How Does Income Tax Work in Canada

canada lottery tax
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You'll be glad to know that any prizes you win in a lottery are generally tax-free in Canada If you win something other than cash, such as

Canada uses a graduated, or progressive, tax system, which means that your annual income is taxed at progressively higher rates as it increases

canada poker In Canada, lottery winnings are not considered regular income, so they are not taxed like your job's salary would be Instead, they're seen as a windfall or a

canada dv lottery Like the other poster mentioned lottery winnings are not taxed in Canada If they were taxed as income, you'd be paying $400,000 + in taxes, not