Taxes on Prize Winnings and More!

Personal income tax applies to all income sources of residents of Canada; except for such amounts as gifts, inheritances, lottery winnings, and veterans

Since gambling and lottery winnings are not taxable in Canada, you may be entitled to a refund of the amounts withheld Gambling Losses

canada immigration lottery Determine if your gambling winnings are exempt from federal income tax and if you're eligible to claim a refund of withheld taxes

canada lottery ticket price You'll include the amount of your winnings when you file your tax return for the year rather than at the casino when you claim them Make sure to keep good