What will happen to taxes if lottery and all betting tickets are hit?
What will happen to taxes if lottery and all betting tickets are hit?
Get a lot of money with lottery and betting tickets.Such a dream may happen in reality.However, the real world has tax issues.This time, I will explain the tax of lottery and betting tickets in detail, with specific examples.
Lottery tax
Lottery is a jumbo lottery of local governments, scratch -type lottery in which coins are cut with coins to display results, and numerical lotteries.If you get the winning money with these lotteries, you do not need to pay taxes."Article 13 of the Flying Certificate Law" clearly states the exemption of the winning money.This is because when the lottery is purchased, about 40 % of the purchase price is paid as local government resident tax.Similarly, sports promotion lottery is not taxed on the refund (Article 16 of the Law on Implementation of Sports Promotion Votes, etc.).However, if you give or inherit these elections, a gift tax and inheritance tax will be charged.In addition, purchasing a lottery and sports lottery overseas is illegal.
Betting tax tax
Taxes will be charged for a betting ticket refund.Depending on the purchase form of the betting ticket, it is divided into either "temporary income" or "miscellaneous income".In the case of a common betting ticket purchase, such as purchasing a betting ticket on the weekend, the profit obtained with a betting ticket is classified into temporary income.The deduction is permitted to 500,000 yen for temporary income, and there is no need to declare unless it exceeds 500,000 yen.The calculation of the temporary income amount is (total income amount -1/2 -2/2 dollar amount to earn money to earn income).For example, suppose you buy a betting ticket of 100,000 yen and get a refund of 1 million yen.In that case, (1 million yen -100,000 yen (betting ticket purchase amount) -500,000 yen (deduction)) x 1/2 = 200,000 yen is the amount to be filed as income.In addition to this amount, the income tax and resident tax are determined by combining other income.In the case of temporary income, a betting ticket, transportation and communication expenses is not allowed as expenses.Therefore, no matter how much money you spend before the betting ticket hits in the previous example, the taxable income amount for 200,000 yen will not change.On the other hand, if you have been purchasing a betting ticket as part of asset management for many years, the profits obtained by betting tickets are classified as miscellaneous income.Miscellaneous income must be filed from 200,000 yen or more.The calculation of the taxable amount of miscellaneous income is "total income -required expenses".For example, suppose you buy a 1 billion yen betting ticket a year and receive a 2 billion yen refund.In that case, 2 billion yen to 1 billion (all betting tickets, including a betting ticket) = 1 billion yen will be declared.In addition to this amount, the income tax and resident tax are determined by combining other income.In miscellaneous income, a betting ticket, transportation expenses and communication expenses are recognized as expenses.Therefore, it is possible to save a lot of money because the miscellaneous income can be used as a cost of a lost betting ticket compared to a temporary income.However, the hurdles recognized as miscellaneous income are very high.According to the Supreme Court ruling and the National Tax Agency, it is classified as a temporary income or miscellaneous income, taking into account the period, number, frequency, and duration of profits, the number of betting tickets.The case that is classified as miscellaneous income is assumed to be a mechanical and large number of betting tickets using a computer, so it is better to think that it does not apply to most people.Therefore, we recommend that you consider the profits obtained with a betting ticket as a temporary income.In addition to horse racing, the above taxes are common in public competitions such as boat racing, bicycle racing, and auto racing.
Consult if you are in trouble!
As mentioned above, lottery is tax -exempt, betting tickets, etc. are taxed.In particular, the judgment of temporary income or miscellaneous income is a specialized topic, so if you are in trouble, consult a tax accountant or other expert.Recently, more and more people are purchasing betting tickets on the Internet.These remain history, so you will be checked at the tax office.If you make a profit, be sure to calculate and declare.Source Lottery National Tax Agency
Financial field editorial department
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