How Tax Works
She's On The Money
00:00
How to Claim Taxes on Your Income
All the income you earn is taxable. You don't have to pay any tax on lottery-winning or other prizes. On things like small gifts and birthday presents, you don’t have to pay tax on the 50 bucks that you grandma gave you for Christmas. If you get made redundant in a role, you will accrue a lump sum payment to be paid out of it. But if you've worked there for 10 plus years, it could look really sexy. And then we only going to tax a certain portion of that which is just good to know. It's something that I do think we all should understand because it could happen.
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