When Canada’s Olympic athletes returned home from Rio this week with a 22-medal haul, they were met at the airport by cheering family and friends as well as autograph-seeking fans. But some of them may also soon be greeted by the taxman looking for a piece of their Olympic winnings.In addition to the hardware the winning athletes brought home from the games, each Canadian medal winner will also receive a cash award courtesy of the Canadian Olympic Committee’s Athlete Excellence Fund. Canada’s four gold medal winners will each receive $20,000, the three silver medalists will take home $15,000 per medal and each of Canada’s 15 bronze medal winners will receive $10,000. Note that the prizes apply to each member of a winning team such that, for example, each of the 18 players on Canada’s bronze-winning women’s soccer team will receive $10,000.
Source: Why Canada’s Olympic medalists can’t outrun the taxman — yet | Financial Post
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