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Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 2860
Experience:  18+ years of experience in tax preparation; 25+ years of experience as a real estate/corporate paralegal.
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I am residing in Quebec, Canada and citizen of India. I

Customer Question

I am residing in Quebec, Canada and citizen of India.
I do online sports betting at Bet365.com, which is based outside of Canada. I want to know couple of things:
1. Is it legal in Quebec,Canada to do online sports betting with Bookie not based in Canada.?
2. Do I have to pay tax on the earnings from Bet365.com on Sports betting.?
3. How to declare that I have income from online supports betting?
4. I have income from another full-time job, I want to know about what will happen? Is there no TAX on my betting income and there is tax just on full time job income? Or income from both sources will get combined and taxed? I mean will the slab will increase?
Submitted: 8 months ago.
Category: Tax
Customer: replied 8 months ago.
Please provide answers related to the law about online supports betting and Tax related queries.Also, how to ask follow up questions?
Expert:  Barbara replied 8 months ago.
Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.Your question came in through the tax category, and I will answer the tax aspect of your question. As to the legal aspect, you will need to post that part of the question in the legal category.As to any tax liability for the gambling winnings, an individual’s gambling activities may result in taxable business income or a business loss. This will be the case if the gambling activities constitute a source of income (that is, carrying on the business of gambling).http://www.cra-arc.gc.ca/tx/tchncl/ncmtx/fls/s3/f9/s3-f9-c1-eng.html#N1032FPlease let me know if I can assist you further.Thank you and best regards,Barb
Expert:  Barbara replied 8 months ago.
Just following up with you to see if you have any other questions or concerns. If so, please come back to me here, and I will be happy to assist you.Best regards,Barb