Lotto profit How much gets the tax office
Lotto win: How much gets the tax office?
How much do I have to give away from my lotto millions if I win?
The large jackpots of the past weeks were all distributed. More than 26 million in Lotto 6 out of 49 have found a lucky winner. And last weekend also the mad jackpot was finally cracked with the lottery EuroJackpot.
90 million Euro is said to have been won by a single lottery player from the Czech Republic. He was the only person in all of Europe who had marked the correct 5 numbers and the corresponding 2 Euro numbers on his ticket. This is called optimal exploitation of the winning quota*.
But how much remains for the winners in the end of their lotto millions?
Cashes the tax office at the end strongly with? Just as with wages, salaries, rents, pensions and other income. The real profit that one has left to spend at the end can be decimated by 50 percent if the responsible tax official has struck.
In Germany, the legal situation is like this:
The tax office is not involved in the case of a lottery win.
One may keep the many beautiful Lotto millions first completely. Income from games of chance, including lotteries, cannot be allocated to any taxable type of income by the tax office. Therefore, the money remains untouched and moves completely to the account of the winner.
This applies both to winnings from German state lotteries and to income from racing and sports betting. Winnings from the European multi-country lottery EuroJackpot are also available to players registered in Germany, tax-free.
Later profits by the Lotto millions
However, the tax exemption applies only to the lottery prize as such. If you later receive interest on the lottery millions that you have parked in your account, for example, then these winnings are subject to the final withholding tax of currently 25 percent. The bank will calculate these due taxes completely automatically and pass them on to the responsible tax office.
At the current interest rate level, however, it could take a while before the flat rate tax hits. Unless you have won the 90 million euros. In that case, the 0.1 percent interest that many banks currently pay on current account balances, if they pay any interest at all, can also have an impact and lead to a tax liability.
For every 1 million euros won, 0.1 percent interest would yield 1 million euros.000 euros credited. Of this, 801 euros remained tax-free via the exemption order. The remainder would fall under the final withholding tax of 25 percent.
But let’s be honest. With 90 million euros, the 90 million euros would have been.000 euros in interest and the final withholding tax of 22% due on it.299.75 euros certainly doesn’t matter. One would have to do so already enough with it to spend the many beautiful money meaningfully and to make itself a beautiful life. Let the tax officials struggle with the dry figures.