Join Date: Jan 2016
Posts: 7
So I've been unemployed for 2 years now, been living off my savings.
I've had absolutely no income this entire year.
Also aware than any incoming/outgoing EFT/Wire over $10k in Canada, is reported to the revenue Canada.
My question, is if I were to win, say, $20k in an online MTT, is this taxable income in my case? I do not play professionally, haven't even withdrawn a single dollar this entire year from any poker site, but I also do not have an income. Would this win be considered taxable income, due to it being my only income for the year? Or does the 'if gambling is conducted like a business' statement from revenue Canada apply, and I don't get taxed because I'm not a pro?
