Re: Are prize money subject to tax?
Not in Canada
That's why the residency makes the difference!
When did things change? Canada has one of the highest tax withholding in order to maintain the free healthcare for everyone and all the other benefits.
"Champions aren’t made in gyms. Champions are made from something they have deep inside them a desire, a dream, a vision. They have to have the skill and the will. But the will must be stronger than the skill.”- Muhammad Ali“