First the good news Unlike the United States, where income from lottery and gambling winnings are taxable, gambling and lottery proceeds in Canada are not subject to tax. This is to say that the average person cannot be compelled to share their winnings with the government. Now the bad news since Canadian taxation is based on source income if you are a professional gambler you could be forced to share the wealth with Canada.
The best way to avoid being labeled a professional gambler is to not help the government labels you one. To accomplish this do not declare yourself a professional gambler when opening your bank account. When asked to list a profession state that you are retired. If necessary (and possible) be prepared to show bank statements or other private accounts that would prove that you are not dependent on the gambling income.
I am not an accountant or a lawyer anyone wanting more information on tax laws in Canada should consult an attorney, accountant or revenue Canada. No taxes, low rents, beautiful women, great food…. What are you waiting for Montreal is waiting for you.
As always for more information about moving to Montreal or anything Montreal please contact Franklin at MontrealFranklinM@Gmail.com
.
No comments:
Post a Comment