Some dude just won $590... crazy

[caboose56]

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We get taxed here, but it shows up when you file your taxes. In the US they take their cut before you even get any.

Here you can do some stuff with it or move it around to avoid some of the income tax.

 

[Chaos]

...

 

[Chaos]

I'm pretty sure you never get taxed here on your winnings -- now if you make money off those winnings (eg. interest, investments, stocks, etc) then you will pay tax on whatever you make, but not on the initial amount.

That's my understanding as well. I suppose it could also affect tax credit etc. But I've never paid enough attention to stuff like that since I have not been put in a situation to need to check.

 

[estone]

We get taxed here, but it shows up when you file your taxes. In the US they take their cut before you even get any.

Here you can do some stuff with it or move it around to avoid some of the income tax.

Nope.

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/rprtng-ncm/nttxd-eng.html

 

[Mr.Azim]

Canada doesn't have as massive jackpots, but we don't get taxed on it either.

 

[caboose56]

Nope.

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/rprtng-ncm/nttxd-eng.html

I learned something today!

 

[LiNK666]

I thought you only get taxed on your lottery winnings if you have no income during the current fiscal year as it would count as your primary source of income??? If you had some income there would be no taxes

 

[Roomie]

you'd buy a 1994 Ford Probe?

You wouldn't?

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