How is gambling taxed in Canada?

teddyFBI · #1 05-27-2005, 08:38 AM

[ QUOTE ]
Gambling is tax free if it is considered a windfall.
If there is an expectation of profit it is taxable.
Now everyone hopes they will win when they gamble but if you play regularly and the primary reason you play is because you do win consistently then i would say it is taxable.

[/ QUOTE ]

correct.

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