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#1
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Re: Canadian Online Poker Tax Thread
I'll eat my hat if anybody at Revenue Canada can prove beyond a doubt that any player has a reasonable expectation of profit from online gaming. Unless you're bringing in over $100K per year, I can't see them bothering with tracking you down.
Once I get to that point, I can hire someone to tell me how to protect my winnings. [img]/images/graemlins/smile.gif[/img] |
#2
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Post deleted by Mat Sklansky
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#3
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Re: Canadian Online Poker Tax Thread
[ QUOTE ]
Revenue Canada doesn't have to prove anything. YOU have to prove you are not a professional gambler. 1) That you have a job other than poker. 2) You have a source of income other than poker. 3) Your primary source of income is NOT poker. 4) Your primary activity in your job is not poker [/ QUOTE ] The term primary source of income pops up quite a bit. Now there's lots of people here that work a full time job, yet they make considerably more from playing poker (ie, those of us that play high limit games), how does that work then? Would your full time profession be deemed your primary source of income and how what will they view your six figure poker winnings as? |
#4
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Re: Canadian Online Poker Tax Thread
"3) Your primary source of income is NOT poker."
Is Primary defined strictly by monetary amount? Or say I work full time at McDonald's and make 15k a year. However, I made 16k at poker during the year. Do I have to pay taxes on poker (assume here poker winning are taxable)? Or is primary perhaps defined by time? |
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