Reddit Canada Weighs in on Lump Sum vs Monthly Lottery Payouts

are lottery winnings taxable in canada
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Following these guidelines, Canadian tax courts have typically agreed that unanticipated gains, gifts, inheritances, strike pay, and lottery winnings are not

In general, the government of Canada does not impose taxes on gifts Regardless of the amount, you may not declare any gift or inheritance on your income tax

are poker chips worth money You'll be glad to know that any prizes you win in a lottery are generally tax-free in Canada If you win something other than cash, such as a

are lottery winnings taxed However, if gambling winnings are received as part of business income or in the context of a business activity, then those winnings are taxable