Quote:
Originally Posted by cassette
The ruling is already 100% clear and you should be paying taxes.
Where the heck are you getting that from? The CRA guidelines are pretty clear that it is a judgement call based on:
a) amount and frequency of bets
b) intent on playing for profit/livelihood
c) use of special knowledge or inside info
d) amount of organization
They specifically say that no one factor can determine it and that it is all of the facts that must be considered. Since no actual guidelines are out there to determine where the threshold lies, I don't see how it is clear at all. In my mind they purposely made it unclear so there is no way it can possibly be 100% clear.
For example, the "sportsline guys" (LeBlancs? I can't remember) made a ton of bets, intended to play for a living and had an incredible amount of organization. They did not have special knowledge. They strongly fit 3 of the 4 criteria. They did not have to pay tax.
I make a ton of bets on poker, intend to play for a living, have no special knowledge (imo) and little organization. I strongly fit 2 criteria and weakly fit 1. Therefore I fit the criteria to pay even less than the "sportsline guys" do/did. Therefore I will not pay until the law is clarified.