Australian Politics Forum - Lotto Winner Loses Access To Pension

Carl D

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Re: Lotto Winner Loses Access To Pension
Reply #75 - Dec 31^st, 2023 at 7:48am

MeisterEckhart wrote on Dec 31^st, 2023 at 7:36am:

What degree of naivete would be required to imagine that welfare agencies, tax agencies and police departments would not be interested in the activities of those hoarding large sums of cash?

Oh, I'm sure they are interested.

But, unless they have a search warrant to go to someone's house and tear it apart to look for hoarded cash (and they need to have a real good reason to do it) then there's really nothing they can do about it.

This is one of the reasons (possibly the main reason) why the government is trying to get rid of cash altogether or at the very least make high denomination notes invalid if they're not put into a bank within a certain amount of time.

Good luck trying to get away with something like that in Australia. I'm sure the government is aware of how many pensioners there are in Australia who use nothing but cash and what will happen to any government at the next election that tries to get rid of cash or make large banknotes invalid.

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MeisterEckhart

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Re: Lotto Winner Loses Access To Pension
Reply #76 - Dec 31^st, 2023 at 7:50am

greggerypeccary wrote on Dec 31^st, 2023 at 7:38am:

MeisterEckhart wrote on Dec 31^st, 2023 at 7:36am:

What degree of naivete would be required to imagine that welfare agencies, tax agencies and police departments would not be interested in the activities of those hoarding large sums of cash?

Which section on the form asks for cash to be declared?

Just give us the number.

The number these agencies would be focussed on, if they were focussed at all, is the cash amount.

If you ask around you'll find that, post someone's death or severe decline, individuals within these agencies can display a great degree of latitude where small sums of cash are concerned.

However, formally, it is the person who has legal control of the estate or a person's affairs who must take ultimate responsibility for declaring all of the estate's assets.

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AusGeoff

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Re: Lotto Winner Loses Access To Pension
Reply #77 - Dec 31^st, 2023 at 8:30am

In Australia, lottery winnings are generally considered
tax-free. This is because they are classified as windfall
gains, which are non-assessable by the Australian
Taxation Office.

Do you have to report lottery winnings to ATO?

Prizes may include cash, low-interest or interest-free
loans, holidays or cars. However, you don't need to
declare prizes won in ordinary lotteries such as
lotto draws and raffles.

For this reason, I can't see that this bloke's winnings
would affect his pension in any way, as they're not
defined as income or earnings—being non-taxable.

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MeisterEckhart Gold Member Offline Australian Politics Posts: 17122 Gender:	Re: Lotto Winner Loses Access To Pension Reply #78 - Dec 31^st, 2023 at 8:37am Nevermind Lotto, what happens when someone inherits, say, $250K where there is no tax liability? Does anyone believe that someone could still pull a pension when they're flush with 1/4 million?
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Bobby.

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Re: Lotto Winner Loses Access To Pension
Reply #79 - Dec 31^st, 2023 at 8:39am

AusGeoff wrote on Dec 31^st, 2023 at 8:30am:

In Australia, lottery winnings are generally considered
tax-free. This is because they are classified as windfall
gains, which are non-assessable by the Australian
Taxation Office.

Do you have to report lottery winnings to ATO?

Prizes may include cash, low-interest or interest-free
loans, holidays or cars. However, you don't need to
declare prizes won in ordinary lotteries such as
lotto draws and raffles.

For this reason, I can't see that this bloke's winnings
would affect his pension in any way, as they're not
defined as income or earnings—being non-taxable.

You're wrong -
I heard a story of a dole recipient in Melbourne who went to Crown Casino
and won an amount of about $5,000 on a poker machine and was give a cheque
as they wouldn't give him the cash.
He put it in his bank account and to make a long story short -
his dole was cut for many long months by Centrelink.
It would have been better if he had never won it.

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AusGeoff

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Re: Lotto Winner Loses Access To Pension
Reply #80 - Dec 31^st, 2023 at 8:49am

Bobby. wrote on Dec 31^st, 2023 at 8:39am:

AusGeoff wrote on Dec 31^st, 2023 at 8:30am:

In Australia, lottery winnings are generally considered
tax-free. This is because they are classified as windfall
gains, which are non-assessable by the Australian
Taxation Office.

Do you have to report lottery winnings to ATO?

Prizes may include cash, low-interest or interest-free
loans, holidays or cars. However, you don't need to
declare prizes won in ordinary lotteries such as
lotto draws and raffles.

For this reason, I can't see that this bloke's winnings
would affect his pension in any way, as they're not
defined as income or earnings—being non-taxable.

You're wrong -
I heard a story of a dole recipient in Melbourne who went to Crown Casino
and won an amount of about $5,000 on a poker machine and was give a cheque
as they wouldn't give him the cash.
He put it in his bank account and to make a long story short -
his dole was cut for many long months by Centrelink.
It would have been better if he had never won it.

No mate, I'm not wrong...

https://www.ato.gov.au/individuals-and-families/income-deductions-offsets-and-re...

And... your little story about the $5K winner is wrong
and only third-party hearsay—unless you'd like to post
a link confirming the story.

There is NO way a $5K win would take someone off
Centrelink unemployment benefits.

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greggerypeccary

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Re: Lotto Winner Loses Access To Pension
Reply #81 - Dec 31^st, 2023 at 8:51am

AusGeoff wrote on Dec 31^st, 2023 at 8:49am:

Bobby. wrote on Dec 31^st, 2023 at 8:39am:

AusGeoff wrote on Dec 31^st, 2023 at 8:30am:

In Australia, lottery winnings are generally considered
tax-free. This is because they are classified as windfall
gains, which are non-assessable by the Australian
Taxation Office.

Do you have to report lottery winnings to ATO?

Prizes may include cash, low-interest or interest-free
loans, holidays or cars. However, you don't need to
declare prizes won in ordinary lotteries such as
lotto draws and raffles.

For this reason, I can't see that this bloke's winnings
would affect his pension in any way, as they're not
defined as income or earnings—being non-taxable.

You're wrong -
I heard a story of a dole recipient in Melbourne who went to Crown Casino
and won an amount of about $5,000 on a poker machine and was give a cheque
as they wouldn't give him the cash.
He put it in his bank account and to make a long story short -
his dole was cut for many long months by Centrelink.
It would have been better if he had never won it.

No mate, I'm not wrong...

https://www.ato.gov.au/individuals-and-families/income-deductions-offsets-and-re...

And... your little story about the $5K winner is wrong
and only third-party hearsay—unless you'd like to post
a link confirming the story.

There is NO way a $5K win would take someone off
Centrelink unemployment benefits.

Correct.

That story might have been what was told to Bobby, but it's a bullshit story.

An urban myth perpetuated on talk-back radio shows.

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greggerypeccary

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Re: Lotto Winner Loses Access To Pension
Reply #82 - Dec 31^st, 2023 at 8:53am

MeisterEckhart wrote on Dec 31^st, 2023 at 7:50am:

greggerypeccary wrote on Dec 31^st, 2023 at 7:38am:

MeisterEckhart wrote on Dec 31^st, 2023 at 7:36am:

What degree of naivete would be required to imagine that welfare agencies, tax agencies and police departments would not be interested in the activities of those hoarding large sums of cash?

Which section on the form asks for cash to be declared?

Just give us the number.

The number these agencies would be focussed on, if they were focussed at all, is the cash amount.

Which section on the official Centrelink assets form, to be signed by the applicant, asks for cash to be declared?

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Bobby.

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Melbourne
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Re: Lotto Winner Loses Access To Pension
Reply #83 - Dec 31^st, 2023 at 8:55am

greggerypeccary wrote on Dec 31^st, 2023 at 8:51am:

AusGeoff wrote on Dec 31^st, 2023 at 8:49am:

Bobby. wrote on Dec 31^st, 2023 at 8:39am:

AusGeoff wrote on Dec 31^st, 2023 at 8:30am:

In Australia, lottery winnings are generally considered
tax-free. This is because they are classified as windfall
gains, which are non-assessable by the Australian
Taxation Office.

Do you have to report lottery winnings to ATO?

Prizes may include cash, low-interest or interest-free
loans, holidays or cars. However, you don't need to
declare prizes won in ordinary lotteries such as
lotto draws and raffles.

For this reason, I can't see that this bloke's winnings
would affect his pension in any way, as they're not
defined as income or earnings—being non-taxable.

You're wrong -
I heard a story of a dole recipient in Melbourne who went to Crown Casino
and won an amount of about $5,000 on a poker machine and was give a cheque
as they wouldn't give him the cash.
He put it in his bank account and to make a long story short -
his dole was cut for many long months by Centrelink.
It would have been better if he had never won it.

No mate, I'm not wrong...

https://www.ato.gov.au/individuals-and-families/income-deductions-offsets-and-re...

And... your little story about the $5K winner is wrong
and only third-party hearsay—unless you'd like to post
a link confirming the story.

There is NO way a $5K win would take someone off
Centrelink unemployment benefits.

Correct.

That story might have been what was told to Bobby, but it's a bullshit story.

An urban myth perpetuated on talk-back radio shows.

It's a well known true story.

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MeisterEckhart Gold Member Offline Australian Politics Posts: 17122 Gender:	Re: Lotto Winner Loses Access To Pension Reply #84 - Dec 31^st, 2023 at 8:56am AusGeoff wrote on Dec 31^st, 2023 at 8:49am: There is NO way a $5K win would take someone off Centrelink unemployment benefits. Yes way. All concerned agencies need is to suspect that the cash was laundered. They do not need proof 'beyond reasonable doubt'.
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greggerypeccary

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Re: Lotto Winner Loses Access To Pension
Reply #85 - Dec 31^st, 2023 at 8:56am

Bobby. wrote on Dec 31^st, 2023 at 8:55am:

greggerypeccary wrote on Dec 31^st, 2023 at 8:51am:

AusGeoff wrote on Dec 31^st, 2023 at 8:49am:

Bobby. wrote on Dec 31^st, 2023 at 8:39am:

AusGeoff wrote on Dec 31^st, 2023 at 8:30am:

In Australia, lottery winnings are generally considered
tax-free. This is because they are classified as windfall
gains, which are non-assessable by the Australian
Taxation Office.

Do you have to report lottery winnings to ATO?

Prizes may include cash, low-interest or interest-free
loans, holidays or cars. However, you don't need to
declare prizes won in ordinary lotteries such as
lotto draws and raffles.

For this reason, I can't see that this bloke's winnings
would affect his pension in any way, as they're not
defined as income or earnings—being non-taxable.

You're wrong -
I heard a story of a dole recipient in Melbourne who went to Crown Casino
and won an amount of about $5,000 on a poker machine and was give a cheque
as they wouldn't give him the cash.
He put it in his bank account and to make a long story short -
his dole was cut for many long months by Centrelink.
It would have been better if he had never won it.

No mate, I'm not wrong...

https://www.ato.gov.au/individuals-and-families/income-deductions-offsets-and-re...

And... your little story about the $5K winner is wrong
and only third-party hearsay—unless you'd like to post
a link confirming the story.

There is NO way a $5K win would take someone off
Centrelink unemployment benefits.

Correct.

That story might have been what was told to Bobby, but it's a bullshit story.

An urban myth perpetuated on talk-back radio shows.

It's a well known true story.

A talk-back radio urban myth.

Complete & utter bullshit.

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Bobby. Gold Member Offline Australian Politics Posts: 120792 Melbourne Gender:	Re: Lotto Winner Loses Access To Pension Reply #86 - Dec 31^st, 2023 at 8:58am Listen guys - I know for certain that people on the dole who were so short of money they started selling their own furniture and other stuff to try an get some money on eBay. When Centrelink saw the money in their bank account they had their dole cut for months. Centrelink is evil.
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MeisterEckhart Gold Member Offline Australian Politics Posts: 17122 Gender:	Re: Lotto Winner Loses Access To Pension Reply #87 - Dec 31^st, 2023 at 8:58am Bobby. wrote on Dec 31^st, 2023 at 8:55am: It's a well known true story. And, I'd bet a common story where the agency decides to treat the 'windfall' with suspicion.
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greggerypeccary

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Re: Lotto Winner Loses Access To Pension
Reply #88 - Dec 31^st, 2023 at 9:03am

Bobby. wrote on Dec 31^st, 2023 at 8:58am:

Listen guys -

I know for certain that people on the dole who were so short of money
they started selling their own furniture
and other stuff to try an get some money on eBay.
When Centrelink saw the money in their bank account
they had their dole cut for months.

Centrelink is evil.

I agree with you on the last bit.

The rest is bullshit.

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GOP = Guardians Of Paedophiles

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MeisterEckhart Gold Member Offline Australian Politics Posts: 17122 Gender:	Re: Lotto Winner Loses Access To Pension Reply #89 - Dec 31^st, 2023 at 9:04am Bobby. wrote on Dec 31^st, 2023 at 8:58am: Centrelink is evil. No. Centrelink employees are tasked with identifying fraudulent claims. They are predisposed to be suspicious of 'windfalls' in the same way insurance companies are with theft claims.
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