Taxes on Prize Winnings and More!

Taxable vs non-taxable windfalls · Lottery winnings · Gifts and inheritances · GSTHST credits · Income tax refunds · Canada Child Tax Benefits

Remember, you never have to pay to collect winnings from a legitimate lottery There are no other fees like duty, taxes, insurance, lawyers

canada lottery winners No According to paragraph 40 of the Income Tax Act, Canadians do not have to pay taxes on gambling winnings from the likes of horse racing,

canada lottery winner Determine if your gambling winnings are exempt from federal income tax and if you're eligible to claim a refund of withheld taxes