However, whatever game you choose to play and whether you're a professional or not, it's still important to gamble responsibly. You’ll need to report any interest from gambling winnings on your tax return, but any interest that totals over $50 will require you to fill in a T5 slip (or 'Statement of Investment Income'.)Īll other gambling profits are free from tax. The second is if you earn interest on your recreational gambling winnings. The first is if the government considers you a professional gambler whose profits result from a business-like operation. There are only two occasions when you would need to pay tax on online gambling winnings. Even the lottery is tax-free in Canada, so residents have the potential to win millions and keep the lot. This exemption stands no matter how much you win, which games you win on, or whether you win at a land-based or online casino. Paragraph 40(2)(f) of the Income Tax Act states that you won't need to pay income tax on your casino winnings unless you are a professional gambler. In most cases, no, you don't have to pay taxes on any winnings. Do I have to pay tax on my casino winnings?
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