Man, am I glad I live in Canada. ^^:
You recieve 100% of your lottery winnings here, the government only gains access to the money if you decide to give some of it away without adding the recipient to your lottery winnings forms. If you add the person to the forms at the time of collection, whatever sum of money you give them is completely tax free for both parties.
After that, assuming you have no ambitions of living large, you place $2.2 million into a bank account and have the monthly interest transfered to your everyday account. With current interest rates, that sum of money would generate $150,000 per year. With the government's new 'charitable donation' laws which register the value of a donation over $10,000 at roughly four times it's value, you only need to make one donation a year. Add to this a little intelligent investing in tax deductable funds and you can live comfortably without ever having to pay taxes for the rest of your life.
What you do with the rest of the money, who cares. ^^
Personally, assuming I won a $20 million dollar jackpot (jackpots are smaller in Canada than the US, rarely does a jackpot exceed $30 million), I'd give $5 million to my parents (they're, honestly, far too thrifty to know what to do with it), invest $7.5 million into a fund where yearly profits are divided amoung three charities of my choosing, buy a nice old apartment buiding and fix it up then rent out all the apartments, saving the nicest one for me, and use the rent collected to pay for maintance and upkeep (a self sustaining investment and a legal place of residence - needed to maintain citizenship), I'd then invest the rest of it into an investment/mutual fund and live off the interest as I travel the world or do whatever else I want for the rest of my life.
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Originally Posted by kj1980
Why the heck do you want to blow ten million US dollars in importing our cars when they aren't even worth that much? Is the Nissan Skyline thatbig of a deal for people outside of Japan? I'd rather buy one Enzo Ferrari and one Maybach 62 than buy several domestic cars that I can pick out at a used car dealership.
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Getting that Enzo would prove a challenge in and of itself. Those cares are only up for sale to people who have owned alteast 7-10 previous Ferraris and technically, they've all been sold already. ^^: