Tax free casinos

New Zealand tax free casinos

Since 1 January 2019, New Zealand has its own gambling regulation and an authority that can grant New Zealand gambling licenses, namely the gaming Inspectorate. One of the advantages for you of this is that if you play at a casino with a New Zealand gaming license, you never have to pay any tax on your winnings .

If you choose as a New Zealand player to play at a casino that is licensed by , the casino is thus completely tax-free for you and the winnings, and you don't have to pay 30% in profit tax . However, the casino itself has to pay taxes to The New Zealand state.

If you do not want to worry about paying tax on your casino winnings, you should always choose to play casino with a New Zealand license. On the website you can see which betting companies and which online casino games who has an active New Zealand gaming license. Online casinos with a New Zealand license must also have the s logo clearly visible on their website.

Advantages of New Zealand tax-free casinos:

• More money for you as a player
• Drop$steamy declaration
• Avoid problems with the Tax Office

How do you know if a casino is tax free?

To know if a casino is tax-free, you need to know where their license comes from . If the casino has a license in New Zealand from you can be sure that it is tax free,. All the casino with New Zealand license are exempt from tax by you who play if it should be the case that you win. If the casino has a license elsewhere, you need to be better aware of the tax rules.

Please read more at the New Zealand Tax Agency about when winnings from an online casino must be taxed or not or see further down in this article to learn more about tax-free winnings and how you can find new casinos . If you choose registration with any of the casino online from the leaderboards we have here on the casino top list, we can guarantee you that you always end up with a tax-free casino. This is because we only list tax-free casinos for our visitors where players avoid profit tax and may keep all profits.

How casino games work at casinos without tax

There are many New Zealand tax free casinos to choose from, and New Zealand casinos are always the safest option to choose to play casino at for New Zealand players. There is also always the possibility of a game break and that the casino protects responsible gambling.

At New Zealand casinos you get tax-free winnings paid to your bank account through secure payment methods. Among other things, you can use your New Zealand BankID at casino to get faster and safer payouts by choosing to play in casinos where registration is done via the electronic e-ID, also called Bank ID casino .

If you choose instead, for example, to register a gaming account with tax-free casinos with Swish, some of these casinos can also allow you to make both deposits and withdrawals with Swish. With these casinos with Swish withdrawals players can get tax-free winnings paid out immediately , without any longer waiting and without$Of om tax, along with very high security on all transactions .

Law for tax-free winnings for New Zealand players

Previously, online casinos licensed in other countries, such as Malta, could offer tax-free winnings to New Zealand players. It is no longer possible, but if a casino wants to target and offer games to New Zealand players, they must have a New Zealand gaming license issued by . This applies since January 1, 2019.

Casinos are not allowed to market themselves at all to New Zealand players. Casino without a gaming license that targets games to New Zealand players commits a violation of the law . They are allowed to accept New Zealand players who seek them out themselves, but the limit here is fine and casinos without a New Zealand gaming license must in no way try to attract New Zealand players.

"New Zealand gaming license$is used to count as tax-free casino”

A casino is considered to target New Zealand players if they have text on New Zealand on the website and if you can make transactions in New Zealand dollar. Never play in casinos without a license, as this can lead to increased risk and security flaws .

New Zealand tax-free casinos have high security and you can always be sure that you as a player do not miss anything in your declaration.

Tax-free winnings at casino without New Zealand gaming license

It is not necessarily that a casino without a New Zealand license means taxable profits, but there is actually the possibility of tax-free profits anyway. But it is your responsibility to check whether your winnings need to be taxed or not which is not always the easiest.

Poker games can be extra troublesome and it has happened several times that poker players at online casinos had to pay back large sums of money to the New Zealand tax agency, as it turned out that they chose to play without tax money. Usually because the players themselves do not understand that you are liable to declare poker winnings at casino without a license and/or that you withheld information to the New Zealand tax agency deliberately.

Under the New Zealand Gambling Act, all winnings from online gambling provided by a state outside the EEA must be taxed . This means that casinos with a license from a member state within the EEA also count as tax-free casinos.

It is common for online casinos to have a license from the Gaming Authority in Malta, and such a casino is thus a casino without profit tax for you as a New Zealand player.

Casino winnings that will be taxed

However, if you choose to play at an online casino that does not have a license from a member state within the EEA, you will not receive tax-free winnings. Examples of licenses that are common at online casinos located outside the EEA are Curacao, Isle of man, Belize and Barbuda.

Even casinos that are licensed in a member state within the EEA but that target New Zealand players without a New Zealand gaming license will be taxed. That is, if a casino with a license from Malta, but offering games in New Zealand dollar, it is a taxable casino.

Land-based casinos outside the EU

If you play in a land-based casino outside the EU or ESS, you as a New Zealand player are obliged to declare and pay tax on winnings made at the casinos that do not have a New Zealand gaming license.

Example: Would you as a New Zealand player go to Las Vegas or other major cities in the United States and if you win money, you won't win money without taxes. You must declare any poker winnings and / or other winnings from the casino games or betting games that you have made, and must tax your winnings in New Zealand to the tax office in your declaration.

Land-based casinos in the EU

Winnings made at EU/ESS casinos and which are allowed to target marketing to New Zealand players are tax-free casinos.

What does the New Zealand Tax Agency say about casino winnings?

At the New Zealand tax agency you will find clear information about which casino winnings are tax-free and which are not. There you can clearly read which profits are considered a taxable capital income and which are considered tax-free profits.

If you feel unsure about what applies, the New Zealand tax agency also has examples of what is a tax-free casino and when winnings need to be taxed. Here you have collected information about what applies to declaration and game winnings.

The tax agency says exactly what we have mentioned above, that if a casino is licensed in New Zealand, New Zealand players do not have to pay winnings tax .

If the casino is licensed in another member state of the EEA and does not target New Zealand players, you can still get tax-free winnings there. However, there is a high risk of ending up at a casino that is engaged in fraud and as a New Zealand player you do not have the same gaming protection as at The New Zealand casinos. Be sure to choose casinos with a New Zealand license to ensure that you play in a casino without tax .

Winnings at online casinos outside the EU will be taxed

If you choose an online casino that is not a casino without a profit tax for New Zealand players, it is you who is required to include the profit as a capital income in your declaration .

You are both obliged to keep track of the tax rules that apply and that you really declare your profits. Should you win money in a casino that is not a tax-free casino and does not declare for your casino winnings, this is an illegal act and a New Zealand crime .

Declare tax gains

It is the net profit that you are going to declare and you do it under the income of capital field that is on your declaration. You only need to do it if the net profit exceeds$100 onor. Net profit is taxed at 30 % .

For example, if you are going to declare poker winnings or made other winnings at the casino, you need to pay attention in your declaration that you enter the correct numbers so as not to risk being audited or committing tax offenses. The net profit is calculated by the difference between the stakes and winnings during one year of one and the same gaming operator . Thus, you cannot offset a win at one gaming operator with a loss at another.

If it turns out that you made a loss during the year, that is, you have lost more than you have made bets with, the loss is still not deductible.

If you feel insecure

If you are unsure whether a casino profit you have made during the year should be taxed or whether it comes from a tax-free casino, you should first contact the organizer, i.e. the gaming company .

If you still feel unsure, you should mention this under other information in your declaration. Then the New Zealand Tax Agency can investigate whether it should be taxed as a capital gain or not.

If you want to play at a tax-free casino without a license from New Zealand, you must therefore choose one with a license within the EEA instead. Note that it is the EEA that matters, not the EU. A casino from Switzerland would therefore not count as a tax-free casino because they are not part of the EEA, while a casino from Norway could be tax-free even though they are not part of the EU.

However, we want to give a finger of warning for this. Payouts of winnings at foreign casinos can create big problems . All foreign casinos are not pay ' N Play casinos or Casinocasino . For those who like to play with casino Swish or prefer instant payout casino , may encounter risks when conducting transactions at foreign casinos .

Our recommendation is to always choose to play at such safe tax-free casinos and choose safe games, something that you will only find at New Zealand casinos. As a player, you don't have to think about it. tax on casino winnings in your declaration. Play tax-free a casino without a license carries risks for you as a player .

Summary

The New Zealand gambling market and how the handling for tax can be experienced as $ anxious and difficult to understand. No one who has made winnings at the casino wants to be subsequently reviewed by the New Zealand Tax Agency or risk both committing tax crimes or being reimbursed for their gaming winnings made in their online casino.

Tips-so you avoid the tax at the casino

To be 100% sure that you will not be liable to pay tax in New Zealand on your casino winnings, there is an easy way to evade the tax at casino.
The tip is: choose an online casino with a New Zealand gaming license.
This way you can always ensure that you always end up at gambling sites without profit tax!

Avoid taxes at the casino:

• Choose casinos licensed in the EU

Sources

Skatteverket-about profit tax at casino