taxed. If two names are on the ticket it is evenly split. There was a case referred to a few posts back.

dxhound2005 · 12-09-2019 1:30pm

There is a document which has to be completed when syndicates are collecting their winnings. I would take real legal advice around this, if I bought a ticket which won €160 million, and decided to invent a syndicate subsequently. Relying on things you read on the internet would be foolish.

https://www.lottery.ie/useful-info/syndicates

https://www.lottery.ie/content/dam/pli/docs/instructions-for-syndicates.pdf

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