Gambling winnings are not taxable in Canada. Whether it’s a casino or a lottery win, the law is very clear. These amounts are not considered taxable income. The only exception to this rule would be for a person playing a casino game with a reasonable expectation of revenue. What is taxable in Canada is interest from any winnings. Interest from any banked or saved winnings must be declared on a T5 form, and you could be fined for not doing so. Can You Keep All Your Winnings When Playing In A Land-Based Casino? Gambling became legal in 1972 and opened the door to land-based casinos in Canada. In almost all of them, the reason the gambling winnings taxable in Canada verdict was reached was because those winnings were related to his profession. Here are three examples: Dowling v The Queen (1996): Dowling was a golf pro who often also gambled on his golf games, poker games and sporting events. Gambling winnings are not taxable in Canada. Whether it’s a casino or a lottery win, the law is very clear. These amounts are not considered taxable income. The only exception to this rule would be for a person playing a casino game with a reasonable expectation of revenue. There is no gambling winnings tax in Canada if you are a recreational gambler. The Canadian Revenue Agency generally keeps its hands off any money earned through gambling. We use the term “generally” because there are exceptions to the rule. Do Canadians Have To Pay Tax On Gambling Winnings? No - Canadians do not have to pay taxes on gambling winnings from horse racing, sports betting, lotteries, online casinos and any other games of chance. However, if you earn interest on your winnings, you must legally declare that on a T5 form. This interest is taxable.
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