Someone on 2p2 mentioned you don't have to pay tax on online gambling in BC, any truth to that? Struck me as likely a false statement since i've never heard anything like it before.
Also, I've been doing freelance graphic design on my own for 11 yrs before turning pro in September 2009. I've always declared less income than I actually made, but how long can I get away with it when I pull in 6 figures a year from poker? I could just keep declaring less income as a graphic designer but what could alert the CRA something is up? Buying a house with a lot of money down? Lots of big transactions in a bank account? Would opening a bank account overseas to put my poker money in be considered fraud in itself? If they come knockin and asking about the money could I just say i won a couple of MTTs with luck? Would I have to prove it and if so, how?
thanks