Q: Are gambling winnings taxable in Quebec?
I have made money with online sports betting
A:
In Quebec, like in other parts of Canada, the taxation of gambling winnings, including those from online sports betting, largely depends on the nature of the activity. If gambling is not conducted as a business activity or as a primary source of income, generally, the winnings are not taxed. Most recreational gamblers fall under this category.
However, if you pursue gambling in a systematic and professional manner, where it constitutes a significant source of income or your primary livelihood, the Canada Revenue Agency (CRA) may consider your winnings as taxable income. This is more common for professional poker players or individuals who make a living from gambling activities.
It's advisable to maintain records of your gambling activities, including wins and losses, as this information can be helpful in determining your tax obligations. If you're unsure about your specific situation, consulting with a tax advisor could provide clarity and ensure you comply with all relevant tax laws and regulations in Quebec.
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