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Taxes for Canadians at wsop

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05-22-2023 , 02:51 PM

Hghs

stranger

Join Date: Mar 2023 Posts: 3

At what level of earning do we pay taxes at? I’ve seen a few different numbers being thrown around. Looking for someone who’s experienced this.
Really just wondering cause there’s no point playing satellites if $1000 / 2000 is getting taxed at 30 percent.

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05-22-2023 , 03:20 PM

Dr. Meh

veteran

Join Date: Aug 2013 Posts: 3,351

I don’t know the answer as I’m not Canadian but I don’t think satellites are taxed since you’re not winning a cash payout.

I could be wrong, though.

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05-23-2023 , 02:25 AM

9hilikeabos

adept

Join Date: Jun 2017 Posts: 743

If you won a single table satty you always had to fill out tax paperwork. Not sure about the multi table sattys tho. Also RIP single table sattys

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05-23-2023 , 09:00 AM

Dr. Meh

veteran

Join Date: Aug 2013 Posts: 3,351

Quote:

Originally Posted by 9hilikeabos

If you won a single table satty you always had to fill out tax paperwork. Not sure about the multi table sattys tho. Also RIP single table sattys

I’ve won several single table satellites and the only paperwork was basically an ID check before giving you lammers.

Unless you’re talking about different satellites.

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06-06-2023 , 07:28 PM

PiquetteAces

grinder

Join Date: Sep 2002 Posts: 649

For canadians at Harrahs / WSOP , for poker

its 30% if the profit is 5000 or more. ( actually could be 5001 or more , not sure )

they dont care if u have 100k losses in other mtts previously

they dont care if u have fired a zillion bullet in a 1k event .

They have different rulings about the 5000$ for other casino games , such as table games, slots or sportbets .

other casinos have other rules ... for exemple , i was taxed 88$ on this one 14 years ago lol

too, i know someone who got taxed after he bullseyed a spread in NFL.

-jpp

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