Do Canadian Lottery Winnings Get Taxed
In Canada, lottery winnings are generally not taxed at the federal or provincial level. This means if you win a prize from a legal lottery in Canada, you get to keep the full amount without any deductions for income tax.This tax-free status applies to winnings from various lotteries such as Lotto 6/49, Lotto Max, and other provincial lotteries. However, there are some exceptions and considerations to keep in mind regarding investment income generated from lottery winnings.
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