No April Fools’ joke: You could win the R87m Powerball Plus jackpot tonight

It’s a new month and it’s Phanda-Pusha-Play-time again. You could be the lucky winner of tonight’s R87 million Powerball Plus Jackpot.

Ithuba said it’s no April Fools’ joke, the jackpot is real and it’s estimated at R87 million:

“We don’t joke, but we do encourage you to play the PowerBall Plus jackpot.”

Powerball Plus jackpot, 1 April

Making more millionaires

The draw takes place tonight at 9pm and tickets can be purchased from any National Lottery retailer.

Alternatively, get your (hopefully winning) ticket from the Absa, Standard Bank, Nedbank and FNB banking apps or daily *120*7529# for the USSD.

Ithuba CEO Charmaine Mabuza said they are looking forward to making many more multi-millionaires in 2022, and to build on the previous winnings:

“We are pleased with the number of multi-millionaires we have had since January this year, and we can only hope that more people get to celebrate as millionaires this year,” said Mabuza.

ALSO READ: Powerball and Lotto Jackpot: Beware of ‘fraudulent notifications’

If you win, Sars will come for you

While Ithuba Holdings proudly declares that Lotto winnings are tax-free, some loopholes allow the taxman to collect his cut.

Two experts from Tax Consulting South Africa, Head of Tax Legal, Darren Britz and Legal Manager: Tax Controversy and Dispute Resolution Andre Daniels share some insight into how your winnings will be taxed.

It’s natural to want to upgrade your life after bagging a multi-million jackpot. At the top of everyone’s list is a new home and vehicles.

While spending the money on its own may not be a tax event, you do have to declare these substantial purchases to the revenue services in your tax return. Britz and Daniels explain.

ALSO READ: Sars wants your lotto winnings, here’s how they will get their cut

Additional reporting by Narissa Subramoney