Reddit Canada Weighs in on Lump Sum vs Monthly Lottery Payouts

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

Reddit Canada Weighs in on Lump Sum vs Monthly Lottery Payouts Most lottery winnings; Most gifts and inheritances When you give someone investments or property, CRA treats the gift like a sale, and

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 lucky dips more likely to win Canadian lottery winnings aren't taxable Whether you win $20 or $2 million — or even $20 million — you get to keep every last cent Not so if

Finance Minister Peter Bethlenfalvy sent letters to several provincial Crown corporations, including the Ontario Lottery and Gaming Corp ,

are lottery annuity payments guaranteed prizes - including one humongous $50-million jackpot As everyone knows, lottery winnings are tax free Unless you're receiving disability

Good news: Lottery winnings are not taxable! Therefore, no federal or provincial taxes are payable on actual winnings However, revenue generated by this