Declare winnings?

chucho26chucho26
in General Poker Chat
Hi all,

According to the law, from what I read, we are not supposed to declare winnings related to gamblign unless it is a business or you are a professional gambler.

My question is: If you win let's say 15k in one year, will you declare it? I'm pretty sure we don't hav eto, but I was just asking!

Thanks!

Comments

  • compueasecompuease Admin
    In Canada we don't have to declare lottery winnings.. How did you win 15K?
  • kaipanoulias666kaipanoulias666
    chucho26 wrote: »
    Hi all,

    According to the law, from what I read, we are not supposed to declare winnings related to gamblign unless it is a business or you are a professional gambler.

    My question is: If you win let's say 15k in one year, will you declare it? I'm pretty sure we don't hav eto, but I was just asking!

    Thanks!

    You don't have to declare unless you are a professional player. But even then there have been a few precedents set where professional players could not be proven to be more than just lucky enthusiasts of the game. Revenue Canada has lost cases in court trying to get backed taxes from players who have no other source of income. But if you are working, and poker is just a side thing, do not file it. You will only end up owing more money.
  • compueasecompuease Admin
    Hard to imagine 15K income could be considered "professional" in any case.. One would certainly need a real job in addition. That's not even a subsistence income.

    Also what's eto?
  • chucho26chucho26
    compuease wrote: »
    Hard to imagine 15K income could be considered "professional" in any case.. One would certainly need a real job in addition. That's not even a subsistence income.

    Also what's eto?

    Thanks guys!
  • kaipanoulias666kaipanoulias666
    compuease wrote: »
    Hard to imagine 15K income could be considered "professional" in any case.. One would certainly need a real job in addition. That's not even a subsistence income.

    Also what's eto?

    I think that was a typo. The original post has it as "hav eto" which looks like a misplaced space in "have to".
  • tommyombombtommyombomb
    chucho26 wrote: »
    Hi all,

    My question is: If you win let's say 15k in one year, will you declare it? I'm pretty sure we don't hav eto, but I was just asking!

    Thanks!

    15k isn't professional at anything unless your skills are bad l. Enjoy it. How you scoop the win? Going to Niagara to get a slice of the pie
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