Quote:
Originally Posted by TaxGuru
Staking is harder to defend on the case law because unlike gambling itself, it does not have the same "personal" element to it. In other words, it is arguable that staking is more like investing in a really speculative market than it is like playing poker. On the other hand, one might well try to resist that characterization by arguing that staking is itself a form of gambling (and for that reason has a similar "personal" element to it). I am not sure that I find this counter-argument convincing, though it is plausible that a good lawyer could convince a judge of its merit.
Is this your stance towards all sorts of staking , or long term staking?
if someone randomly bought a piece of a friend and won some money , is that taxable ? or does it also fall under the gambling section since it is done rarely?
what about some people who swap percentages in tournaments or something along those lines?
i of course understand that someone who has a whole stable would more likely to be looked at as an actual investor with long term expectations ,but i am curious how a short term investor who is practically just " gambling " would be perceived.