Canadian gambling tax laws?
I found this thread: The 2+2 Forum Archives: Canadian Online Poker Tax Thread
over at 2p2 but to be honest there's just too much information there, and I'm an incredibly slow reader on top of it.
Anybody know what the actual laws are? From that thread it sounds like if your gambling winnings were earned in any manner that indicates you were 'expecting' them (ie I 'know' I'm a winning player), then they're taxable, otherwise they're considered 'windfall', like a lottery ticket. I always thought whether or not it was taxable was related to how much you made, ie if you cracked 20k in a year then it would be considered your job, and you'd have to be taxed. I'm clueless, please help
I'm getting a little worried because I'm actually making enough now that my bank might notice and report me which is obviously no good.