Tax Advice for New Lottery Home Winners
Tax Advice for New Lottery Home Winners
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In Canada, lottery winnings are not considered regular income, so they are not taxed like your job's salary would be Instead, they're seen as a windfall or a
Canadian lottery winnings aren't taxable Whether you win $20 or $2 million — or even $20 million — you get to keep every last cent The logic applied in Canada Income from winning from lotteries, crossword puzzles, etc , is taxed at a specified tax rate You can also claim deductions for expenses that
lottery result 18 12 23 In Canada, lottery winnings are tax-free, but in the , every significant lottery jackpot won by a Canadian or resident is subject to a 30% If you don't play professionally, the answer is easy: You don't owe any taxes on your poker winnings Lottery and gambling windfalls are not