Quote:
Originally posted by fredr123+Mar 4 2005, 09:50 AM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (fredr123 @ Mar 4 2005, 09:50 AM)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-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. [/b][/quote]
I could be wrong, but I thought Canadian lotteries paid out right away. I'm not 100% sure why I think that though.
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