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Old 05-29-2007, 12:22 AM
pyedog pyedog is offline
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Join Date: Feb 2005
Location: Waterloo, ON
Posts: 710
Default Re: Canadian Online Poker Tax Thread

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It depends on each unique set of circumstances.

I think most tournament winnings would be exempt unless you were a full-time circuit player.
Cash game earnings are entirely dependent on facts - I have always said 98% of players would not be taxable.

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I don't think Myst is a full time circuit player, but he played several tournaments last year with much success (dollar wise). He's also had a lot of success in cash games. He considers himself a poker professional and I don't believe that he works aside from poker. I'm just wondering what would make these two tax lawyers say that he shouldn't pay tax. Would also like to hear from Myst as the rationale the lawyers gave for their opinions.

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Yeah I don't understand this either. If Myst doesn't have to pay taxes according to those tax lawyers than no Canadian poker players do.

Man that would piss me off not only paying taxes on poker but knowing that some better players who make tons more playing full time are somehow avoiding paying them.

The stupid CRA can't even make their laws clear yet they expect us to just be honest and pay taxes we might not even have to.
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