Guest Guest Posted November 17, 2019 Report Share Posted November 17, 2019 I'm very fortunate that I won Toto early this year. I just want to know how will I declare it in my income tax. Quote Link to comment Share on other sites More sharing options...
Guest Jayden Posted November 17, 2019 Report Share Posted November 17, 2019 Call IRAS hotline. They will ask you for the winning amount and tell you the amount to pay. Quote Link to comment Share on other sites More sharing options...
HendryTan Posted November 17, 2019 Report Share Posted November 17, 2019 https://www.iras.gov.sg/IRASHome/Individuals/Locals/Working-Out-Your-Taxes/What-is-Taxable-What-is-Not/Winnings--Toto--4D--etc--/ Winnings (Toto, 4D, etc.) Winnings from betting such as 4D, Toto, football, Singapore Sweep, horse racing, fruit machine (jackpot) and casino winnings, etc. in Singapore are not taxable as they are windfalls and not considered as an income. Reporting Winnings You do not need to declare winnings since they are not taxable. The.Intrv. 1 Quote Link to comment Share on other sites More sharing options...
feedersmiracle Posted November 17, 2019 Report Share Posted November 17, 2019 Windfalls... I wish the wind would fall on me. Congratulations! 22 minutes ago, Guest Guest said: I'm very fortunate that I won Toto early this year. I just want to know how will I declare it in my income tax. Quote Speaking loudly, suffers softly. Smiles so wide, cuts unseen inside.Bitin' the bullet, but never kick the bucket. Link to comment Share on other sites More sharing options...
Think Of Others Posted November 17, 2019 Report Share Posted November 17, 2019 56 minutes ago, Guest Guest said: I'm very fortunate that I won Toto early this year. I just want to know how will I declare it in my income tax. Congratulations! Hope you have not returned the whole windfall to TOTO. Quote Link to comment Share on other sites More sharing options...
Guest John Posted November 18, 2019 Report Share Posted November 18, 2019 2 hours ago, Guest Guest said: I'm very fortunate that I won Toto early this year. I just want to know how will I declare it in my income tax. U have the time to write here asking irrelevant people but not www.iras.gov.sg Quote Link to comment Share on other sites More sharing options...
freeseme Posted November 18, 2019 Report Share Posted November 18, 2019 12 minutes ago, Guest John said: U have the time to write here asking irrelevant people but not www.iras.gov.sg Probably just trolling.... Quote Link to comment Share on other sites More sharing options...
Garyl Posted November 18, 2019 Report Share Posted November 18, 2019 (edited) duplicate Edited November 18, 2019 by Garyl Quote Link to comment Share on other sites More sharing options...
Guest Guest Posted November 18, 2019 Report Share Posted November 18, 2019 8 hours ago, Guest Guest said: I'm very fortunate that I won Toto early this year. I just want to know how will I declare it in my income tax. You can give me the money, I can help you pay... I guarantee IRAS won't come for you. Quote Link to comment Share on other sites More sharing options...
fab Posted November 18, 2019 Report Share Posted November 18, 2019 If you need to pay , IRAS will look for you instead. Don't worry. mate69 1 Quote 鍾意就好，理佢男定女 never argue with the guests. let them bark all they want. 结缘不结怨 解怨不解缘 After I have said what I wanna say, I don't care what you say. 看穿不说穿 Link to comment Share on other sites More sharing options...
Guest Do Good Do Together. Posted November 19, 2019 Report Share Posted November 19, 2019 I won $10 TOTO and decided, due to my kindness, donated them to Singapore pool to do good for charity. They were so kind, in return, to give me SGD10 worth of another TOTO ticket. Quote Link to comment Share on other sites More sharing options...
lonelyglobe Posted November 21, 2019 Report Share Posted November 21, 2019 one lucky winner just won the 9m jackpot.... By the way, was wondering grp 2 they mention 9 winning shares of 97k, they have 7 individual winners and the eighth share is 24 of them from itoto and ninth share is 23 of them from itoto, does that mean each of them will get 97k or they have to share among the 24/23 winners? Quote Link to comment Share on other sites More sharing options...
benedict5856 Posted November 21, 2019 Report Share Posted November 21, 2019 1 hour ago, lonelyglobe said: one lucky winner just won the 9m jackpot.... By the way, was wondering grp 2 they mention 9 winning shares of 97k, they have 7 individual winners and the eighth share is 24 of them from itoto and ninth share is 23 of them from itoto, does that mean each of them will get 97k or they have to share among the 24/23 winners? the eighth and ninth will share the $97k each. So each person in that group will get about $4k plus. Quote Link to comment Share on other sites More sharing options...
lonelyglobe Posted November 22, 2019 Report Share Posted November 22, 2019 7 hours ago, benedict5856 said: the eighth and ninth will share the $97k each. So each person in that group will get about $4k plus. Thanks for clarification...not so fantastic win, unless they are the winner of grp 1, then still can get a few hundred thousands... Quote Link to comment Share on other sites More sharing options...
Nipoet Posted November 22, 2019 Report Share Posted November 22, 2019 14 hours ago, lonelyglobe said: one lucky winner just won the 9m jackpot.... By the way, was wondering grp 2 they mention 9 winning shares of 97k, they have 7 individual winners and the eighth share is 24 of them from itoto and ninth share is 23 of them from itoto, does that mean each of them will get 97k or they have to share among the 24/23 winners? From (http://www.singaporepools.com.sg/en/rules/Pages/toto-game-rules-general.html) : The Group 2 pool amount, which is eight per cent (8%) of the Prize Pool plus any "snowballed" amount(s), shall be shared equally among the total number of winning shares of the Group 2 prize. Winning Shares Prize Group Share Amount No. of Winning Shares Group 1 $9,080,133 1 Group 2 $97,944 9 This means the $97,944 is divided by 9 shares, = $10882.67 per share. Of the 9, the first 7 are System/Ordinary entries, meaning they each will get the full $10,882.67. The 8th and 9th, being iToTo's, will be further divided into 28 parts: iTOTO allows you to buy one or more units of a Quick Pick System 12 Entry for the current draw. An iTOTO bet is a Quick Pick System 12 Entry divided into 28 units. Each unit costs $33 (cost of a System 12 Entry of $924 divided by 28) So, even though there are 24 winners for the 8th entry, each of the 24 winners will get $10882.67/28 = $388.67 per share. Same for the 9th Entry, even though there are lesser winners (23). It just means SingaporePools payout to lesser winners, but the amount is the same as the above ($388.67). Quote Link to comment Share on other sites More sharing options...
lonelyglobe Posted November 22, 2019 Report Share Posted November 22, 2019 OMG, I tot is 7 individual get 97k and the 97k divided by 24 for the eighth share and 97k divide by 23 for the ninth share.... Win grp 2 and get $388, WTF... Quote Link to comment Share on other sites More sharing options...
Guest Punter Posted November 22, 2019 Report Share Posted November 22, 2019 6 hours ago, lonelyglobe said: OMG, I tot is 7 individual get 97k and the 97k divided by 24 for the eighth share and 97k divide by 23 for the ninth share.... Win grp 2 and get $388, WTF... That was what I thought so. This is so unfair to Group 2 winner, they were so close and the money accumulated should be high, in correspond to Group 1 price. For decades, I thought the share amount should be the actual amount received by each winners. I think when Group 1 hit 10,0000,000 and there were 10 winners, SP will show the share amount as SGD1,000,000 (for each winner). As in the case above, each winner should get 97K for Group 2. Anyone can share the light? Quote Link to comment Share on other sites More sharing options...
deathblade88 Posted November 22, 2019 Report Share Posted November 22, 2019 On 11/18/2019 at 7:10 AM, feedersmiracle said: Windfalls... I wish the wind would fall on me. Congratulations! You had been blown by the wind here too !!! Haha 😜 Quote Link to comment Share on other sites More sharing options...
leo yok loo Posted November 24, 2019 Report Share Posted November 24, 2019 Hi TS... If you win big in toto, dont worry, ira will look for you if u dont pay tax. I tot you want to ask how NOT to pay tax. Quote Link to comment Share on other sites More sharing options...
kidster Posted November 24, 2019 Report Share Posted November 24, 2019 On 11/18/2019 at 6:47 AM, Guest Guest said: I'm very fortunate that I won Toto early this year. I just want to know how will I declare it in my income tax. Regardless of the amount. Lock up half of it to safeguard from yourself. Pass the key to your mother. I have seen how many people end up losing all the winnings because they don't know how to manage the fortune overnight. Quote Link to comment Share on other sites More sharing options...
Guest Guest Posted November 24, 2019 Report Share Posted November 24, 2019 On 11/18/2019 at 6:47 AM, Guest Guest said: I'm very fortunate that I won Toto early this year. I just want to know how will I declare it in my income tax. This is singapore! Everything also must tax big big. Even schooling money also tax! If no tax, how to pay salary? Quote Link to comment Share on other sites More sharing options...
Guest Guest Posted November 24, 2019 Report Share Posted November 24, 2019 5 hours ago, kidster said: Regardless of the amount. Lock up half of it to safeguard from yourself. Pass the key to your mother. I have seen how many people end up losing all the winnings because they don't know how to manage the fortune overnight. Maybe your mother will lose the money for you while you managed to retain your own portion...? 😆😆😆😆 Quote Link to comment Share on other sites More sharing options...
Guest Clarification Posted November 24, 2019 Report Share Posted November 24, 2019 On 11/22/2019 at 3:52 PM, lonelyglobe said: OMG, I tot is 7 individual get 97k and the 97k divided by 24 for the eighth share and 97k divide by 23 for the ninth share.... Win grp 2 and get $388, WTF... The 97k is already the "shared" amount. So for the normal ticket, each winner get 97k. As for the iToto ticket, it is 97k divided by 28 (not 23), regardless of how many iToto tickets were sold for that set of iToto numbers. This is because the price you paid is equivalent to system 12 price divided by 28. Hence, correspondingly, your winning is divided by 28. This concept is the same as 4D iBet. Quote Link to comment Share on other sites More sharing options...
Guest FREAK draw Posted November 24, 2019 Report Share Posted November 24, 2019 On 11/22/2019 at 10:31 PM, Guest Punter said: That was what I thought so. This is so unfair to Group 2 winner, they were so close and the money accumulated should be high, in correspond to Group 1 price. For decades, I thought the share amount should be the actual amount received by each winners. I think when Group 1 hit 10,0000,000 and there were 10 winners, SP will show the share amount as SGD1,000,000 (for each winner). As in the case above, each winner should get 97K for Group 2. Anyone can share the light? If you follow Toto for a long time you will remember on1st Mar 2012 draw, there was a freak draw of 196 Group 2 winners! After dividing the group 2 prize amount by 196, each group 2 winner only got $2,018...imagine the disappointment of those punters who struck group 2, only to realise later it is only $2k plus winnings. Quote Link to comment Share on other sites More sharing options...
benedict5856 Posted November 25, 2019 Report Share Posted November 25, 2019 On 11/22/2019 at 9:18 AM, lonelyglobe said: Thanks for clarification...not so fantastic win, unless they are the winner of grp 1, then still can get a few hundred thousands... The chance of striking through quick pick is 1 out of 13,983,816. The same set of number will not happen twice, unless there is more than 13,983,816 tickets being purchased. Next is system 7 quick pick, the chance is 43 out of 13,983,816 of hitting 6 correct numbers. And u called this not fantastic win?!?! Its not about the money. Can strike, is already super damn lucky liao. Quote Link to comment Share on other sites More sharing options...
Guest Occulust Posted November 25, 2019 Report Share Posted November 25, 2019 Becareful on how you use the winning. Even though u are not required to declare it as it is not an income, however it will become an asset if you purchased a property with it. If you are a business owner and shud you be sued for bankruptcy, that property will then be required to be surrendered. Quote Link to comment Share on other sites More sharing options...
Guest Justin Posted August 6, 2021 Report Share Posted August 6, 2021 If won 10k, should declare and pay tax? Quote Link to comment Share on other sites More sharing options...
Guest Pohntip Posted April 6, 2022 Report Share Posted April 6, 2022 On 11/18/2019 at 6:47 AM, Guest Guest said: I'm very fortunate that I won Toto early this year. I just want to know how will I declare it in my income tax. Wow. I hope me too Quote Link to comment Share on other sites More sharing options...
Guest Guest Posted February 6, 2023 Report Share Posted February 6, 2023 Got lucky last friday draw. Now i'm worrying how to declare tax. Any idea? Quote Link to comment Share on other sites More sharing options...
Guest BLUFF Posted February 7, 2023 Report Share Posted February 7, 2023 On 11/18/2019 at 6:47 AM, Guest Guest said: I'm very fortunate that I won Toto early this year. I just want to know how will I declare it in my income tax. Dont bluff lah u didnt If you did you would have known. Also when you collect your prize they would have advised you Quote Link to comment Share on other sites More sharing options...
Guest Tax on Windfall Posted February 7, 2023 Report Share Posted February 7, 2023 5 hours ago, Guest Guest said: Got lucky last friday draw. Now i'm worrying how to declare tax. Any idea? Want to engage me for a consultation fee (10% of your winning) to help you avoid paying tax on your windfall? Quote Link to comment Share on other sites More sharing options...
Guest Guest Posted February 7, 2023 Report Share Posted February 7, 2023 If u bring yr winning money to the bank they will invite u for free coffee and snacks at the VIP lounge and 3officer will brain wash u to invest in stock market . Quote Link to comment Share on other sites More sharing options...
lonelyglobe Posted February 7, 2023 Report Share Posted February 7, 2023 6 hours ago, Guest Guest said: Got lucky last friday draw. Now i'm worrying how to declare tax. Any idea? Dont need, just collect your $10 winning and go and buy a decent lunch like chicken rice + drink, enjoy 😀 yhtang 1 Quote Link to comment Share on other sites More sharing options...
yhtang Posted February 8, 2023 Report Share Posted February 8, 2023 On 11/18/2019 at 6:54 AM, HendryTan said: https://www.iras.gov.sg/IRASHome/Individuals/Locals/Working-Out-Your-Taxes/What-is-Taxable-What-is-Not/Winnings--Toto--4D--etc--/ Winnings (Toto, 4D, etc.) Winnings from betting such as 4D, Toto, football, Singapore Sweep, horse racing, fruit machine (jackpot) and casino winnings, etc. in Singapore are not taxable as they are windfalls and not considered as an income. Reporting Winnings You do not need to declare winnings since they are not taxable. I believe this comment from 2019 still holds true. I am not aware of any changes since then. Quote Link to comment Share on other sites More sharing options...
Ryuki Posted February 18, 2023 Report Share Posted February 18, 2023 Non taxable Quote Link to comment Share on other sites More sharing options...
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