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Old 11-13-2006, 09:38 AM
DavidNB DavidNB is offline
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Join Date: Aug 2005
Posts: 646
Default Re: Question on Canada and taxes

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I hired a tax lawyer 4 years ago to research this for me. It cost me 1500.00
Basically, he said there was no case law where revenue canada had gone after a poker player. And that Poker winnings do not fall under the criteria for "taxable income".



I think you got some bad advice. There is a section that does talk about gambling income; specifically when it is exempt and when it is taxable. And there have been Canada Revenue v sportbettors cases heard. How exactly does a poker player differ from a sportsbettor as far as the Candian tax code is concerned?

I asked my brother-in-law, who used to work for Revenue Canada and he confirmed that my understanding of the situation (see above)was correct.

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http://www.cra-arc.gc.ca/E/pub/tp/it...it334r2-e.html
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