Quote:
Originally Posted by bizaro86
I mean, you always hear that but lottery winnings in Canada aren't taxable - so shouldn't your adjusted cost basis on the new house be its fair market value at the time you win it?
Edited to add: my uncle buys the biggest package on all those lotteries. They won an SUV once about 10-15 years ago but I wouldnt be surprised if they're still behind overall
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Yeah I do wonder about how CRA would view that, but I haven’t actually looked at it too closely because it’s never been a factor.