Originally Posted by pkallday2
Sounds like the Radonjic case is good news, wondering if someone could answer a few questions regarding my particular situation.
I have been playing poker since 2005. I was full-time university 2005-2009 so I didn't pay taxes. In 2010, I played full-time, and ended up payin ~20k in taxes after deductions. My tax bill caught me off guard, and I had a really tough time rebuilding in 2011...In 2012 I looked for some part time work, and played on the side. So I paid for 2010, but not 2011 and 2012.
This past year (2013) I made a significant amount. Right now I'm leaning towards not paying.
1) All things considered, would it be reasonable to avoid paying for 2013
2) Given the new precedent set by the Radonjic case, would it be reasonable to expect not pay moving fowards?
3) Would it be worth it to look at trying to reclaim the ~20k I paid in 2010? It could be quite a hassle, but 20 thou is a lot of money.
4) I have no other sources of income, or investments. If I were to not pay taxes on poker, what would I file in my tax return? Nothing?
Thanks to all who have contributed here, very good job guys!
Poker winnings are not taxable. It could not be any clearer. In fact, it can only get worse going forward, so I urge everyone to get their money back from the CRA ASAP.
Note I am not a lawyer or tax professional and I am not giving legal or tax advice, so consult your professionals.
Source: I am the dude in the case you mention.