Two Plus Two Older Archives  

Go Back   Two Plus Two Older Archives > Internet Gambling > Internet Gambling
FAQ Community Calendar Today's Posts Search

 
 
Thread Tools Display Modes
Prev Previous Post   Next Post Next
  #1  
Old 07-11-2005, 09:59 PM
QBert QBert is offline
Senior Member
 
Join Date: Apr 2005
Posts: 102
Default Tax Law in Canada

Hi, I am a semi-professional living in Canada and I'm starting to wonder about the tax laws here given that in another year poker may be my sole source of income. Does anyone know what the law says about paying tax on gambling winnings in Canada and, does anyone have experience paying/not paying taxes on their winnings? I know you must report it in the US but I am under the impression that in Canada you need report it only if it is your sole source of income. Also, how do you provide supporting documentation? Bank statements? Poker cashout records? It all seems really bizarre to me that I would pay taxes on poker (I already pay a bloody lot in rake) but I've heard it is becoming an issue and laws are being passed. I would hate to face a tax evasion charge (it's basically worse than a murder charge from what I hear). Thanks.
Reply With Quote
 


Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -4. The time now is 04:51 AM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.