Are lottery winnings taxable in Canada?

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Winning, receiving a share of a win or being gifted money has no tax implications on the initial amount and does not need to be reported to us

Share with immediate family members if you In Canada, most lottery winnings are tax-free, however the income generated from the winnings is taxable  If the amount of the award or the prize is more than INR 10,000, TDS would have to be deducted from the winnings before paying it to the winner

a片 百合 Unlike salary or professional income where people are allowed to take deductions or allowance, winnings from contests are fully taxable This is If you walk away with $500 million, it's going into some sort of investment account that will earn money All of those earnings are taxable ” 7