Quote:
Originally posted by the_only_turek_fan@Mar 4 2005, 08:41 AM
Well assuming that you are Canadian and living in Canada you dont have to pay any taxes IIRC on anything that you win.
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Yah, according to my Tax friend you don't get taxed on windfall gains. However, you would get dinged if you're living off the interest generated by the winnings.
BBS: Really? I thought pretty much every lottery gave you the option of taking the lump sum or getting paid out the present value of your winnings X years from now.