With this economy everyone in the company will have to make sacrifices, so there will be across the board pay cuts effective 1 April.
However, as you know the lottery commission is one of our major clients, so due to a complex services for product deal, we now get a discount on various lottery products including regular lotto draws and scratch-off tickets.
In lieu of a pay cut, you can elect to take a 25% portion of your existing pay in this form.
Please forward your TPS report with your decision by COB or you will be automatically opted in to the pay cut.
Lottery products are randomly chosen based stock, demand levels and other precipitating factors determined by the seller. Odds of winning for any individual product are considered the same as any other wholesale purchaser.
You will need to seek your own financial and taxation advice as to the impact of any winnings.
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Copy of the original post in case of edits: With this economy everyone in the company will have to make sacrifices, so there will be across the board pay cuts effective 1 April.
However, as you know the lottery commission is one of our major clients, so due to a complex services for product deal, we now get a discount on various lottery products including regular lotto draws and scratch-off tickets.
In lieu of a pay cut, you can elect to take a 25% portion of your existing pay in this form.
Please forward your TPS report with your decision by COB or you will be automatically opted in to the pay cut.
Lottery products are randomly chosen based stock, demand levels and other precipitating factors determined by the seller. Odds of winning for any individual product are considered the same as any other wholesale purchaser.
You will need to seek your own financial and taxation advice as to the impact of any winnings.
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Are the scratch cards considered taxable income?
If not, this is the option
the ROI means the lotto would be a much larger paycut even before the tax situation was taken into account.
5%
Can I try the lottery option for a year then go to the 5% cut? If so, I will take my chances for a year
The rational thing to do is take the payout. Lottery tickets are designed for you to lose.
5% paycut is better than 25%. This is just simpel math, the roi of the lottery has to be 80% for it to be equally good options and i dont think any lottery has that high roi
I’m guessing the EV on the lottery tickets is bad enough that it’s worth taking the pay cut, but I would have to run numbers to know for sure and the prompt is structured in a way as to make that difficult.
I’d take the pay cut for the sake of simplicity and look for a new job.
Neither. Well, I guess the pay cut, but this is a sure sign that the company is fucked and it’s time to polish up the old resume.
Edit to add: I know this is hypothetical situations and all, but I’ve sucked up a pay cut a couple of times because I believed the companies when they said things would get better and we’d all be rewarded. Yes, I was an idiot. If a company is to the point that they have to start reducing salary by cuts or creative means, it’s generally a good sign the company is on its way out.
I’ll stick to what I have now and pick option two.
5%
The payout on most government run lotteries is like 50%. Maybe lower. It’s the worst form of gambling readily available.
In most tax systems, you’d get taxed on the face value of the tickets given to you and then have to also report winnings above that. There isn’t a tax loophole to, say, pay an employee entirely in casino chips.
Now if the original deal had a casino chip option where I am required to gamble every chip one time, I might take it and go play poker at a small casino somewhere far from Vegas. Or just find a single/double deck blackjack table.
Neither.