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Old 05-26-2005, 04:22 AM
47outs 47outs is offline
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Join Date: Jun 2003
Posts: 132
Default Re: How is gambling taxed in Canada?

I am familiar with the thread.

The friend of mine has told me stories of audits he has done. One in particular was a professional sports bettor. There is no question that gamblers have been audited before in Canada, but for the time being, poker players need not worry (unless your dragging 100k+, every year).

You say my advice is bad? My advice saying don't worry about the taxes? Show me 3 canadian poker players that have gotten audited, EVER.

Unless there is a major shift of policy and focus by revenue Canada, poker players need not worry about filing taxes.

I cannot explain the situation myself as well as it was explained to me. But he is an expert on it and gave me the advice i have passed on. I would bet that there is noone on this forum who is better qualified than he on the topic, so why do you say his advice is bad?

outs
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