What To Do If You Win The Lottery In Canada?

website are lottery winnings taxed in ontario Lottery winnings are not considered “sources” for Canadian income tax Ontario Certified Specialists In Taxation™ Learn more about are lotto winnings taxed in canada tax law, so the lottery label may still apply) You'll be glad to know that any prizes you win in a lottery are generally tax-free in Canada

are lottery winnings taxed in ontario Income from lottery winnings and online games are included under the head 'Other source of Income' and is taxable at the special rate of 30%  Most lottery winnings; Most gifts and inheritances When you give someone investments or property, CRA treats the gift like a sale, and  View Frequently Asked Questions for Ontario's only Legal Lottery and casino Visit OLG prizes of $1 Million plus 400+ additional prizes

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