Our updated and free online salary tax calculator incorporates the changes announced in the Budget Speech. View what your tax saving or liability will be in the 2018/2019 tax year. SARS Salary & Income Tax Calculator 2019 Sage South Africa. As of March 2019, South Africa's stock exchange was the 16th largest in the world and the largest in Africa by market capitalisation. Its currency is the rand (ZAR). South Africa has 11 official languages, including English, and three capitals: Pretoria (administrative), Bloemfontein (judicial), and Cape Town (legislative). A: Generally, lottery winnings would be considered capital in nature and would not be subject to normal tax in South Africa. However, you would need to declare it in your tax return within 'amounts considered not taxable'. I won a house in a competition, however I did not declare this on my tax return during that tax year. Players may be surprised to learn that in the vast majority of cases, South Africans do not have to pay tax on lottery, casino or competition winnings, allowing them to enjoy the total sum. The article looks at three scenarios: Winning R5 million in the National Lottery, winning R200,000 at the local casino and winning R100,000 in a competition. It is much the same in South Africa, home to the highest number of casinos on the African continent. South African citizens are free to enter a casino and wager as much as they like on a whole host of various casino games. However, they are forbidden from logging onto a computer or mobile device to play the exact same games.

1. Gambling Tax South Africa 2019 Public Holidays
2. Gambling Tax South Africa 2019 Online
3. Gambling Tax South Africa 2019 Schedule

We are reminded of the sugar tax that took effect on 1 April last year leaving a bitter taste in the mouths of industry. This tax was also introduced for philanthropic reasons due to the impact sugar has on chronic diseases such as diabetes and obesity.

In reality, producers of soft-drinks reduced their bottle sizes with no reduction in price to negate the effects on consumer spending. As a result, this tax exceeded revenue generation expectations, and there is little evidence to suggest that the tax had any progressive impact on public health.

Now with the impending implementation of a gambling levy – it begs the question, is this just another levy for our sins?

As far back as the 2011 Budget, Cabinet proposed a 15% withholding tax on winnings, which was later amended to a 1 percent levy on gross gambling revenue of the casino in 2012. There was no real traction since this announcement was made, however, the Minister has confirmed that the national gambling levy proposition with regards to the 1 percent levy is indeed still alive and well.

Gambling Tax South Africa 2019 Public Holidays

One wonders what will be done with the levy and where South Africans will see this money going. How successful will Government be in utilising these collections for gambling awareness and rehabilitation as proposed?

In addition, the practicality of the implementation of the levy should be considered. The levy will most definitely create an additional compliance and financial burden on the gambling industry.

Gambling Tax South Africa 2019 Online

It seems we will need to wait with bated breath for the release of the draft legislation due to be published for comment later this year.

Nicole Erlank & Mishka Fledermaus

Gambling Tax South Africa 2019 Schedule

Tax Consultants at Mazars