If you are a New Zealand resident and have played at a New Zealand online casino, then you may be wondering whether you have to pay taxes on your winnings. While you won’t pay any tax on your winnings if you’re a beginner poker player, if you’re a professional you will need to declare your earnings on your income tax return. This is because winnings from poker games are considered to be a form of primary income.
Although gambling is legal in New Zealand, you’ll want to keep track of your winnings to avoid paying taxes on them. NZ casino online don’t tax winnings, but professional poker players are required to report their winnings to the IRD. It is important to keep track of all online gambling transactions and use a monthly or quarterly tax schedule to pay taxes. You can also make sure that you report any losses you may have, too. New Zealand’s online gambling laws are more lenient than other jurisdictions.