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Old 11-05-2005, 02:34 AM
Peter666 Peter666 is offline
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Join Date: Jun 2005
Posts: 346
Default Re: Paying taxes on Poker Winnings...

Fortunately your accountants are not the CRA (Canada Revenue Agency). They have deemed all gambling winnings as non taxable. The "profession" of poker lies in a grey area between hobby and regular income generating activity. Because online poker itself is illegal in Canada, you should not be paying taxes. I doubt drug dealers do.

A Canadian here in a family court case had to inquire about this to the CRA, and they gave him the all clear. His sole income is poker as well.

The McGuinty government in Ontario considered taxing gambling winnings last year but did not because the casinos (which are owned and run by the government) were deemed to be income producers in and of themselves. If it was all privatized, we would probably be paying taxes on our poker income right now.

It is specifically written in the Canadian tax code that a professional BlackJack player is tax exempt. (I believe this was an issue in the early 80's).

You have absolutely no reason to pay income tax. Even if this is considered your "profession" you are in the clear. I have met many accountants in my line of work and am not surprised that they gave you bad advice. If possible, try to do your taxes on your own. Ask the CRA directly if you have questions.
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