I am in charge of our work lotto syndicate. There are currently 11 of us. Everyone pays their fees into a bank account in my name specifically for this syndicate, and I use an account in my name in the lotteries app to purchase our tickets every fortnight.
If we win a major jackpot, I would have to 'gift' everyone's share of the winnings to them.
What are the tax implications, if any, for me as the gifter, and them as the giftees?
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