Do you actually pay tax on casino winnings in Canada?
Had a good month for once and now I have that low grade dread that the CRA is going to want a word. Every site says "gambling winnings aren't taxable in canada" and I don't trust a single one of them because they're all trying to sell me something. What's the actual answer? And does it change if you play a lot?
8 comments
25 views
genuinely one of about four good things about living in this country
Quebec here, got the same answer from a local comptable. Cest federal, not provincial
where it gets spicy is offshore, because the money still has to land in a canadian bank account and big transfers get looked at, its not a tax problem its a paperwork problem.
@HalifaxHits In Canada, gambling winnings are generally treated differently from regular employment income, although frequent or professional gambling can raise more complicated tax questions. If you play often or win substantial amounts, it is worth checking the specific CRA rules that apply to your situation.
The actual line is whether you're running it like a business. Systematic, full time, it's your livelihood. That's a completely different conversation and almost nobody on this forum is in that bucket, myself very much included
Asked my accountant. She said "if it's a hobby, no, now stop emailing me"