Good thread. I am several of my friends are in this very precarious position - being pro players (i.e. having no other source of income) in Canada.
I recently talked to a tax lady as I filed my 2003 return. While she had not heard of someone playing poker online, she had handled professional gamblers before.
She referred me to:
Rev Canada link - Miscellaneous Receipts
Sections 3, 10 and 11 appear to have relevance to us.
The phrase "reasonable expectation of profit" seems to be the key phrase.
I have a couple questions:
1 - Since I have been making withdrawals from neteller straight into my Canadian Bank account I am leaving a paper trail of income. Does this mean I should declare this?
2 - I have made a couple withdrawals by using the Neteller Debit card - is this trackable by Revenue Canada?
3 - How would I convince Revenue Canada that poker winnings are a "windfall" and do not suggest a "reasonable expectation of profit"?
4 - Do I need to go to a tax attorney?
5 - Davidross, can you comment on this subject?