QBert
07-11-2005, 09:59 PM
Hi, I am a semi-professional living in Canada and I'm starting to wonder about the tax laws here given that in another year poker may be my sole source of income. Does anyone know what the law says about paying tax on gambling winnings in Canada and, does anyone have experience paying/not paying taxes on their winnings? I know you must report it in the US but I am under the impression that in Canada you need report it only if it is your sole source of income. Also, how do you provide supporting documentation? Bank statements? Poker cashout records? It all seems really bizarre to me that I would pay taxes on poker (I already pay a bloody lot in rake) but I've heard it is becoming an issue and laws are being passed. I would hate to face a tax evasion charge (it's basically worse than a murder charge from what I hear). Thanks.