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Old 05-26-2005, 06:29 AM
47outs 47outs is offline
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Join Date: Jun 2003
Posts: 132
Default Re: How is gambling taxed in Canada?

[ QUOTE ]

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?

[/ QUOTE ]

You have summed it up well.

The efficiency part of it all has to do with so many things. I was explained a portion of what would have to be done to successfully audit a poker player. The 100k figure was an example he used in describing my specific situation (and his). As I am not close to this figure annually, 100k helped put things into perspective for myself. I'm sure this figure has no relevance or legal weight, just an example.

outs
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