Poker winnings and the Tax man

Going Low

Ok, I have a question for anyone who has experience with this. I apologize if the question already came up on here, I did a quick search but did not see anything.

My question is.... if you play poker on an online site. And let's say you manage to build up to US10K over a year. At the end of the year, you decided you want to pull out your US10K. Is it taxable income?

I would say no.. for the simple reason that lottery winnings, or casino winnings are not taxable in Canada. But in this whole grey area with offshore servers and such, I am just wondering if the Tax man has a right to get a cut of the winnings.

Can anyone confirm this? I am looking for some concrete answers, so please don't reply if you are not 100% sure.

Thanks,

GL

ScottyZ

I am looking for some concrete answers, so please don't reply if you are not 100% sure.

I appologize for replying when I'm not 100% sure; however, I don't believe anyone who was following that directive carefully could ever possibly reply.

If you truly want an accurate and useful answer, an internet forum is not going to be the place to find it. I suggest trying either a lawyer or accountant, possibly one who specializes in tax law. I doubt a legitimate tax lawyer or accountant would (a) give this information out for free or (b) post the information in a public place.

The only other alternative I can think of is contacting the CCRA directly to see if they can help with your question.

Also, there has already been some discussion of this topic on the forum. I did a forum search for the keyword "tax" and came up with several hits, and the most relevant thread seemed to be:

Ask Dave Scharf -> Taxes

ScottyZ

Going Low

Thanks Scotty, will check it out.