Where and how to collect the prize
Posted: Mon Dec 23, 2024 4:09 am
A deeply rooted Christmas tradition in our country is to give and share lottery tickets with our family, friends or coworkers. But this can lead to unpleasant situations, especially if the shared ticket turns out to be a winner, so it is good to take a series of precautions.
Share lottery
A lottery ticket is a bearer document, meaning that the prize is received by whoever has it in their possession, even if they are not the person who acquired it directly.
Tips:
Photocopy the ticket, give each participant a signed copy with the ID special trade contractors email list of the depositor and indicate the amount they are playing.
If we cannot physically do the above, we can send a photograph of the ticket by email or any messaging application (for example, WhatsApp), leaving a record of the details of the depositor, who is participating and the amount played by each of them.
«If you are going to share lottery tickets, put it in writing.»
Collecting a shared prize is simple but a series of requirements must be taken into account:
Each winner and their percentage of participation must be identified at the bank. The bank can then pay the entire prize, after deducting 20% tax , into the account of the person who holds an account at that bank and then divide it up as agreed with the rest.
Recommendation : do not collect the prize without identifying the rest of the participants, since when distributing it, the Treasury may interpret it as a donation and this requires paying the Donation Tax.
If the prize is less than 2,500 euros, it is exempt from taxes and can be collected at any Lottery sales point.
The prize is not declared in the personal income tax , but the income it generates is.
Is this a joint or separate property?
If a married couple plays a lottery ticket and only one member of the couple collects the prize, are we dealing with a joint or separate property?
If the marriage has a community property regime, 50% is shared between each one. But if we are dealing with a separation of property regime, the prize goes to whoever bought it unless it is proven that it was bought jointly.
Share lottery
A lottery ticket is a bearer document, meaning that the prize is received by whoever has it in their possession, even if they are not the person who acquired it directly.
Tips:
Photocopy the ticket, give each participant a signed copy with the ID special trade contractors email list of the depositor and indicate the amount they are playing.
If we cannot physically do the above, we can send a photograph of the ticket by email or any messaging application (for example, WhatsApp), leaving a record of the details of the depositor, who is participating and the amount played by each of them.
«If you are going to share lottery tickets, put it in writing.»
Collecting a shared prize is simple but a series of requirements must be taken into account:
Each winner and their percentage of participation must be identified at the bank. The bank can then pay the entire prize, after deducting 20% tax , into the account of the person who holds an account at that bank and then divide it up as agreed with the rest.
Recommendation : do not collect the prize without identifying the rest of the participants, since when distributing it, the Treasury may interpret it as a donation and this requires paying the Donation Tax.
If the prize is less than 2,500 euros, it is exempt from taxes and can be collected at any Lottery sales point.
The prize is not declared in the personal income tax , but the income it generates is.
Is this a joint or separate property?
If a married couple plays a lottery ticket and only one member of the couple collects the prize, are we dealing with a joint or separate property?
If the marriage has a community property regime, 50% is shared between each one. But if we are dealing with a separation of property regime, the prize goes to whoever bought it unless it is proven that it was bought jointly.