Wednesday, October 24, 2012

Lottery Wealth



Any amount below $5000, you can claim in cash at any Singapore Pools outlet.
Singapore pools will pay you in cheque for any winnings above $5000.

Singapore Pools: Claim Prizes - Claiming your Prize

When is the prize claim expiry date?
All Lottery and Sports Bets winning tickets should be claimed within 180 days from the date of the draw or event closure
(including weekends and public holidays).

Click here for prize claim expiry dates for Toto, 4D and Singapore Sweep draws.
 
Where to claim your prize?
Prize AmountWhere to Claim
Up to $5,000 per winning ticketCash payment at any Singapore Pools outlet during sales hours.
Above $5,000 per winning ticketCheque payment at Singapore Pools Main Branch located at
1 Selegie Road,
#01-01 PoMo,
Singapore 188306 

Monday to Friday, 8.00am to 4.30pm (excluding Public Holidays).

Please furnish a photo-identification document that is identical to your bank's record to facilitate the issuing of cheque.

All winnings are NOT taxable.

IRAS: Winnings (Toto, 4D...)

Winnings from betting such as 4D, toto, football, Singapore sweep, horse racing, fruit machine (jackpot) winnings and etc. in Singapore, are not taxable as they are windfalls and not of income nature.

How to report

You do not need to declare winnings since they are not taxable.

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