So let's say you win the jackpot...

[Gutzz]

Hey,

Well in canada they do not tax you if you say poker is a hobby. Which's nice .

BUT, if you make more than 10k a year off poker, then they do not believe that that is a hobby anymore; since it's a large percentage of most's annual incomes and is a fairly large sum for most .

So if you only have poker income, then they'll tax you up the yin... Which's much worse than the tax you Americans pay.

As for me... I don't even play the BBJ limits yet, so no point thinking about what i'd do with this 'problem'.

Cheers,

Gutzz

[ChipFish]

A one time jackpot is not an income under Canadian Tax law.
If a Canadian hits the Jackpot it's tax free. (assuming they are not already claiming their poker earnings as income.... then they have to claim.)

[Gutzz]

Ah yes, I forgot about this, I was thinking poker earnings .! Like the lottery right?

Although this does remind me of something I saw in a movie (and movies are never wrong, right?)... Shawshank Redemption, guy inherits 32k or something like that, and a prisoner tells him there's a way he can avoid paying that, by giving it to his wife... Great great movie .

Cheers

Gutzz