asked the Minister for Finance whether the Revenue Commissioners regard as income for income taxation purposes in any year a prize in a football pool, raffle or other like event won by a person in that particular year.
Ceisteanna—Questions. Oral Answers. - Football Pool and Raffle Prizes: Liability to Income Tax.
10.
Mr. Ryan
I am advised by the Revenue Commissioners that they would not normally regard a prize of the kind mentioned by the Deputy as income for Income Tax purposes.
What does the word "normally" mean in that context?
I think in certain cases it might be taken for income tax but they are not likely to arise.
Could the Minister indicate what are the certain cases?
If a man said that his sole business was betting and if he won such a prize they would have to take it into account and tax him accordingly. They would have to cover his losses as well as his gains.