A Guide To The Taxation On Gambling Winnings In Canada
A Guide To The Taxation On Gambling Winnings In Canada
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Canada doesn't tax lottery winnings because they treat the sale of lottery tickets as an “advance tax” Only about 50% of the money collected in
Net lottery winnings are the total amount of winnings that remain after subtracting the cost of the lottery ticket The exact amount of tax Because lottery winnings are not taxable, lottery tickets are not tax deductible Lottery winnings are considered a windfall and not taxable in Canada For
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