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Old 06-20-2014, 02:29 PM   #2501
Henry17
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Re: Canadian Online Poker Tax Thread

That does seem like a good turn of events for QC players but unless other provinces follow it would be a negative signal for the rest of the country.

Also the kind of deal is going to be important -- a flat fee or a model based on revenue sharing of QC player rake would be the desired outcome. If the deal involves segregating players it will still be pretty bad.
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Old 06-20-2014, 02:32 PM   #2502
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Re: Canadian Online Poker Tax Thread

Its interesting that Amaya already owns other poker networks and allows them to operate in Canada while other companies like GTech and I believe even Bodog pulled out of the Canadian market, so it bodes well in that regard. On the other hand the huge sums of dollars involved specifically with PokerStars may awaken the beast and force them onto an ulterior path.

I guarantee they won't risk alienating themselves from the US market over the Canadian market though, so if there is even the hint of legal issues I would expect that popup box saying "sorry, pokerstars is no longer available in your country..."
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Old 06-20-2014, 09:51 PM   #2503
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Re: Canadian Online Poker Tax Thread

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Originally Posted by Henry17 View Post
That does seem like a good turn of events for QC players but unless other provinces follow it would be a negative signal for the rest of the country.

Also the kind of deal is going to be important -- a flat fee or a model based on revenue sharing of QC player rake would be the desired outcome. If the deal involves segregating players it will still be pretty bad.
I suspect there will be some temptation in many provinces to follow the approach given that it is essentially an easy button to a lot of revenue, compared to for instance Ontario's very long approach to eventually maybe have a product they need to actively manage, likely with horrid software, and much fewer players, and lower expected revenue.

Governments do not always act quickly or in a smart manner, but they do like relatively painless sources of revenue.

Time will tell, but it is interesting to see that there may be a logical approach that is actually win/win.
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Old 06-22-2014, 05:31 PM   #2504
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Re: Canadian Online Poker Tax Thread

I don't have the time to read this entire thread, so can someone give me a quick cliffs on the tax situation in Canada for online poker?
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Old 06-22-2014, 10:58 PM   #2505
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Re: Canadian Online Poker Tax Thread

Someone asked for that 20 posts ago......
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Old 06-22-2014, 11:41 PM   #2506
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Re: Canadian Online Poker Tax Thread

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I think the article ignores that size of the acquisition and how that impacts both appetite for risk and risk itself.

It also equates the facilitating of gambling with actually running a gambling operation and while both are covered by the CC I don't think they are viewed the same way.

I read the article a couple of days ago but if I remember correctly it doesn't even touch on Amaya's supposed plan to add a casino and sportsbook. I guess they could just not offer those additions to Canadians but adding a casino and sportsbook increases the odds they pull out of Canada by a lot.
What about 888? They have all of that and offer it to Canadians.
On line Casino and Sports Bet.
Party Poker also has an on line casino that Canadians can play on.
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Old 06-23-2014, 02:36 AM   #2507
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Re: Canadian Online Poker Tax Thread

Those sites aren't based in Canada so they don't have to worry about the stuff that Amaya is going to have to potentially deal with.
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Old 06-23-2014, 03:50 AM   #2508
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Who cares. Move this stars crap out of the tax thread. If stars cancels out canada then so be it.
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Old 07-02-2014, 10:17 PM   #2509
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Re: Canadian Online Poker Tax Thread

Based on this press release I'm of the opinion that Stars and Full Tilt will not continue to operate as Stars. The best outcome appears to be ending up with a Canada segregated site but realistically segregated by province seems more likely at least at first.

http://www.onlinepokerreport.com/128...on-transcript/
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Old 07-02-2014, 10:38 PM   #2510
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Re: Canadian Online Poker Tax Thread

Quote:
Originally Posted by Henry17 View Post
Based on this press release I'm of the opinion that Stars and Full Tilt will not continue to operate as Stars. The best outcome appears to be ending up with a Canada segregated site but realistically segregated by province seems more likely at least at first.

http://www.onlinepokerreport.com/128...on-transcript/
whats so bad about the press release?
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Old 07-02-2014, 10:43 PM   #2511
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Re: Canadian Online Poker Tax Thread

I couldn't remember my own phone number earlier tonight but doesn't it say that they will be seeking licences in Canada (which is also what the previous article said they were negotiating with QC for a licence). If they go the licenced route then the players will almost certainly be segregated either by province or maybe Canada wide.
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Old 07-02-2014, 10:48 PM   #2512
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Re: Canadian Online Poker Tax Thread

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Originally Posted by Henry17 View Post
I couldn't remember my own phone number earlier tonight but doesn't it say that they will be seeking licences in Canada (which is also what the previous article said they were negotiating with QC for a licence). If they go the licenced route then the players will almost certainly be segregated either by province or maybe Canada wide.
Ok, thank you for your insight Henry, you have been very helpful itt
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Old 07-23-2014, 05:15 PM   #2513
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Re: Canadian Online Poker Tax Thread

What are the Canadian tax implications for a Canadian non poker professional (no income really from gambling or poker) receiving a piece of an American and having to fill out this :

http://www.irs.gov/pub/irs-pdf/fw8ben.pdf

The winnings are under 5k and not subject to US withholding but I'm curious if this would be treated as gambling and not required to be filed in Canada or as a foreign investment? Any help or link would be greatly appreciated. I searched the net and tried in this thread but couldn't find anything yet.
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Old 07-23-2014, 05:35 PM   #2514
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Re: Canadian Online Poker Tax Thread

It is actually the same as with gambling. If you stake a lot of people and basically run it like a business then it is taxable income from a business. If you just stake a friend or someone on a whim then it is a hobby and not income.
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Old 07-24-2014, 03:07 AM   #2515
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Re: Canadian Online Poker Tax Thread

Much appreciated, anybody have info about if you need to get a tax id number from the US?
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Old 09-03-2014, 04:26 PM   #2516
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Re: Canadian Online Poker Tax Thread

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Originally Posted by TheFunBegins View Post
Has anyone else filed an adjustment or is planning on filing an adjustment due to the Radonjic case?
Quote:
Originally Posted by hdskate View Post
I'll be filing an adjustment, hopefully by next week. My case is similar to the Radonjic case, and in my opinion, even more in my favor. I too claimed the income to play it safe. I only claimed for 3 years, my winnings were much lower, and I'm still within the 3 year cutoff for filing an adjustment for my final year of playing.

I burnt out on poker by the end, my bankroll dwindling as I played poorly through a downswing, and was left with roughly 10k in taxes to pay. I had no source of income to pay off the taxes owing. I still owe the majority of it. It'd be nice to have that cleared up, as it's been a major source of stress over the past several years.

Does anyone know of someone that could help advise me? I can't afford a lawyer or accountant at this point as I'm close to bankruptcy.
Refunded!!!

Partially, at least. I received a 4 figure cheque today following an adjustment to my 2010 income. In May I mailed in an adjustment request, copies of my bank & Moneybookers statements (with appropriate transactions highlighted for their convenience), a letter explaining that I had made a mistake and wrongfully filed, and a copy of the Radonjic case. Today I received a notice of adjustment and a cheque.

I did not have a lawyer. I did not have to go to court, or even talk to anyone. Just followed their adjustment form and included my reason for adjustment.

I now plan to file an adjustment for 2009 and 2008, which should get me another few thousand back.

Thanks Peter for your advice and support, and to those that guided Peter through his case. A major chunk of a 4 year burden has been lifted for me.

Last edited by hdskate; 09-03-2014 at 04:28 PM. Reason: Forgot to mention bank and moneybookers statements
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Old 09-04-2014, 02:57 AM   #2517
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Re: Canadian Online Poker Tax Thread

if I understand correctly, you were a canadian paying taxes on your poker winnings for the last few years and now,after requesting refund for those payed taxes, the gov has accepted your request without much hassle?

if so, this confirm pretty much poker isnt taxable in canada.
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Old 09-04-2014, 06:55 PM   #2518
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Re: Canadian Online Poker Tax Thread

You understood correctly.

There is a mention in the reassessment I received that says they may review it further. For now, things look good.
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Old 09-05-2014, 04:12 PM   #2519
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Re: Canadian Online Poker Tax Thread

You are welcome hdskate!

I am absolutely overjoyed that they choose not to waste taxpayer money dragging you through the multi-year process like they did with me.



Hopefully the good news will keep on rolling in - I've personally know of a ~dozen players who are at some point in the process.
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Old 09-05-2014, 04:25 PM   #2520
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Re: Canadian Online Poker Tax Thread

good to hear
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Old 09-08-2014, 09:19 AM   #2521
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Re: Canadian Online Poker Tax Thread

I have a question for the lawyers in here, do revenu quebec make their own laws or do they have to follow the rest of the canada into what is taxable and what isnt?
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Old 09-08-2014, 04:34 PM   #2522
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Re: Canadian Online Poker Tax Thread

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You are welcome hdskate!

I am absolutely overjoyed that they choose not to waste taxpayer money dragging you through the multi-year process like they did with me.



Hopefully the good news will keep on rolling in - I've personally know of a ~dozen players who are at some point in the process.
Could you keep us updated once a decision is made whether CRA accepts, or rejects the adjustments?
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Old 09-09-2014, 09:04 PM   #2523
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Re: Canadian Online Poker Tax Thread

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Could you keep us updated once a decision is made whether CRA accepts, or rejects the adjustments?
Uh, I guess you missed it, but I won. They accepted the Adjustments, and cut me a cheque. Case is closed.
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Old 09-10-2014, 01:04 AM   #2524
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Re: Canadian Online Poker Tax Thread

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Uh, I guess you missed it, but I won. They accepted the Adjustments, and cut me a cheque. Case is closed.
I think he meant the 'other 12' you know going through the process...
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Old 09-10-2014, 11:02 AM   #2525
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Re: Canadian Online Poker Tax Thread

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I think he meant the 'other 12' you know going through the process...
Ahhhh I see
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