Poker Winnings Not Taxable!
Great news for anybody who wins at poker.
- A recent Canadian tax court case confirmed that an online poker player’s winnings were not subject to Canadian income tax.
:wav: "cheers: :blob"
- If you know a poker player who wants to reverse the taxes they voluntarily and incorrectly paid on their past poker winnings, you should forward them a copy of this article.
- It is difficult to imagine how the government would be able to demonstrate that a poker player is a professional without relying on any of these considerations.
- A recent Canadian tax court case confirmed that an online poker player’s winnings were not subject to Canadian income tax.
:wav: "cheers: :blob"
- If you know a poker player who wants to reverse the taxes they voluntarily and incorrectly paid on their past poker winnings, you should forward them a copy of this article.
- It is difficult to imagine how the government would be able to demonstrate that a poker player is a professional without relying on any of these considerations.
Comments
The case centered on whether his online poker activities were a business established for the purpose of making a profit.
Pretty sure that the CRA could at least put forward a compelling argument that his investments in his game were designed to help him win (turn a profit).
So instead of calling ourselves "semi-pro," you, GTA_Poker, The_Game and I can "throw everything away" and go pro!
https://www.youtube.com/watch?v=RwEIjbfOHD0
Yea me also, I never even considered paying a tax or even recording anything long term over the years, I just assumed I didn't have to.
I believe they are talking about claims for income tax. Pokerstars would not be keeping money back for taxes.
lmao