Are You Lucky Enough To Live In One Of These 9 Countries Where You Won’t Pay A Cent Of Tax On Your Lottery Winnings?

Maureen and William McLean of Reserve Mines, Cape Breton Island won $1 million in Canada's 649 game. But can they keep it all?

Did you know many countries have compulsory government and personal taxes which eat up a huge amount of lottery player's winnings?

So will this Nova Scotia couple get to keep the whole amount without paying taxes?

Luckily, since lottery winnings are tax-free in Canada, they'll get to keep it all.

But are you living in one of the countries which have a tax on winnings - without knowing it?

All USA lottery winnings are subject to Federal and some local taxes. The IRS takes a 25% withholding tax from any wins over $5,000.

In the USA, taxes and a reduced prize through part payments, known as annuities, can take up to two thirds of your winnings from the advertised prizes.

For example, if you win a $100,000 prize in the United States and choose a smaller lump sum payout, the lower payout - along with depreciation, withholding and personal taxes - means there could be as little as $33,000 left in your pocket.

However, there are some countries where you don’t pay any tax on the win at all. These following countries pay out a lump sum immediately, tax-free, to all resident lottery winners:

Australia 

Canada 

Finland 

Germany 

Ireland 

Italy 

Liechtenstein 

New Zealand 

United Kingdom

So, can you get around this problem and claim most of the prize for yourself if you don't live in these countries? Unfortunately there is little you can do about it, but don't let that stop you from playing!