I love Canadians!

What kind of low rent operation is this? First they don't spin the barrel and then when "Jay" reaches in to draw he could've easily been palming the winning ticket.

Geoff Parkin (BC Children's Hospital Foundation Board Member): "This year's dream lottery made a profit of about 2.2 Million, that's going to go straight toward BC Children Hospital's foundation."

"100% of the proceeds from the lottery are going directly to childhood research"

Total revenue from ticket sales (8.9 mil) - Retail value of all prizes (3.4 mil) = 2.2 mil profit?

Somebody made a killing, there's a missing 3.3 Million.
Does the lottery vendor (ie government contractor) get 37%? And the charity gets 25%?

*scam *fraud

@marbles I imagine a significant portion of it went to the BC government as tax (with a small percentage of that going to the federal government). Lottery winnings are not taxable in Canada, so the government takes a hefty sum off the top.

Thankfully a significant portion of the government's gaming revenue goes back into the community.

6:32 Did the anchor say he was going to do "sports shit"?

That was awesome eh

*quality

Boosting this quality contribution up in the Hot Listing - declared quality by Lendl.

That male host looks angry and jealous.

the fact that he had a dream about it...
ya gotta love it.

>> ^Skeeve:

@marbles I imagine a significant portion of it went to the BC government as tax (with a small percentage of that going to the federal government). Lottery winnings are not taxable in Canada, so the government takes a hefty sum off the top.
Thankfully a significant portion of the government's gaming revenue goes back into the community.


Thanks for the lesson in Doublespeak. So what is this tax called?

Even if so, there's no disclosure about where the other money went. And really there's more than 3.3 mil missing since I just subtracted the retail value of the prizes. There's a long list of "suppliers and sponsors" that donated prizes or sold prizes at cost.

*news

Adding video to channels (News) - requested by ant.

3,088 prizes available to be won. Retail value of all prizes is $3,375,790 and is based on the Manufacturer’s Suggested Retail Price as provided by our suppliers at time of quoting and includes related taxes.
-Prizes are tax free to Canadian residents.
-The cost of tickets is not tax deductible.

4.1. What is gross revenue?
Gross revenue is all monies generated through a gaming event, including total sales and interest income. Gross revenue minus prize costs and other expenses equals net revenue.

Expenses must not exceed 25 per cent of the actual gross revenue of the ticket raffle. Prize costs are not included in the 25 per cent maximum expense calculation.

Remember amount of money taken in does not equal profit. The profit after overhead was 2.2 mil
Overhead would include, Gaming License, Advertising costs, mail outs, tv ads, printing, office space, office staff.

Taxes - In Canada, all taxes are paid by the raffle holders.
I've looked everywhere but can't find the payable amount of taxes but from experience, I've heard it's around 40-50% but that number could be out-of-thin-air.

Sources:
http://www.google.com/url?sa=t&rct=j&q=bc%20canada%20raffle%20percentage%20tax&source=web&cd=6&ved=0CEYQFjAF&url=http%3A%2F%2Fwww.pssg.gov.bc.ca%2Fgam
ing%2Flicences%2Fdocs%2Fguide-a-b-licence.pdf&ei=dCS0TrTFBsOviAL9yohw&usg=AFQjCNF6qX0nmj58LIveUYaTNaNlXt4reQ
&
http://www.pssg.gov.bc.ca/gaming/

I don't think Doublespeak means what you think it means.

As for what the tax is called, I'm not sure, but I think most of it is just plain old GST.

With regards to the disclosure, most of that information is protected by Section 21 of the Freedom of Information and Protection of Privacy Act, so without FOI request you aren't going to find out. You can find audit reports of various raffles and lotteries at the Ministry of Public Safety's website but they will be redacted to adhere to the freedom of info laws.

Anyway, it's not a scam or fraud - they are audited regularly to ensure compliance with the rather strict gaming laws.>> ^marbles:

>> ^Skeeve:
@marbles I imagine a significant portion of it went to the BC government as tax (with a small percentage of that going to the federal government). Lottery winnings are not taxable in Canada, so the government takes a hefty sum off the top.
Thankfully a significant portion of the government's gaming revenue goes back into the community.

Thanks for the lesson in Doublespeak. So what is this tax called?
Even if so, there's no disclosure about where the other money went. And really there's more than 3.3 mil missing since I just subtracted the retail value of the prizes. There's a long list of "suppliers and sponsors" that donated prizes or sold prizes at cost.

>> ^acidSpine:

6:32 Did the anchor say he was going to do "sports shit"?


Welcome to Canada.

>> ^marbles:

>> ^Skeeve:
@marbles I imagine a significant portion of it went to the BC government as tax (with a small percentage of that going to the federal government). Lottery winnings are not taxable in Canada, so the government takes a hefty sum off the top.
Thankfully a significant portion of the government's gaming revenue goes back into the community.

Thanks for the lesson in Doublespeak. So what is this tax called?
Even if so, there's no disclosure about where the other money went. And really there's more than 3.3 mil missing since I just subtracted the retail value of the prizes. There's a long list of "suppliers and sponsors" that donated prizes or sold prizes at cost.


Absence of proof is not proof of absence. Just because the news show didn't say, doesn't mean the information is unavailable. Also, there is no concrete reason to assume validity on the report. Fox News should have shown everyone that at least.

Also, when @Skeeve said "winnings are not taxable" they meant the recipient is not taxed, the lottery is. Lottery takes in 10mil, government takes 5mil, winner gets prize of 5mil. Unlike the US, where the tax burden is on the recipient, which only really makes the lottery look better. Powerball is kinda lame that way. "biggest payout" but you lose over half almost immediately. I like the Canadian lottery system, you keep what you kill.

Hi. I've worked for the BCLC.

The company, and all other gambling entities, pay nearly 50% of their revenues to the province. These funds go to schools, sports programs, hospitals etc and have for a very long time in BC. The BCLC heavily markets this information throughout the BC, and it is a major positive for them and BC.

>> ^Skeeve:

I don't think Doublespeak means what you think it means.
As for what the tax is called, I'm not sure, but I think most of it is just plain old GST.
With regards to the disclosure, most of that information is protected by Section 21 of the Freedom of Information and Protection of Privacy Act, so without FOI request you aren't going to find out. You can find audit reports of various raffles and lotteries at the Ministry of Public Safety's website but they will be redacted to adhere to the freedom of info laws.
Anyway, it's not a scam or fraud - they are audited regularly to ensure compliance with the rather strict gaming laws.

How would you know what Doublespeak means when you're actively engaging in it?

So the BC Children's Hospital Foundation doesn't have to disclose where any of the money went, only pay out 25% and this is "strict gaming laws"? LOL ok pal.

>> ^Payback:

Absence of proof is not proof of absence.

O RLY?

What you and @Skeeve don't seem to realize is it doesn't matter if it's taken "off the top" or from the winnings, you're still paying the tax. Just like it doesn't matter if the house adds the vig up front or takes it in a form of a rake, you're still paying the juice.

I'm starting to think you are just being willfully ignorant.

The Foundation absolutely has to disclose where the money went. Just because some troll on the internet doesn't have access to the numbers doesn't mean we don't have strict gaming laws. It means we have strict access to information laws.
>> ^marbles:


How would you know what Doublespeak means when you're actively engaging in it?
So the BC Children's Hospital Foundation doesn't have to disclose where any of the money went, only pay out 25% and this is "strict gaming laws"? LOL ok pal.


>> ^marbles:


O RLY?
What you and @Skeeve don't seem to realize is it doesn't matter if it's taken "off the top" or from the winnings, you're still paying the tax. Just like it doesn't matter if the house adds the vig up front or takes it in a form of a rake, you're still paying the juice.


And no one here said they aren't paying the tax... in fact that's all we've been saying. You seem to think there is some scam or fraud going on, and we've been saying that the "missing" money was paid in taxes - taxes that would be paid in any lottery in the world.

I'm done here. I'm thinking you are just a troll looking for an argument - there's no point in continuing this discussion.

@Payback Saying "Absence of proof is not proof of absence," is a bit redundant no?

How about 'Absence of proof is not proof of anything.'

Or perhaps 'Just because you don't see it, doesn't mean it's not there; and it also doesn't mean it IS there either.'