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  • Are lottery winnings in Canada taxable?

    ARE LOTTERY WINNINGS IN CANADA TAXABLE?

    In 2024, Canada is celebrating the 50th anniversary of its first national lottery. The so-called Olympic lottery took place in 1974, and it helped raise more than $230 million for the Montreal Olympics. It featured a $1 million tax-free jackpot prize that was the biggest lottery jackpot ever at the time.
    Today, Canada continues to provide lottery options to its residents. Those who win these lo

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