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Is the tax something that a hedge fund with offshore shell companies and other active investments could work around?
by micwawa 11y ago
Is the tax something that a hedge fund with offshore shell companies and other active investments could work around?
- irixusr 11y agoI seem to recal that Canada doesn't tax winnings. And there's a better strategy then playing every number; play only the numbers that are not likely to cause a collision. You might not an every time, but you'll increase EV
- tempestn 11y agoCanada doesn't tax winnings in games of chance. If you're seen to be operating a business though - a professional poker player for instance - the winnings will be taxed. Buying all the numbers to a lottery with an expected profit could definitely fall under that umbrella.
- bryanlarsen 11y agoUnder that scenario, you'd be able to deduct the cost of the tickets as a business expense.
- tempestn 11y agoTrue. Would still reduce your net profit though. (And if your plan fails and you don't make a profit, I can just about guarantee they won't allow it to be classified as a business with deductible losses.)