Straight Flush
Join Date: Sep 2006
Location: Toronto'ish
Posts: 4,611
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Thanks for the tax advice Daven/Frisky
Yah I'll definitely have to look into a tax lawyer at some point soon. I'm sure Alex and I will make some lame propbet about who can find one the fastest or something :P
Daven - as for Canada having clear laws. Well I think there is a clear law that states "windfall earnings are NOT taxable"... "expected earnings are taxable". So the grey area arises, as to whether or not the poker earnings are windfall or not. If I show them a graph for my 2008, with the most ridiculous swings ever, they would be hard pressed to convince someone that it definitely was NOT windfall....
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