ca income tax be claimed on loos in spreadbetting?

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ca income tax be claimed on loos in spreadbetting?

2007-07-09 00:53:15 · 2 answers · asked by Kailash N 1 in Business & Finance ➔ Taxes ➔ Other - Taxes

2 answers

NO.

PS get a spelling checker

2007-07-09 20:48:51 · answer #1 · answered by Steve B 7 · 0⤊ 0⤋

you dont pay tax on your winnings, so you cant claim tax on any losses.

the tax is absorbed by the spread, which is then paid as gross profit tax by the spread company you are betting with.

2007-07-09 01:00:34 · answer #2 · answered by Anonymous · 0⤊ 2⤋