Question on Canada and taxes

thegowzer · #1 10-13-2006, 12:45 AM

Ok so i know if you're playing in the states, legally you should be declaring your winnings and pay taxes.

What about in canada?

monkeyman · #2 10-13-2006, 12:55 AM

if you are playing poker professionally and it is your main source of income, you need to pay tax. if not, you don't.

blueodum · #3 10-13-2006, 12:59 AM

It doesn't even need to be your main source of income. If you are playing in a systematic way, the goal of which is to earn money, it's taxable.

thegowzer · #4 10-13-2006, 01:02 AM

what if its for recreation? Seems like a gray area.

ianlippert · #5 10-13-2006, 01:06 AM

probably the best canadian tax thread

Canadian tax thread

blueodum · #6 10-13-2006, 01:20 AM

If you truly are a recreational player (and you have to prove that you are if you are audited and decide to appeal in court), you don't have to declare poker winnings.