Originally Posted by YouSureSir
Well if this gets serious we should pool money to fight it. There are honestly so many negative implecations from poker people don't realize that personally I think it should not be taxed. Coming from a biased perspective.
I am not sure if there is even a "this" to speak of. The original claims seems to have been watered down from CRA is contacting a significant number of poker pros in Quebec to 2 or 3 people got contacted.
Self-interest is a terrible thing to base tax policy on. Tax policy has to be based on first principles. Long time since I've given it any thought but I would say taxing professional gambling income is justified if taxation is justified. The second part is what allows me to not pay taxes.
As for fighting "this" there is nothing to fight. The law is absolutely clear. The only reason case outcomes don't match what the law requires is a mathematically challenged judiciary and that public servants are generally idiots. This is not something that can be won on a macro level. Spending money will allow individuals to win individual cases but the only way to change this across the board would be to change the tax code.
If I was going to spend money on this it would be to try to find a way to create a structure to making gambling income tax free. I'm not sure if that is possible but it has a better chance of success. I used to think about stuff like that but then I got distracted by trying to think about ways to exploit the TFSA.
On a side note, anyone think this thread is counter productive in that any decent crown lawyer would come across it?
Involvement in this topic would make an argument that lack of declaring the poker income as income was based on honest mistake harder but not in a significant way.
Lastly, henry big question, you are very knowledgable and contributive, but dont come across as someone that plays, so i'm wondering in what benefit you achieve from this thread. Just curious, you seem very informed and educated on said maters
I used to play live poker but never really managed to transition to online nor keep up with changes in the game. Poker is not the only form of gambling where you can have an advantage and be profitable -- so while this discussion may be about the taxation of poker winnings it would be of interest to any person who gambles significantly in Canada.
Further, I have an LLB and I've been around gambling my entire adult life. This topic is going to come up and given there are at most a dozen significant cases it isn't a complicated subject to be knowledgeable on.
Lastly, you don't need to personally benefit from a subject to be an expert on it. I'm probably the most knowledgeable person on the Amanda Kn.ox trial and when we ran a script on the OOT discussion I'd written over 1/2 million words on the subject. I don't know the victim, the killers, or anyone associated with the murder trial nor do I have any interest in ever having a roommate let alone stabbing one.