This happens when you win the lottery in Canada #Windfall

canada tax on lottery winnings   Dan canada parents lottery

As stated in Paragraph 40 of the Income Tax Act, Canadians do not have to pay taxes on gambling winnings This includes earnings from online casino

Lottery winnings must be claimed from the lottery jurisdiction that sold the ticket In General, Canadian tax authorities do not treat lottery, casino, bingo All lottery winnings are tax-free Are lottery winnings taxable? Lottery winnings are considered a windfall and not taxable in Canada For details regarding

lucky tropics slot Truth: Any lottery winnings that allow you to receive your winnings as a lump sum are tax-free Personal income tax applies to all income sources of residents of Canada; except for such amounts as gifts, inheritances, lottery winnings, and veterans