💰 Tax on (online) Gambling in South Africa

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The South African Revenue Service has been exploring the possibility of implementing a form of taxation on gambling winnings since the Minister of Finance's.


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Gambling winnings to be taxed 15% | SAnews
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tax on casino winnings south africa

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Cape Town - Those who rake in gambling winnings of over R25 , including billion, Gordhan said the withholding tax on gambling would come into effect from April South African Government News12 hours ago.


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tax on casino winnings south africa

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If you play the lottery or undertake any form of gambling professionally - and regularly win prizes to the extent that your winnings are your primary source of income.


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tax on casino winnings south africa

JK644W564
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The South African Revenue Service has been exploring the possibility of implementing a form of taxation on gambling winnings since the Minister of Finance's.


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tax on casino winnings south africa

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The South African Revenue Service has been exploring the possibility of implementing a form of taxation on gambling winnings since the Minister of Finance's.


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tax on casino winnings south africa

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South Africa casino players may be surprised to learn that South Africans do not have to pay tax on lottery, casino or competition winnings.


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tax on casino winnings south africa

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Gambling Tax in South Africa. Lottery winnings. Lottery wins are not included in an individuals taxable income and are generally exempt from taxes. You would.


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Gambling Tax in South Africa. Lottery winnings. Lottery wins are not included in an individuals taxable income and are generally exempt from taxes. You would.


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tax on casino winnings south africa

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As is frequently the case, federal and state federal government's single out casino payouts for unique taxes of their own.


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tax, but it is important that individuals who win this Lotto prize money should still declare it to the South African Revenue Services (SARS).


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tax on casino winnings south africa

Should these profits be taxed and if so, how is the tax to be collected? When it comes to treating gambling winnings as taxable, there are two relevant, and contradictory, pieces of law that are often cited. The Law When it comes to treating gambling winnings as taxable, there are two relevant, and contradictory, pieces of law that are often cited. As many online gamblers will tell you, they may profit one day and lose the next, so in theory they should be allowed to deduct any losses from any profits. This will be the case whether you bet on the lotto, horse races, sports or casino games. It does not matter whatever their level of experience or profit, whether you are a lucky lottery winner or a successful sports gambler. It also indicated that the issue of whether gambling proceeds could be taxed should be decided case by case. Estimated reading time: 4 minutes.

The South African online tax on casino winnings south africa industry is booming. Tax on Gambling The South African online casino industry is booming.

So what about South Africans who gamble online? Along with other forms of online gambling, and millions of South Africans gamble online every week.

That is, if your gambling does not constitute a regular form of income, you will not have to pay tax on any winnings.

But this increase in gambling activity has led to a renewed focus on important issues around gambling. The latter could be taxed, but the former, since they were not the result of organised activity, were not liable to be taxed. Ultimately, resolving the tax issue is simply part of the wider problem of the status and legality of online gambling.

There remain some significant practical obstacles to any attempt at taxing such winnings. The South African government has at various times adopted an inconsistent approach to tax on casino winnings south africa gambling and the associated tax issue.

The Future The South African government has at various times adopted an inconsistent approach to online gambling and the associated learn more here issue.

The Morrison case made the situation even more complicated. Any attempt by a government to address the former will need to resolve the latter, so that South African online gamblers can know exactly where they stand. The good news is that if you are an ordinary punter. This before a final tax amount is calculated; a process that could be extremely complicated. It applies to all forms of taxation, including capital gains tax, though there is an important caveat. More fundamentally, it is not clear how a tax on online gambling winnings would even be collected or at what stage of the gambling transaction the tax would apply. The argument appears to be that if you bet regularly, it is not a leisure activity. This is particularly relevant for online casino players, who are often forced to use foreign-based casino sites, due to the uncertain legal status of South African online casinos. If you are in doubt about your requirement to pay tax, it could be worth speaking to a legal or tax professional on an informal basis. For a start, if winnings can be taxed, as with the profits of bookmakers and casinos, can losses be used to offset the winnings for tax purposes? There are examples of ministers and officials indicating that tax should be paid on their winnings by all gamblers. On the other hand, the case of Morrison v CIR, found that a gambler who carried on regular betting activities, was liable to pay tax on his winnings. Such possibilities are obviously alarming for South African online gamblers. They do seek to levy tax on the profits of gamblers who are organised and successful enough that their gambling could be considered a regular means of income. In theory, winnings obtained through foreign gambling or illegal gambling in South Africa, could be liable to capital gains tax. Like a vocation, and so any profits can be taxed, though this also means losses can be allowed. This includes the tax status of any winnings that a player gains from gambling online. For a small group of people, including those who work in the betting or gambling industry, or in sports that are regularly the subject of gambling, any winnings they gain can be taxed, as it is considered that those profits arose as a result of their work.