The secret booklet Australian Lotto winners receive could be revealed for the first time.
The booklet is part of a package that also includes a formal prize confirmation letter addressed to the winner and a giant novelty check with any name you wish.
Anyone who wins a first prize or division one prize of $100,000 will receive the booklet.
To toast their brand new lives, the winners will also receive a bottle of Australian sparkling wine – Brut Non Vintage or a bottle of non-alcoholic Polka sparkling wine.
The booklet contains ‘information to help point you in the right direction so you can make the most of your happiness’.
The secret book contains advice for lotto winners in Australia
There is the gentle warning that ‘while lottery wins are indescribably exciting, they may seem a bit overwhelming at first’.
‘Keep in mind that you don’t have to make hasty decisions and that professional help is always available.’
Scattered throughout the booklet are useful ‘winning insights’ from previous gamblers who have won a big prize.
One of these revealing stories comes from a Division 1 winner from South Australia.
They say in the book: ‘I thought: I’m not going to keep it a secret, I’m going to tell everyone, because I don’t want people to say: why didn’t you tell me? Nobody asked me anything. Not one person. I find that really refreshing.’
On the benefits of financial advice, one NSW Division 1 winner wrote: ‘I’m still working, and I’m still budgeting and all that. Not much has changed. I did get some financial advice, and that was probably the most valuable thing I’ve ever done.”
Read the full winners booklet below:
What should I do now?
You don’t have to make a decision right away. You have as much time as you want to think about what you really want to do with your prize and what the best options are for you.
Whatever you plan to do with your prize, we hope it makes a real difference to you and your loved ones.
A time for decisions
To get started, we recommend that you discuss with your financial institution the best account to transfer your winnings to. Then make sure you get professional advice on the best options for you and your price.
Remember that for many people work means more than just their livelihood. It can also mean friendships, job satisfaction and a sense of belonging. So you may want to wait to make any decisions about your pension until you have received professional advice and become comfortable with your price.
Who should I tell?
Some winners can’t wait to share their life-changing news with their loved ones. Others choose not to tell anyone. It’s completely up to you.
Take a moment to think about who you might share your news with and when you might tell them.
Sharing your prize
For many winners, part of the joy of winning a big lottery prize is being able to share it with their closest family and friends.
If you are interested in giving to others, we encourage you and anyone you share your prize with to seek advice from a qualified financial planner or bank representative.
Speaking to a professional can give you peace of mind and ensure that you and the people you choose continue to benefit from the award for years to come.
Taxes and other considerations
Did you know that lottery prizes are tax-free in Australia?
You can also give away as much as you want once, without the recipient having to pay tax on it.
However, once your prize is in a bank account, the interest you earn on your prize is subject to income tax for both you and the gift recipients. There may also be tax consequences for any investments you make.
Time to plan: make the most of your price
One way to ensure your price reaches your goals is to make a plan.
Start by listing the things you want your prize to achieve, indicate how much each could cost, and rank them based on their importance to you. Your list might include things like:
• Pay off the mortgage
• Go on vacation
• Share money with family
• Buy new furniture
• Buy a new car
• Contribute to the education of yourself or your children
• Donate to charities
• Enjoy an extra regular income
• Retire or work part-time
• Buy a new house
• Make an investment
• Create a lasting legacy
Call in the professionals
While family and friends are valuable sources of life advice, many professionals specialize in providing financial and legal advice.
Whatever you plan to do with your winnings, it is always wise to seek advice from licensed and independent professionals, such as accountants, lawyers or financial planners.
Frequently Asked Questions
The questions and answers include:
Question: Can I keep the original ticket?
A: Unfortunately, due to our prize payment process and lottery rules, you cannot keep the original ticket. We recommend that you take a photo of the ticket before providing it to us
Question: Do I need to inform my bank of this?
A: While it is not absolutely necessary that you notify your bank, we do recommend that you speak to a bank manager to let them know that you are expecting a large deposit.
The winner’s booklet concludes with these inspiring words: ‘Enjoy the winner’s journey! Above all, we hope that your award will bring you not only a financially secure lifestyle, but also much happiness and joy for years to come.”