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

[gmeikle]

I don't know...when you take it to court..let me know what they say.

[A_Britishcolumbian]

again, i do not gamble, so i would not likely find myself in such a situation.

but should you find yourself a lotto winner, i can save you a trip to the courthouse as winnings are to be claimed at

British Columbia Lottery Corporation
74 Seymour St W, Kamloops, BC V2C 1E2
(250) 828-5500

[oneh2obabe]

Designated regional prize payout locations can pay prizes up to $9999.99.
Prize claims of any amount can be claimed at either Corporate Office - Vancouver (BCLC Marketing & Sales Office, 2940 Virtual Way, Vancouver, BC) or Kamloops.

Prizes Between $1,000 & $9999.99
Prize Claim Hours: Mon to Sat: 9am to 4pm
Lake City Casino Kelowna
1300 Water Street, Kelowna, BC
V1Y 9P3

[Bsuds]

If you purchase your tickets online (like I do) then the winnings are deposited to your BCLC account and from there you can move it to your Bank account. Apparently if you win over $10,000 like this guy did they phone you first.

I'm still waiting for my call.

[Dizzy1]

I'm still waiting for my call.

I've intercepted it ... I'll send you a Pina Colada ;)

[Rwede]

Good on this fellow! What a generous donation!

Cue the NDPers that talk down every CEO as being greedy bass-turds that only want to screw over people earning less than they.

[Bsuds]

As of June this year Bill Gates has donated $28 Billion to his charitable foundation!

Wow

[Bsuds]

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

To prove you are the proper person to give the winnings too.

[baconbits]

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

Wow, the ID thing again with you again...

I'm not going to bother explaining the obvious.

[Bsuds]

I'm not going to bother explaining the obvious.

Only to those who are capable of thinking for themselves.

[A_Britishcolumbian]

what is obvious to some is not always obvious to others.

i really have no idea what y'all are finding so obvious that i don't, and if you would be so kind, i would like to know.

here is another lotto winner that was similarly philanthropically minded person.

Fortney: Lotto winners say giving away millions ‘feels so good’

BY VALERIE FORTNEY, CALGARY HERALD DECEMBER 17, 2013

They thought he was crazy. More than a few didn’t think he would go through with it. And no one could believe that he’d been buying lottery tickets all those years with the plan to give it all away if his numbers came up.

No, I’m not talking about Tom Crist, who on Monday announced to the world that his $40-million windfall playing Lotto Max would go to charity.

Mind you, over the past 48 hours just about everyone’s been talking about the recently retired Calgary businessman, whose winning May ticket now makes his the biggest lottery payout our city has ever seen. Crist was already making good on his promise Tuesday, delivering a cheque for $1.2 million to the Alberta Cancer Foundation. The foundation collects donations for Calgary’s Tom Baker Cancer Centre, where Crist’s wife of 33 years, Jan, was treated before her death in early 2012.

While he was busy being Santa Claus, the 64-year-old’s story was winding its way around the planet, with comments on news sites from India to the U.K. alternately praising his generosity, questioning his sanity and wondering why anyone would play the lottery without the intention to blow it on fancy cars and home theatres.

But the man I am talking about is Allen Large, an 84-year-old resident of Truro, N.S., who I caught up with on Tuesday, the same day as the 2-Mega Millions prize generates such a ticket buying frenzy; its $636-million pot bringing it within spitting distance of becoming the biggest U.S. lottery prize in history.

Large is one of only a handful of people on earth who have walked the path Crist has chosen.

“He isn’t crazy at all,” says Large, who in 2010 won more than $11 million playing Lotto 6/49. “We gave it all away, my dear, every last cent — and I’d do it all again in a heartbeat.”

Large and his wife Violet may have played the lottery regularly, but they didn’t gamble when it came to planning for their retirement.

“We managed to save about $2 million,” says the man who held such jobs as policeman and truck driver. “The lottery was never part of our retirement plan.”

Over the years, he says, he told friends and family about his plans to help out local hospitals, churches and fire stations ­— a promise he and Violet kept after gifting $100,000 each to 12 family members.

“That would make people laugh,” he says of what ultimately amounted to 93 charitable donations. “You know what I think would have been crazy? To keep money we didn’t need.”

Three years later, Large, whose beloved wife died in 2011, has no regrets about giving away his millions.

“Some days, though, I do regret winning at all,” he says, noting that morning he was awakened by a phone call from a woman in the Czech Republic asking him for $50,000. “That’s when I try to think about all the good we were able to do with the money.”

While tales of squandered lottery winnings regularly make the headlines, those given away are far less common. Large isn’t the only one, though, to have taken this bold step.

Bob Erb also had no problem parting ways with staggeringly large sums of lottery money in the name of charity.

Erb, a resident of Terrace, B.C., won $25 million in a 2012 Lotto Max draw. He has since given away more than $8 million, helping everyone from families facing cancer to single moms needing a car, and the local community hall and homeless shelter.

“Sure, you sit around and daydream like everyone else about what you would do if you won,” says the 61-year-old, who coincidentally was featured on CBC’s The National on Monday, the same day Crist came forward with his surprising announcement.

“But then when you have all this money, you realize you don’t need it all — and that you can do a heck of a lot of good for your community.”

While he has treated himself to such luxuries as a new bathroom and a still-under-construction “man cave” housing $500,000 in classic cars, Erb plans to give out the maximum annual amount his money manager deems will help keep his bank balance healthy.

“The best advice I could give is to invest well — $40 million for charity could turn into $140 million,” says Erb, who has also made a name for himself as an outspoken proponent for the legalization of marijuana. “But you’d have to be crazy not to get financial advice before you start giving it all away.”

While some might still think it’s indeed crazy to give away $40 million, one’s thing for sure: there are at least two other Canadians who think Tom Crist has made the sanest of decisions: “It’s good not to have to worry about money,” says Bob Erb.

“And it feels so good to help out others.”

For the recipients of his generosity, the feeling is mutual.

“We are honoured this individual is supporting Tom Baker Cancer Centre,” Dr. Peter Craighhead, medical director of the centre, said Tuesday of Crist’s surprise donation. “Cancer touches many families and private donations go a long way to providing compassionate care and driving our aggressive research efforts to find ways to prevent and treat cancer.”

http://www.calgaryherald.com/news/calga ... story.html

[Always Sunny]

what is obvious to some is not always obvious to others.

i really have no idea what y'all are finding so obvious that i don't, and if you would be so kind, i would like to know.

Because we do our research before asking a forum full of people what the taxes would be on $40 million.

I literally typed in the letters "a-r-e l-o-t-t" of the query "are lottery winnings taxable in Canada" and the question is answered in the first link (http://www.cra-arc.gc.ca/tx/ndvdls/tpcs ... d-eng.html).

The shocking truth, I don't gamble either! (and I knew this prior to Googling that link).

[A_Britishcolumbian]

still not seeing it.

whether it is a rule or not is not the issue.

why should anything more than a birth certificate be needed to claim a lottery prize?

[Always Sunny]

still not seeing it.

whether it is a rule or not is not the issue.

why should anything more than a birth certificate be needed to claim a lottery prize?

Because it's a rule it's YOUR issue.

Not all lottery winnings require two pieces of ID for one.

A major credit card can serve as ID for larger winnings in certain places. What, you think they they're going to hand you the keys to an armored truck with $50 million in it ? Dammed right you are going to need a bank account.

[A_Britishcolumbian]

the logic that something 'should be' because 'it is' is flawed.

gang rapes occur, so they should occur? that logic simply is crazy.

as we have discussed, lottery winnings are tax free, but the interest earned on them are not, so, not putting the money in a bank is a great idea to some i am sure.