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 How does toto company earn money if daily jackpot

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TryingToSurvive
post Feb 9 2022, 11:50 AM

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QUOTE(jmas @ Feb 9 2022, 11:48 AM)
the payout is not instant, and not 1 lump sum
its either
i. by installments over 10-30years
or
ii. by lump sum, reduced income tax and other taxes, usually ~50-60% of actual won
*
This is false. Lump-sum tax is only got USA.
Malaysian practices a tax paid upon purchase with no wind fall tax.
If you win sports toto 50.05mil tomorrow, the cheque written to you will be 50.05mil
U bank in to your account 50.05m, if lhdn ask why you got so much money? U just show them Ur winning ticket and then they go away because 50.05mil is ALL legally paid winnings
TryingToSurvive
post Feb 9 2022, 12:01 PM

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330 posts

Joined: Sep 2019
QUOTE(jmas @ Feb 9 2022, 11:53 AM)
eh? not kena income tax meh?
I kena con by LHDN?

edit 1: shiat, >7yrs income tax can chase back?
edit 2: from LHDN, i mean
*
No don't have to declare under income tax.
> 7 years don't try la income tax throw Ur documents away d lol
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