Will be tax soon on our WINs!!!

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winkeldinkel

Member
Not Smart!

A few years ago the Ontario government got the same idea. There was such an outcry from the public that idea was quickly discarded! Even the lottery commission said that if winnings were taxed, sales would drop to a considerable degree. If Quebec people were taxed on their winnings, people would arrange to purchase their lottery tickets through other provinces like Ontario. Financially great for Ontario- but bad for Quebec!

:dang: :sick: :uzi: :eek:
 
S

system13

Member
Couple of years back, Croatian lottery was heavily taxing the winnings as well, but very soon they realised what a bad idea that was so now there's no tax. What you win,is what you get.

I think that this Quebec lottery plan will end in the same way. :agree:
 
D

Dennis Bassboss

Member
system13 said:
Couple of years back, Croatian lottery was heavily taxing the winnings as well, but very soon they realised what a bad idea that was so now there's no tax. What you win,is what you get.

I think that this Quebec lottery plan will end in the same way. :agree:
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I hope so...but you never know with the politicians around here :rolleyes: They are nuts...Jean Charest our Prime Minister here looks more like a used cars salesman than a prime Minister...
They are unpredictables people... :dang: :sick:
 
I

Irvin

Member
Time to pull out your protest signs again Dennis.

"No more bonus draws" on one side and "No tax" on the other.

If we look at how much people spend on lotto and how much is handed out in prizes after all the tax I would not be suprised if total winnings across all divisions compared to total spend is less than 40%.

Just a loud thought.
 
G

Godload

Member
Actually I think it was in ontario or bc where they wanted to tax the winnings of a professional proline player who had managed to win so much that he was able to retire off his winnings and was set for life. He took the lottery corporation to court and basically said if you wanna tax my winnings then make it possible for every person to write off their losses from every lottery game in Canada on their income tax. Government backed off on that right away.
 
Beaker

Beaker

Member
that person was able to exploit a flaw that originally was in proline, if I recall - results available before the draw.
 
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Rebeckah

Member
Hey, in America we already get 38% federal taxes removed before we even GET the check.... so I win $135 million in Megamillions, cash value is $67.5mil, minus 38% taxes of 25.7mil leaves me with
$41.8 million
& then I'd have to pay state taxes, if I live in a state that makes you file state forms & gratefully, Texas doesn't! :agree2: otherwise that'd be another 38% {15.8 mil} leaving me with a paldry 26 million.

Hey, I'll take it!!!!!
:lol:
 
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Dennis Bassboss

Member
Rebeckah said:
Hey, in America we already get 38% federal taxes removed before we even GET the check.... so I win $135 million in Megamillions, cash value is $67.5mil, minus 38% taxes of 25.7mil leaves me with
$41.8 million
& then I'd have to pay state taxes, if I live in a state that makes you file state forms & gratefully, Texas doesn't! :agree2: otherwise that'd be another 38% {15.8 mil} leaving me with a paldry 26 million.

Hey, I'll take it!!!!!
:lol:
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Well for you it is different ...you can always come to live in the greatest country in the world...Canada...And at the same times increase your total money with the currency change... :agree: :agree2:
 
Beaker

Beaker

Member
That's alot of tax. :eek:

If our jackpots were GIGANTIC like that I could see taxing them but we are only a small country with 12 million tickets sold per draw - across the country :dizzy:

Some cities in the U.S. do that per draw

No lotto tax for us :no: - besides we have a surplus here - gov't doesn't need the $$ - yet :worry:
 
P

peter

Member
Rebeckah said:
Hey, in America we already get 38% federal taxes removed before we even GET the check.... so I win $135 million in Megamillions, cash value is $67.5mil, minus 38% taxes of 25.7mil leaves me with
$41.8 million
& then I'd have to pay state taxes, if I live in a state that makes you file state forms & gratefully, Texas doesn't! :agree2: otherwise that'd be another 38% {15.8 mil} leaving me with a paldry 26 million.

Hey, I'll take it!!!!!
:lol:
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Thats a shame 26 mil out of 135 mil, tell me how that is not criminal!!!:dang:
 
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Rebeckah

Member
wow moving to Canada sounds very appealing. Don't you have govt funded health care for everyone? That's a good deal.

& Peter, it's not criminal cuz the $$ goes to the federal govt. As long as the feds get their cut they're happy.... 38% is the standard tax amount on any $ made over.... I think $80K.. ? not sure on exact amount it changes every year. There's a decreasing amount of tax on ranges of income under that... Sometimes they say it doesn't pay to be rich. But I'll choose being rich over not any day!
:lol:
 
G

gsobier

Member
Dennis:

You have lots of friends here in Ontario... ...not to worry mon ami:agree:. I put my HP LaserJet 6L printer in "Econo-Mode" and there is lots of toner to go around:lol:. We also don't want the human error factor to creep in:no: filling in play slips letting the :cow: slip away, do we:bawl::crap:. Printing them is the smartest thing to do:agree:.

Regards,
George:)
Dennis Bassboss said:
If they go ahead with it....I might buy mine in Ontario like Winkel is saying here....Are you listening George? :agree:
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