Win big? Not so fast, says the taxman

is lottery taxed in canada
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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

Winnings from a Canadian lottery such as Lotto Max or 649 are considered to be windfalls, and windfalls are not subject to tax Even winnings

is the lottery considered gambling Are lottery prizes taxed? Generally speaking, lottery wins in Ontario are not taxed In the event an annuity or for life prize is won, arrangements are

is ace low or high in poker All lottery winnings are tax free Are lottery winnings taxable? Lottery winnings are considered a windfall and not taxable in Canada For details regarding