If you won the Lottery Jackpot, how long would you wait to claim your prize?
- Thread starter probyn
- Start date
I'll just do it the same way Trudeau hides his trust fund in a Caribbean tax shelter.(This is true)
Honestly, many rich Canadians do it.
Jacques Villeneuve
The only Canadian to ever win a Formula 1 championship, Villeneuve lived a life of luxury in Monaco and Switzerland during most of his racing career, but lived in Quebec for a period in the 1990s and from 2007 to 2013. The Pandora Papers show he had offshore companies set up in zero-tax jurisdictions from the start of his career, back in 1992. They were set up to receive racing and endorsement income.
Elvis Stojko, seen in the men's short program during the Salt Lake City Winter Olympics in 2002, says he didn't even know which country his offshore trust was in until CBC mentioned it. (Jamie Squire/Getty Images)
Elvis Stojko
The karate-chopping figure skater won hearts with his edgy Olympic performances and world championship wins, but the money from his success wasn't bad, either. The leaked files show Stojko transferred Canadian assets worth up to $6.5 million into an offshore trust in the Caribbean in 2007, while he was living in Mexico. Skate Canada, an organization that receives public funding, signed off on the transaction. Stojko told CBC News that he relied on his lawyer to handle his finances, and had "no real involvement or interest" in any of it. "When my longtime lawyer recommended that I set up a trust ... I did not question his advice, and I trusted him to act in a manner which was both in my best interests and in compliance with the law." Skate Canada declined to comment.
And if all else fails, yeah I would leave Canada.
Those methods are not exactly as legal as the article suggests and for that matter the article refers to some legal issues
If you hold assets overseas you need to tell the CRA
If you have an overseas holding company as opposed to a company that does actual business, the CRA at least used to not allow that either.
Also the idea of trusting some stranger with my assets in a trust is just not on for me. Lawyers fuck their clients all the time.
Hell even if you move over seas you can still get fucked if you are considered to have substantial ties. What counts as ties. Nobody knows, it's on a case by case basis. A driver's license, a small condo for you to stay to avoid hotels for a month a year, professional memberships, the combo of what puts you over the limit is not actually set which is total bullshit. You could be fully set up overseas, never actually go back to Canada and still in theory be considered a resident of this country.
Also if you have dividend stocks or annuities, you get a 15 to 25% withholding tax if memory serves depending on the tax treaties your country has with another one, so you are getting fucked in the ass that way even if you never set foot back in Canada.
Also Justin TrueDooh has friends with trust funds, but as far as I can tell he doesn't himself,
Justin Trudeau’s Tax Avoidance Hypocrisy
This morning, Justin Trudeau attacked Andrew Scheer for planning a tax break for people who use numbered companies to protect their income. Trudeau said Scheer is “planning to give a tax break, larger than the average person makes in a year, for people who are using private corporations to hide...
www.ndp.ca
I would take $ 1,000,000 of it, fly to Lost Wages ( or Macau) and change it into 100 x $ 10,000 chips and play one hand of BJ. Just to get that adrenaline rush out of my system ! 
Depends really.
First thing is making sure the ticket is signed and then put in a safe place. Hopefully I don't forget where I put it.
Then consult a tax specialist on best way to either hide it off shore or max returns while paying the least amount of tax.
Change phone number. Then cash the ticket and get out of dodge for a few weeks.
