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Ontario's Finance Minister Opposes Gambling Tax

ONTARIO – As reported by the Toronto Star: "Ontario's finance minister is opposed to a scheme to tax lottery and gambling winnings.

"…Gambling in Ontario nets the province $2 billion annually. All the winnings are tax-free, unlike in the United States, where some states tax gambling proceeds at rates of up to 18 per cent.

"The Ontario Lottery and Gaming Corporation paid out $1.13 billion in prizes last year, meaning an 18 per cent tax could have brought in $203 million.

"That wouldn't make much of a dent in a provincial deficit that Premier Dalton McGuinty has pegged at $7.8 billion…"

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