Here is a table that shows tax status for both recreational and professional gamblers.
Form of Gambling |
Tax Status for Recreational Gamblers |
Tax Status for Professional Gamblers |
There is no gambling winnings tax in Canada if you are a recreational gambler. The Canadian Revenue Agency generally keeps its hands off any money earned through gambling. We use the term “generally” because there are exceptions to the rule. In the eyes of the taxman, gamblers are divided into two groups:
Here is a table that shows tax status for both recreational and professional gamblers.
Form of Gambling |
Tax Status for Recreational Gamblers |
Tax Status for Professional Gamblers |