Do you play any online games?

[oktawa]

Sometimes when you are dead bored i would go to some random sites to play games. The recent one I've been playing is this game called redvsblue. Okay it might be by xbox and the main theme is halo, but still its a sound game when you are waiting or inside a lecture. Plus it also says they give money to charity to everytime you play!

[sillywilly]

poker (not for money), scrabble and chess

[Ginker]

I play online poker..

[sillywilly]

lance do you play on facebook as well? Its free and its not for money... so probably not LOL

[Ginker]

I play at fulltilt

[sillywilly]

if you win a lot do you have to declare it on your income?

[Ginker]

That I do not.. I am small time.

[mpare]

I play Links 2003 on-line. As well, I play poker, but not for real cash. That is reserved for real games on the links!

[3putt]

I play online poker (for money). I usually play on Pokerstars

I don't think you have to declare your poker winnings as income in Canada.

[SGH]

You only have to declare your poker (or gambling in general) winnings as income if it is your primary source of income (i.e. you're a professional and gambling is your 'job').

A guy like Daniel Negranu (sp?) for instance would likely have declare his winnings.

[Fallys0820]

hehe...I've hashed this out before. I won't tell you where I work, but we've debated this at work as well.

The above poster was essentially correct. My interpretation is that you have to consider yourself a professional. Professional by "pro poker player" standards.

For example, as the previous poster mentioned, you could earn $40k in your job, but get lucky in a few satellites and get into a $200k guaranteed tourney. This would probably see about a 60-65k first prize. If you win, that would be your primary source of income. Hell, you may do that a few times in a year racking up about $100k.

How are you determined to be a pro? I dont' know. I remember hearing something about it once, and it has to do with sustainability in your lifestyle. If you're starving yourself and you don't have a job and you're bringing in $250/wk, you're not a pro and it's not professional income.

Should you declare it? Well, you're not taxed on lottery and gambling winnings in Canada. If it's professional income, yes, and you can deduct your expenses against the professional income.

I wouldn't worry about the CRA coming after small timers yet. I imagine as it becomes more popular that you will have to. Look at it this way, you should arguably be declaring income from a yard sale lol.

Fallys