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Socks · 10-25-2009, 03:51 PM

Watching the end of the 2008 WSOP main event here, and the last Canadian busted in 5th place for 3.1 mil.

I understand that in Canada lottery and gambling winnings are tax free, while in the USA they're fully taxed. Is this right?

And what about this guy. Since he's a Canadian who won $3m in the USA, does he owe the IRS anything? Does he owe any Canadian taxes?

And if it IS indeed tax free.. Why aren't the Phil Ivey's of the world moving their 'home' to Canada? ;)

10-25-2009, 03:51 PM
Socks Confirmed User Industry Role: Join Date: May 2002 Location: Toronto Posts: 8,475	Question about gambling winnings in Canada Watching the end of the 2008 WSOP main event here, and the last Canadian busted in 5th place for 3.1 mil. I understand that in Canada lottery and gambling winnings are tax free, while in the USA they're fully taxed. Is this right? And what about this guy. Since he's a Canadian who won $3m in the USA, does he owe the IRS anything? Does he owe any Canadian taxes? And if it IS indeed tax free.. Why aren't the Phil Ivey's of the world moving their 'home' to Canada? ;)