QUOTE(almeizer @ Dec 20 2010, 06:38 PM)
Interested to know also for those Jackpot from Magnum and Toto.
It is not taxable? FREE MONEY?Tax on winning big ticket items, Do i need to pay tax if I win a prize?
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 Dec 21 2010, 01:53 PM
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Dec 21 2010, 02:16 PM
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QUOTE(almeizer @ Dec 21 2010, 02:03 PM) U quote wrong people? I did not said it's not taxable. I mean I interested to know whether those jackpot is taxable or not? As i've said it is not taxable. WHY? Because when you buy RM 1 ticket, you also paid RM 0.10 for Government Service Tax and RM 0.05 for service tax.Mr. A jackpot RM 10million. RM 10 million will be paid nett to Mr. A, and the money will not be tax by LHDN. Of course you have to show them proof that you kena. Mr. A jackpot RM 10million. Assume Mr. B has RM 10 million undeclared money. Then, Mr. B can buy Mr.A ticket for RM 10.5 million. Then Mr. B go to buy something worth RM10 million WITHOUT PAYING any TAX for that RM 10million and declare it to LHDN it is JACKPOT. Added on December 21, 2010, 2:21 pm QUOTE(ghoss @ Dec 21 2010, 02:07 PM) Sure got tax , that's why people buy 4D from syndicates as they give higher payout without the tax. NO tax on rewarded money. What you are saying is PAYING Government Service Tax which is totally different thing.This post has been edited by edyek: Dec 21 2010, 02:25 PM |
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