If Canadians “Own The Podium” they owe the CRA … because in Canada, while lottery winnings aren’t taxable, Olympic medal wins are.
Every Canadian medal won in Rio is also awarded thousands of dollars by the Canadian Olympic Committee’s Athlete Excellence Fund. Gold, silver, and bronze receive 20,000, $15,000, and $10,000 respectively.
So swimming sensation Penny Oleksiak will pay for those gold, silver and two bronze medals, but somehow it doesn’t seem like she’ll make a big splash about it … And I’ll stop now, before I make any worse wordplays … (If anything, it’s those terrible wordplays that should be taxed.)
But I Dahliagress …
Do you think it’s fair to tax Canada’s Olympic champions on their medal rewards?