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The official registry and record keeping body for the Canadian standardbred industry. TROT Magazine, news, and entries and results.

This rendered gambling the largest entertainment industry in Canada. For this reason, taxpayers should understand how gambling income and losses are taxed, according to Canadian law under the Income Tax Act of Canada. So, for example, income from a Nobel or literary prize would not be taxed but income from Olympic athletic competitions are taxable. As of yet, however, no judicial decisions have confirmed that.

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Much can be learned by the cases that followed. The first case to test this rule was the Stewart case which revolved around an experienced real estate investor, Brian Stewart, who borrowed large sums of money to purchase four condominium units as rental properties. Owing to unfavourable economic circumstances his rental income was less than had been projected. Casino tax canada is gambling undertaken as a personal endeavor and when is it a pursuit of profit?

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