South African Gambling Tax

1. South African Gambling Tax Calculator
2. South African Gambling Tax Records
3. South African Gambling Tax Collectors

Looking to easily submit a SARS income tax return or find a SARS income tax calculator, then you’ve come to the right place. We love making our users lives easier and we have partnered for all income tax purposes with Tax Tim.

South African Gambling Tax Calculator

According to figure put together by the governing body of land-based operators, the Casinos Association of South Africa, in 2018 the gross gambling revenue for the country dropped by 2%, something the CASA believes can be firmly laid at the door of the illegal operators. South African gambling market. Casinos are by far the largest component of the gambling market with casino gross gambling revenues accounting for 72% of total gross gambling revenues in 2014, down. In the event that the gambling activity is carried out as a scheme, or done solely with the aim of registering some regular profit, you will no longer be able to consider it as capital and will be bound to pay tax on it to the South African government. This type of tax is applicable to the professional gamblers in the country.

Look’s like you earning a healthy some of money, did you know that online sports betting, lottery and horse racing betting is legal in South Africa, below is the list of the top 4 most trusted online sports betting sites, why not take a bet and see whether you can beat the odds. All winnings are tax free.

• An article that ran recently in MoneyWeb explained the issue of taxation on casino wins in South Africa. 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.
• South Africa’s gambling revenues are projected to rise to R30 billion in 2019, according to a new report. The South African gambling industry – including casinos, sports betting, the National Lottery, limited payout machines and bingo – achieved gross gambling revenue of R26.3bn in 2016.

South African Gambling Tax Records

South African Gambling Tax Collectors