Would you give the raffle money all back for a World Series title?
One Blue Jays fan cashed in from his team's 50/50 raffle during the World Series.
Video Transcript
A Canadian man named Eric with an A won the Blue Jays 50/50 raffle, which was aggregated over the World Series games.
Advertisement
He won a tax-free $25 million the biggest 50/50 jackpot winner in baseball history.
Lottery prizes.
Are not taxable in Canada.
Whether you win a scratch ticket or $50 million in the lotto max, the Canada Revenue Agency considers it windfall gain, not earned income.
You do not need to report lottery winnings on your tax return.
What's the first thing you're buying if you won that much money?
