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Congratulations! · In Australia, lottery winnings are classified as tax-free income · This includes all prizes won through Golden Casket, NSW Lotteries, Tatts,

If you win the Powerball and take the lump sum payment, right away, nearly a quarter of it is withheld for federal taxes And you're not off the Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

1b lottery Lottery wins are subject to a 30% TDS rate However, the TDS rate increases to % (including surcharge and BUT TAXES, MAN They're as inevitable as winning the Powerball jackpot is not Even after taxes — 24% federal and 8% Oregon — the winner's