A self-proclaimed tax guru has offered advice to Australians on what to do if they win Powerball’s record-breaking $200 million jackpot tomorrow.
With no division one winner in the past six weeks, Powerball’s draw 1446 on Thursday night has become the largest lottery prize in Australian history.
The tax guru, Kiki, has shared her tips for potential division one winners in a video posted on social media.
Kiki explained that the $200 million jackpot is tax-free in Australia.
Aussie tax guru Kiki has shared her tips for the potential division one winner
She advised the winner not to go to work, stating: ‘If you have a job or if you have university or school or if you have any sort of commitment, just cancel.’
‘Do not go anywhere because, let’s be honest, you don’t want to be there.’
Additionally, Kiki suggested that the winner should only inform one person, whether it’s a roommate, partner, or parent, to allow them to celebrate the excitement privately and have space to think.
She said the winner should quit their job without revealing the reason behind their decision, especially if it’s a routine nine-to-five job they don’t enjoy.
‘Let’s be honest… if you have $200million, you probably don’t have to be doing what you are doing right now unless you are saving lives,’ she said.
‘Just say that you are reassessing your next steps and see if you can negotiate your notice period.
‘You really want to shorten your presence at work; you just want to wrap it up and close that chapter of your life. ‘
Kiki discouraged winners from making drastic moves, such as paying off mortgages, and instead advised booking a first-class ticket to Italy.
‘Don’t do business, don’t do economy, don’t be a peasant, just book that first class,’ she said.
Kiki said the winner should only tell one person, quit their job and buy a first class ticket to Italy for a ‘thinking holiday’ where they should thoroughly consider the ways in which to spend the money
She emphasised the importance of not indulging in shopping for expensive items during the trip, considering it a ‘thinking holiday’ on what to do with the money.
Kiki recommended dedicating each day to contemplating and jotting down thoughts about what to do with one specific aspect of their newfound wealth.
‘If you want to help your parents out, you just dedicate a whole day, and you really think it through,’ she said.
‘Okay, you pay off their house; what next? You have all this money. Are you going to set them up a trust fund? Are you going to take them on holiday? Are you going to buy them a holiday house?
‘It’s really important that if there are five things in your life that you really want to fix or you want to put your attention to as a result of winning this money, that you dedicate a whole day to that one thing, so you’re not overwhelmed.’
With no division one winners from the past six weeks, Powerball’s draw 1446 on Thursday night has piled up to a whopping $200million – the biggest lottery prize in Australian history
Once the initial planning is complete, Kiki encouraged the winner to think about their personal goals and how to use the money wisely, whether it’s starting a business, creating a property portfolio, or pursuing other aspirations.
The tax guru said the winner needs to think about financial decisions as if they were ‘poor’ and not use the money as an instant fix.
‘It’s essential that you have that mindset of being poor when you’re thinking about your future,’ she said.
Kiki ended the video claiming: ‘the most important thing is to do all your thinking in your peasant clothes’.
You can buy tickets for the $200 million Powerball draw 1446 from any licensed lottery outlet, thelott.com online, or The Lott mobile app. The deadline for purchasing tickets for the Powerball draw is 7:30 pm AEST on Thursday.