POKER

Taxman tells Canadian poker players how it will be

TAGs: Canadian Poker Players, tax law

ZenKoanThat’s one for you, 19 for me… The taxman has confronted Canadian poker players with something of a Zen koan, namely, at what point does one’s poker game turn from recreation into a business? When it’s your primary source of income? When you hit a lucky streak that temporarily exceeds your ‘day job’ earnings? What if your losses exceed your winnings – can you deduct those? There are no clear answers to these questions, but that doesn’t mean Canadian law enforcement officials won’t put you in jail for getting them wrong. What is the sound of one hand slapping your forehead? Read more.

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