Win Bonus of 39% - what would you do?

[NorthernBJ]

What if you got a win bonus of 39% Would you approach the game differently?

First this only applies to Canadians as we operate under a different tax system, but to answer my question you need a little background information.

• Gambling winning are not taxable in Canada.
• When we contribute to our retirement saving plan we get a refund equating to the taxed paid.
• I am blessed and cursed to be in a high tax bracket. For every dollar I contribute I get $0.39 back

The catch

• Any money deposited can not be used to replace your BR, however at tax return time the 39% is refunded.

I use high low with the proper indices and play a 4 deck RSA, DAS, H17, ES game with maybe a deck cut from the shoe (less if you tip them $5.00 and say c’mon show us all the aces). My problem is I can not stomach a ramp from 1-20… in all honesty I don’t like 1-10 and prefer a 1-5 ramp. With that said is the game still beatable if I take 50% of my session profit and deposit it for my 39% return?

[Meistro123]

• Gambling winning are not taxable in Canada.

That is an over simplification. The position of the CRA is clear that professional gambling winnings are taxable. If they could prove that you count cards and hence have a reasonable long term expectation of profit you would be obligated to pay tax on your winnings.

[NorthernBJ]

I would say that since I am a T4 earner it would be impossible for them to prove that I am a professional.

It may be different if cards were my only income.

It would be akin to saying “well, you play the lotto every week, therefore you are a professional”.