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Lotto winner says he'll donate $40M jackpot to charity

Lotto winner says he'll donate $40M jackpot to charity

Postby oneh2obabe » Dec 16th, 2013, 7:12 pm

A Calgary man who won a $40-million lottery prize last May has kept it a secret until now, but says the money will go to charity in memory of his wife.

Tom Crist was golfing in Palm Springs, Calif., in May when his phone rang.

"As soon as I hung up from my cellphone call from Western Canada Lottery I never thought about it. We finished our lunch, we went out golfing. I’ve kept it a secret, even my kids didn’t know until today," said Crist on Monday.

Crist said that as soon as he got the call he knew where the money was going to go.

"I lost my wife to cancer two years ago."

His wife of 33 years, Jan, died in February 2012. She was 57.

Crist said cancer was a special concern, because of what happened to his wife. "She was fairly young and stuff. She beat it for six years before it finally caught up to her."

Crist said he plans to put the money into a family trust fund to be doled out to charities he and his kids pick over the years. Charities such as the Canadian Cancer Society and Calgary's Tom Baker Cancer Centre will be at the top of that list, he says.

“I’ve been fortunate enough, through my career, 44 years with a company. I did very well for myself. I’ve done enough that I can look after myself, for my kids, so they can get looked after into the future. I don’t really need that money."

Crist retired as the CEO of EECOL Electric in late September of this year. The electrical wholesale company, with a head office is in Calgary, was sold in December 2012.

Crist said his children were totally behind his plan, but asked why he didn't tell them about it sooner.

“I said, 'I just didn’t know how to deal with it.' I was hoping that I could just somehow move it into, you know, from the lotto corporation into my trust account and not have the media," said Crist.

"But, when you buy a ticket you’re subject to the rules of the lottery and that’s a picture and a notification — especially if it’s a big win."

So when Crist went in to have his picture taken he went for an understated look — a ball cap and sunglasses.

Image

“They asked me, ‘Is that you’re natural look?’ and I said ‘Yep. That’s all you’re getting,’” he laughed.

Crist plays both Lotto Max and Lotto 6/49 by subscription, meaning players can pay for their selections for up to a year at a time.

"I wasn’t even sure which game I’d won on, or what the numbers were. I’ve paid for the subscription when I get the renewal notice every year, and then I just file it — sometimes I’d get a cheque for $10 or $20, but I never expected this,” Crist said, in a news release from the lottery corporation.

Subscribers' numbers are checked for them after each draw and they are automatically paid any prizes won.

In the case of any prize over $10,000, subscribers receive a telephone call first.

http://www.cbc.ca/news/canada/calgary/c ... -1.2466610
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Re: Lotto winner says he'll donate $40M jackpot to charity

Postby Captain Awesome » Dec 16th, 2013, 7:27 pm

Good for him. Not many people can say "Forty million? Nah, just give it to those folks over there.."
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Re: Lotto winner says he'll donate $40M jackpot to charity

Postby A_Britishcolumbian » Dec 16th, 2013, 7:31 pm

i am guessing this is quite a bit larger a deal than the article lets on.

does anyone know what 'taxes' would be applied to this win? and how much would this winner be required to pay in order to donate the $40 million?
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Re: Lotto winner says he'll donate $40M jackpot to charity

Postby rvrepairnut » Dec 16th, 2013, 7:37 pm

Captain Awesome wrote:Good for him. Not many people can say "Forty million? Nah, just give it to those folks over there.."

Hes a fool. the CDN cancer society are very bureaucratic,overpaid, and very wastefull.More of a big business that's all about money instead of helping cancer stricken people and doing research
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Re: Lotto winner says he'll donate $40M jackpot to charity

Postby rvrepairnut » Dec 16th, 2013, 7:38 pm

A_Britishcolumbian wrote:i am guessing this is quite a bit larger a deal than the article lets on.

does anyone know what 'taxes' would be applied to this win? and how much would this winner be required to pay in order to donate the $40 million?

brain up on lottery winnings in Canada!! all tax free my friend
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Re: Lotto winner says he'll donate $40M jackpot to charity

Postby Captain Awesome » Dec 16th, 2013, 7:40 pm

rvrepairnut wrote:Hes a fool. the CDN cancer society are very bureaucratic,overpaid, and very wastefull.More of a big business that's all about money instead of helping cancer stricken people and doing research


I'm sure you are a stellar example of what charity should be and do or have some expert knowledge in the field.
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Re: Lotto winner says he'll donate $40M jackpot to charity

Postby steven lloyd » Dec 16th, 2013, 7:45 pm

Captain Awesome wrote:Good for him. Not many people can say "Forty million? Nah, just give it to those folks over there.."

True dat (I'd be king of Ecuador)
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Re: Lotto winner says he'll donate $40M jackpot to charity

Postby Bsuds » Dec 16th, 2013, 7:52 pm

A_Britishcolumbian wrote:i am guessing this is quite a bit larger a deal than the article lets on.

does anyone know what 'taxes' would be applied to this win? and how much would this winner be required to pay in order to donate the $40 million?



You are dumber than I thought and you profess to advise people.

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Re: Lotto winner says he'll donate $40M jackpot to charity

Postby LoneWolf_53 » Dec 16th, 2013, 8:21 pm

A_Britishcolumbian wrote:i am guessing this is quite a bit larger a deal than the article lets on.

does anyone know what 'taxes' would be applied to this win? and how much would this winner be required to pay in order to donate the $40 million?


Looking for the negative aspect yet again are we?

Here's a thought, why not mix it up once in a while and take a gander from the positive side.

Who cares what the taxes are, which in Canada on lotteries I believe is 0%, even if it was 80% he'd still be giving 8 million to charity, and that's more than most would do.
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Re: Lotto winner says he'll donate $40M jackpot to charity

Postby A_Britishcolumbian » Dec 16th, 2013, 10:01 pm

and that's the thing.
as someone who does not gamble, i am completely unaware of the tax implications of such a win.

i believed the article, and with the idea that there would be some taxation, believed then that after donating the $40 million, he would then pay some amount of tax from his own pocket.

it would seem you, if unaware of a 0% tax rate, would find the article accurate if the donation were only, as per your example, $8 million. if that were the situation, i find the article to be in error by stating an incorrect figure.
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Re: Lotto winner says he'll donate $40M jackpot to charity

Postby A_Britishcolumbian » Dec 16th, 2013, 10:06 pm

i will also point out that i believed, at least possibly, that the man's donation was greater than perceived/stated. i saw the possibility of a greater good deed than presented. i believed i was being very positive.

on the subject of 'who cares what the taxes are', i think it was blatantly obvious that i care, as well as others. and in case you have been unaware of the numerous threads discussing the subject of taxation in this forum, i can tell you they are many, and that suggests to me that very many people in this forum do care.

i trust that answers at least one of your questions. :)
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Re: Lotto winner says he'll donate $40M jackpot to charity

Postby gmeikle » Dec 16th, 2013, 10:11 pm

I do believe to claim a lottery winning of over 10,000 dollars, photo id or 2 pieces of non pictured government id is needed. Also the winner must have a sin .

I guess that could leave a few people out.

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Re: Lotto winner says he'll donate $40M jackpot to charity

Postby A_Britishcolumbian » Dec 16th, 2013, 10:15 pm

one can print money at home without any id :)

then they could donate it to a charity of their choice.

working for a charity can be very rewarding i have found.
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Re: Lotto winner says he'll donate $40M jackpot to charity

Postby cubafreak » Dec 16th, 2013, 10:33 pm

gmeikle wrote:I do believe to claim a lottery winning of over 10,000 dollars, photo id or 2 pieces of non pictured government id is needed. Also the winner must have a sin .

I guess that could leave a few people out.



LOL!!!!
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Re: Lotto winner says he'll donate $40M jackpot to charity

Postby A_Britishcolumbian » Dec 16th, 2013, 10:39 pm

if lottery winnings are not subject to tax, then why would any id, other than a birth certificate, be required to claim a prize?
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