Are gambling winnings taxable in Canada?

Are gambling winnings taxable in Canada?


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Gambling winnings are not taxable. It also follows that there are no gambling losses taxes! Regardless if you are playing in an online or land-based casino, you can expect that your winnings will be tax-exempt. Even lottery winnings, big or small, are tax-free! If you are a professional gambler, however, it is a different story. This means that gambling is your way of living, which is like a business, and hence, you need to pay the right taxes.Now that you know that gambling winnings are tax-free, it's time to learn the nuances of taxation gambling winnings: