Billion Dollar Mega Millions Jackpot!!!

Cant lose if you dont play. I stopped buying tickets once they went over a dollar a ticket. Many, many years ago with Connecticut lotto.

If anyone reading this wins can you buy me a Stihl MS241? NIB of course! PLEASE?

 

Maybe there is a FF button somewhere?

 

Nope, but if you want any Husqvarna's, I will send a couple full Semis your way with enough cash in a bag to have huskihl port each and every one!

We will call this a Brand Loyalty Test!

Nw I have to remember to buy a ticket tomorrow

 

I’d have to guess the one’s causing it maybe for $500 Alex!

 

yooperdave I am no expert and don't quote me on this but a quick search on Revenue Canada's site turned up this information. I think what it is saying that if it isn't income from an employer or business, it isn't taxed.

1.16 The amount or value of a prize received by a taxpayer from a lottery scheme is not taxable as either a capital gain or income. This will be the case unless, due to the circumstances applying to the lottery scheme, the prize can be considered to be income from employment, business or property, or a prize for achievement referred to in paragraph 56(1)(n). Lottery ticket retailers who sell winning tickets must include in their income the amount or value of any prize commissions they received from a provincial lottery corporation. For more information, see Lottery Prize Commissions.

1.17 Paragraph 40(2)(f) specifies that no taxable capital gain or allowable capital loss results from the disposition of a chance to win or a right to receive an amount as a prize in connection with a lottery scheme. However, subsection 52(4) states that for the purposes of computing any tax consequences after receiving a prize, a winner in a lottery scheme is deemed to have acquired the prize at a cost equal to its fair market value at the time of acquisition. Where the prize in a lottery scheme is an annuity, see ¶1.29.

1.18 A lottery has been defined as a scheme for distributing prizes by lot or chance among persons who have purchased a ticket or a right to the chance. If real skill or merit plays a part in determining the distribution of the prize, the scheme is not a lottery (unless it is based essentially on chance and the degree of skill is minimal).

 

Did any of you folks win??? Am i getting a new saw?

 

I am a winner, I gave six dollars and got 4 back...

Pretty good, right?

 

Boy, the Canadians have some truth in there! It surely is a scheme, and yes, degree of mathematical skills are minimal, very minimal!
I still like this definition of the lottery...it is a voluntary tax on those that are bad at math

 

Wow one winner. $700+ million cash instantly. Just crazy