Re: How is gambling taxed in Canada?
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).
Q1. Did the pro sportsbettor have to pay taxes?
Q2. If it's not taxable, why would I suddenly have to worry if I'm over 100K a year for the last two years?
Unless there is a major shift of policy and focus by revenue Canada, poker players need not worry about filing taxes.
Are you suggesting: It is not that pro gambling is not taxable, but rather at this time, CRA does not consider auditing poker players to be efficient? Thus, they are not actively enforcing this matter? Kind of like easily getting away with not declaring tips as income 25+ years ago?
|