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Episode 183 | Are lotto winnings assessable income? Punters, listen up!!!

In this episode we chat about a story that hit the headlines recently regarding Centrelink assessing a person's lotto winnings as income. This person won lotto under a 'Set for Life' ticket and was then told by Centrelink that they regarded him as a professional gambler and that his winnings were not assessable income thereby reducing his Centrelink payments. Really? So I did some digging and came across a fantastic and significant taxaton ruling on this very point issued by the Commissioner of Taxation in 1991 which is still relevant today. Anyone who is a punter out there, should listen up.

https://www.youtube.com/watch?v=Fm9Loh6_sLo



The show was designed to give back to the community which Despina did in droves. Her weekly radio show was broadcast on the Gold Coast each Thursday on 104.1FM Gold Coast/Tweed & 103.5FM Northern Rivers and had a substantial following since 2020. Despina talked about various hot topics at local, state and federal level, and answered the questions that ordinary Australians want to hear. And the best part, it was free.

In 2024, due to programming changes within the radio station itself, Despina then moved her radio show to being solely online on her Youtube channel: Despina Priala

Each week she brings another insightful episode of Talking Law for her loyal listeners and the greater Australian community.

Knowledge is power and Talking Law is very much about empowering the ordinary Australian with information that they should be aware of to help them in every day life.

All episodes of Talking Law with Despina are uploaded on the Priala Legal website and onto our YouTube channel here: https://www.youtube.com/channel/UCWmG7z-wIbsHY9KhFfrrWwQ

If you have any question you would like answered please contact us and we will do our best to answer them for you.

DISCLAIMER: The information discussed within the Talking Law videos is general in nature only and is not intended to be comprehensive, nor does it constitute legal or other advice in anyway, and should not be relied upon as such. The information is intended only to provide a summary and general overview on matters of interest and it is not intended to be comprehensive. You should seek legal or other professional advice before acting or relying on any of the content herein.


Despina Priala

Posted By Despina Priala
Despina Priala has practised in property and commercial law on the Gold Coast for over 25 years and has extensive experience in this area.

Updated : 21st November 2022 | Words : 0 | Views : 226

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