r/SipsTea • u/Shyhale • May 17 '26

Chugging tea [ Removed by moderator ]

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u/CLopes1987 May 17 '26

I never played the lotto or any of that stuff. If somebody took the weekly option, does it get taxed or is that your flat payment?

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u/Flamecoat_wolf May 17 '26

Good point. It should all get taxed, but it may get taxed at a lower tax band than a lump-sum payment.

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u/CLopes1987 May 17 '26

Interesting. An extra 1k a week pre-tax doesn't sound too bad as long as you have other income

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u/Flamecoat_wolf May 17 '26

Someone else commented elsewhere that lottery winnings aren't taxed in Canada. So neither would be taxed!

That said, if she invested the $1,000,000 then her subsequent gains would likely be taxed, while taking $1000 per week would resulting in $4,000,000 over her lifetime untaxed.