Quote:
Originally Posted by akashenk
I wouldn’t say I am anywhere near an expert in Canadian tax law, but I do find it interesting how it’s basically the opposite of how things
work in the U.S. with regard to gambling. No tax on winnings, unless you are a professional gambler. And folks who take gambling (or poker for instance) seriously by tracking results closely, developing skills, etc are more likely to be deemed professional gamblers and subject to income tax.
Even if you are a professional poker player in Canada, there are still very little precedents of players having lost to the CRA in court. Only one, in fact, last year but he is fighting it in higher courts. If Jonathan Duhamel won his case in appeal (he had lost in lower courts), imagine how little success the CRA will have moving forward with such a (counter) judicial precedent... In fact, about 10-11 years ago, when (the name escapes me...) won against the CRA and forced the latter to pay back his taxes, a myriad of pros asked to get refunded what they had paid... and did
Nowadays, you will not find an accountant that will suggest that you should pay taxes on your poker winnings. So yeah, much different than USA
land of the fee
edit : I was about to forget, but yeah, getting that 30% back is mostly a time hassle (within 2-3 years, usually) and a bit of fees (better to use a company specialized in doing exactly this), but just another nuisance, you know!!!