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January 24, 2014

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CQ

As with gov't (Cdn.) lotteries, that million dollar prize might be a tax-free prize. Also of note, in Canada the fed. / prov. tax codes allow for approx. the first $9,600 of a person's annual income as being tax-exempt.

Chad

I know that Canadian tax rates are higher than the U.S. when it comes to really rich people. So winning that kind of prize tax-free would be a bit of a surprise. Might have to do a story on that.

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