Jonathan Duhamel raised $ 18.2 million in live tournament revenue during his poker career thanks to his outstanding poker skills. He couldn’t say that to the Canadian government.
A report from The Canadian stated that tax authorities were pursuing $ 1.2 million in tax returns from Quebec natives, who won the World Series of Poker main event in 2010 for $ 8.9 million. Most Canadian poker players have the luxury of saving their entire winnings because under Canadian tax laws, income from games of chance is not taxed.
While poker is generally classified as a game of chance, the Canadian Revenue Agency claims Duhamel owed the government money won from poker tournaments between 2010-2012 because Duhamel operated as a business. If CRA wins the case, it could be very painful for the three-time WSOP bracelet winner as Revenu Quebec can then pursue a case and force Duhamel to pay another $ 2.4 million.
The CRA cited Duhamel’s former sponsor with PokerStars, which is worth $ 1 million consisting of $ 480,000 in cash and $ 520,000 in buy-in tournaments, the fact he has had an agent since 2010, his “hedge operations” are more frequently referred to in the world. poker as “the act of trading” with other poker players, and the fact that Temanpoker was his only source of income apart from his investment, is why it should be considered a business.
10 top site :