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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