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Eastern Time (GMT-5:00) | An American Playing Various Canadian Lottery GamesNew Member
Charlotte, NC United States Member #127032 April 21, 2012 5 Posts Offline | | Posted: April 21, 2012, 8:03 pm - IP Logged | |
Hello to all! Just registered and tendered my first posting. Been reading the board for about 5+ years.
I travel the 48 states and most Canadian provinces on business. As an avid lottery player, I also purchase Canadian lottery tickets on a regular basis whenever I'm north of the border. I'm always winning small stuff, just like in the states. If I know I won't travel to Canada for an extended period and possess winning tickets I will mail them in (with the exception of Ontario) and the various provincial games will mail a check back to me. Ontario states the return mail address must be in Canada so I must present these in person.
My question:
If I were to win a large Canadian jackpot prize what is the best way to collect it?
Some have told me I must be a Canadian citizen while most just plain don't know. Playing LottoMax, BC649 and BC49 this week.
Best Regards to everyone! | | |
British Columbia Canada Member #116120 September 4, 2011 2533 Posts Offline | | Posted: April 21, 2012, 10:21 pm - IP Logged | |
you don't have to be a Canadian citizen to claim a Canadian jackpot  in person is prolly the best way to claim a Canadian jackpot "You have to be in it to win it!" | | |
Minnesnowta United States Member #125228 March 27, 2012 79 Posts Offline | | Posted: April 21, 2012, 10:25 pm - IP Logged | |
Isn't it all tax free there too? | | |
British Columbia Canada Member #116120 September 4, 2011 2533 Posts Offline | | Posted: April 21, 2012, 10:28 pm - IP Logged | |
Isn't it all tax free there too? yeppers "You have to be in it to win it!" | | |
Zeta Reticuli Star System United States Member #30849 January 17, 2006 8068 Posts Online | | Posted: April 22, 2012, 12:14 am - IP Logged | |
yeppers Don't think it is for Americans, LottoGuyBC, from homepokergames.com: Do I have to pay taxes on a lottery prize from another country?
Yes, US citizens are subject to taxation on income they make which comes from anywhere in the world, including gambling wins.
Is it true that Canadian citizens don't pay taxes on lottery wins?
If a Canadian wins the Canadian lottery, the funds are given to the winner in cash, with no tax liabilities ever.All lottery payments are in cash, with no deductions. These winnings are not taxable in Canada if you win on this lottery. There is no further liability for any amount, and you actually get 100% of the prize amount that is forecast.
So if I won the Canadian lottery would I have to pay taxes to the US government?
Yes, as the above rule states. If a US citizen wins the Canadian lottery, they would also be given the winning amount all at once, without any tax liability in Canada. But the US tax code requires you to list this win on your US income tax form, and to pay taxes on it. And this (found on yahoo answers): From the OLG site:18. How do I claim winnings if I am a resident of the United States?OLG 's lottery games are designed to be enjoyed by adult residents of Ontario. Occasionally, residents from other jurisdictions play and win OLG's lottery games, and OLG treats everyone fairly. The same claiming procedures described in the "How do I claim a prize?" answer above apply, subject to any U.S. postal regulations. OLG cannot mail cheques into the U.S. In cases where U.S. winners are required to receive a cheque for their winnings, they must pick up their cheque in person at the OLG Prize Centre in Toronto. More information about claiming prizes is available by calling the OLG Customer Excellence Centre at 1-800-387-0098.19. What tax implications are there for lottery winners?Generally, Canadian tax authorities do not consider lottery winnings to be taxable for Canadian tax purposes. However, U.S. residents playing OLG lotteries should note that the Internal Revenue Service (IRS) does consider such winnings to be subject to U.S. tax. While OLG will not withhold the U.S. tax against Canadian winnings, U.S. residents must report such profits on their individual tax returns. For more information, U.S. residents should contact their local IRS office.http://www.olg.ca/lotteries/faq.jsp#18 Those who run the lotteries love it when players look for consistency in something that's designed not to have any. One thing all the Law of Attraction books have done is help to sell a lot of lottery tickets! | | |
Oklahoma United States Member #82920 November 12, 2009 3628 Posts Offline | | Posted: April 22, 2012, 4:05 am - IP Logged | |
Welccome to the LP Garfield....... Win BIG everyone..... I Love Pink & Green....1908 | | |
British Columbia Canada Member #116120 September 4, 2011 2533 Posts Offline | | Posted: April 22, 2012, 4:55 am - IP Logged | |
Don't think it is for Americans, LottoGuyBC, from homepokergames.com: Do I have to pay taxes on a lottery prize from another country?
Yes, US citizens are subject to taxation on income they make which comes from anywhere in the world, including gambling wins.
Is it true that Canadian citizens don't pay taxes on lottery wins?
If a Canadian wins the Canadian lottery, the funds are given to the winner in cash, with no tax liabilities ever.All lottery payments are in cash, with no deductions. These winnings are not taxable in Canada if you win on this lottery. There is no further liability for any amount, and you actually get 100% of the prize amount that is forecast.
So if I won the Canadian lottery would I have to pay taxes to the US government?
Yes, as the above rule states. If a US citizen wins the Canadian lottery, they would also be given the winning amount all at once, without any tax liability in Canada. But the US tax code requires you to list this win on your US income tax form, and to pay taxes on it. And this (found on yahoo answers): From the OLG site:18. How do I claim winnings if I am a resident of the United States?OLG 's lottery games are designed to be enjoyed by adult residents of Ontario. Occasionally, residents from other jurisdictions play and win OLG's lottery games, and OLG treats everyone fairly. The same claiming procedures described in the "How do I claim a prize?" answer above apply, subject to any U.S. postal regulations. OLG cannot mail cheques into the U.S. In cases where U.S. winners are required to receive a cheque for their winnings, they must pick up their cheque in person at the OLG Prize Centre in Toronto. More information about claiming prizes is available by calling the OLG Customer Excellence Centre at 1-800-387-0098.19. What tax implications are there for lottery winners?Generally, Canadian tax authorities do not consider lottery winnings to be taxable for Canadian tax purposes. However, U.S. residents playing OLG lotteries should note that the Internal Revenue Service (IRS) does consider such winnings to be subject to U.S. tax. While OLG will not withhold the U.S. tax against Canadian winnings, U.S. residents must report such profits on their individual tax returns. For more information, U.S. residents should contact their local IRS office.http://www.olg.ca/lotteries/faq.jsp#18 If a US citizen wins the Canadian lottery, they would also be given the winning amount all at once, without any tax liability in Canada. But the US tax code requires you to list this win on your US income tax form, and to pay taxes on it. well that sucks  "You have to be in it to win it!" | | |
New Member
Charlotte, NC United States Member #127032 April 21, 2012 5 Posts Offline | | Posted: April 22, 2012, 7:01 am - IP Logged | |
Thanks for the welcome and the many responses - all good to know! | | |
NASHVILLE, TENN United States Member #33768 February 20, 2006 933 Posts Offline | | Posted: April 23, 2012, 8:24 pm - IP Logged | |
If a US citizen wins the Canadian lottery, they would also be given the winning amount all at once, without any tax liability in Canada. But the US tax code requires you to list this win on your US income tax form, and to pay taxes on it. well that sucks Corporations do not pay U.S. taxes on money they keep overseas. When a company brings that profit into this country, they are required to pay taxes. I wonder if the same rules apply to an American winning the Canadian lotto and keeping the money deposited in Canada? I would think so. But I could be wrong. According to my wife I am always wrong. In fact, if a tree falls in the forest and no man is around to hear the tree fall, is he still wrong? Yep! | | |
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