lottery

1 Topic by watermelon john 16-10-10 23:20:58

watermelon john
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Topic: lottery

Does your country have a lottery

Here in Japan lottery winnings are completely tax free. So if you win 2 million dollars (￥200,000,00) you pay no income taxes on it and the fun part is that for the most part you get it the day you win. You just open a bank account at Mizuho bank and it is automatically deposited.

All money you win is paid at once, not over 20 years or so.

Never did understand why in America your winnings are paid over time.

And by the way you don't go on TV even if you are a big winner. It is all anonomously done

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2 Reply by Olly 17-10-10 15:09:39

Olly
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Re: lottery

watermelon john wrote:

Never did understand why in America your winnings are paid over time.

I never knew this either!

In the UK we get it tax free and we can either make it public or remain anonymous if you choose!

I, unfortunately, am yet to win yet though - despite my best efforts!

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3 Reply by watermelon john 17-10-10 22:12:14

watermelon john
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Re: lottery

Olly wrote:

watermelon john wrote:
Never did understand why in America your winnings are paid over time.
I never knew this either!
In the UK we get it tax free and we can either make it public or remain anonymous if you choose!
I, unfortunately, am yet to win yet though - despite my best efforts!

Actually, I found out about the Japanese lottery by my wife winning over $1000 otherwise I would have never known about the system they use here. We only play it maybe 4 times a year and right now we are ahead default/smile