Inheritance or Lottery Winnings

canada tax on lottery winnings
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Such income is generally taxed at a flat rate of 30% Nonresident aliens generally cannot deduct gambling losses The only exception is Canadian

A: For residents and resident aliens, percent in federal and state withholding taxes is deducted for every Lottery prize over $5,000 Current federal tax

canada tax on lottery winnings tax has Canadians facing costly conundrums It will be only a matter of time before the LIBNDP brings in a new tax on Lottery winnings

canada lottery Income from winning from lotteries, crossword puzzles, etc , is taxed at a specified tax rate You can also claim deductions for expenses that