| Big D |
Smash Master
Sadist tho
Does anyone want to smash this Saturday?
Does anyone want to smash this Saturday?
-
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Canada [Jul 26, 2014] B.C. Brawl Monthlies - Back in business, now featuring Smash 64! (Burnaby, BC)
- Thread starter ~Firefly~
- Start date
I'd support a winnings tax to buy new stuff.
I dug up my Income Tax Act and found this:
Section 56(1)(n)(i):
Amounts to be included in income for year
(1) Without restricting the generality of section 3, there shall be included in computing the income of a taxpayer for a taxation year,
(n) the amount, if any, by which
(i) the total of all amounts (other than amounts described in paragraph 56(1)(q), amounts received in the course of business, and amounts received in respect of, in the course of or by virtue of an office or employment) received by the taxpayer in the year, each of which is an amount received by the taxpayer as or on account of a scholarship, fellowship or bursary, or a prize for achievement in a field of endeavour ordinarily carried on by the taxpayer, other than a prescribed prize,
exceeds
(ii) the taxpayer’s scholarship exemption for the year computed under subsection (3);
(iii) [Repealed, 2001, c. 17, s. 39(1)]
A prescribed prize is an award resulting from a meritorious reward from contributions to the arts, sciences, or public services.
I think everybody's tournament winnings are supposed to be taxed. Of course, you have your education tax credits to earn it all back but technically your tournament earnings must be reported! After a second look, don't think part (ii) really applies to anybody.
Isn't tax interesting!?
I dug up my Income Tax Act and found this:
Section 56(1)(n)(i):
Amounts to be included in income for year
(1) Without restricting the generality of section 3, there shall be included in computing the income of a taxpayer for a taxation year,
(n) the amount, if any, by which
(i) the total of all amounts (other than amounts described in paragraph 56(1)(q), amounts received in the course of business, and amounts received in respect of, in the course of or by virtue of an office or employment) received by the taxpayer in the year, each of which is an amount received by the taxpayer as or on account of a scholarship, fellowship or bursary, or a prize for achievement in a field of endeavour ordinarily carried on by the taxpayer, other than a prescribed prize,
exceeds
(ii) the taxpayer’s scholarship exemption for the year computed under subsection (3);
(iii) [Repealed, 2001, c. 17, s. 39(1)]
A prescribed prize is an award resulting from a meritorious reward from contributions to the arts, sciences, or public services.
I think everybody's tournament winnings are supposed to be taxed. Of course, you have your education tax credits to earn it all back but technically your tournament earnings must be reported! After a second look, don't think part (ii) really applies to anybody.
Isn't tax interesting!?
yeah the community as a whole is somewhat aware of the fact that tournament winnings are supposed to be taxed, in the same way that having somebody pay you 10$ to mow their lawn is supposed to be taxed.
I think the only smash tournaments ever to tax winnings are like MLG and EVO and stuff.
I think the only smash tournaments ever to tax winnings are like MLG and EVO and stuff.
Yakal
Torquasm-Rao
We're all just gambling anyway; craps anyone?
| Big D |
Smash Master
Ok so smash at stronghold tomorrow.
So far Eric, Nick, and myself are going, Eric and I will show up at 1 with NIck showing up a bit later.
So far Eric, Nick, and myself are going, Eric and I will show up at 1 with NIck showing up a bit later.
~Firefly~
Smash Hero
Posted to FB~
Money won from gambling is NOT taxable in Canada. I may show up Saturday.
Agias
Smash Rookie
Hey guys, Reggie here! I just wanted to say thanks for the experience about a week ago. Definitely coming back for more. I believe Calvin and I will show up tomorrow if that's cool 
~Firefly~
Smash Hero
Have fun guys! I hope somebody else plans on bringing a Wii though, since 6+ people - 1 console is not a good ratio.
Yakal
Torquasm-Rao
I'll bring a wii
with melee
with melee
Yakal play Melee with me and I'll come!
Yakal
Torquasm-Rao
after 4:20pm
shoop
shoop
Wow I have never been so turned off to play Melee before. The obvious disrespect I got today was awful. To make things worse, I got pressured into a crew battle (which made me feel worse) I didn't want to be a part of and pretty much made up a lie to leave early.
Like... blatantly telling somebody you're not going to try or looking away for a third of the game does send a message. Saying things that you know will discourage people don't need to be said. I know I am bad but I don't really need to be reminded of that fact repeatedly.
Landon you should prepare yourself for the Zelda matchup for the monthly in May.
Like... blatantly telling somebody you're not going to try or looking away for a third of the game does send a message. Saying things that you know will discourage people don't need to be said. I know I am bad but I don't really need to be reminded of that fact repeatedly.
Landon you should prepare yourself for the Zelda matchup for the monthly in May.
Blunted_object10
Smash Master
Sorry to hear that Kevin.. I can guess the certain people too that would say that kind of stuff.. Not sure what to say about them. But that's not how we get the smash community to grow that's for sure. Disgusting.
Yakal
Torquasm-Rao
Kev: I don't remember any of this happening and I wish you would have said something instead of lying. We aren't going to staple a controller to your hand and force you to play if you really don't want to, just say you don't want to play and you'd rather spectate. I hope you show up again because it's finally nice to have a peach player in BC and you're impossibly pleasant to be around.
lol
on 4/20
Yakal
Torquasm-Rao
Alphicans
Smash Hero
Skidd with that legit call out
Yakal
Torquasm-Rao
what callout
It's not a secret that I smoke lol 420 was just another day
It's not a secret that I smoke lol 420 was just another day
Alphicans
Smash Hero
The callout that your memory holds no weight in any argument
Yakal
Torquasm-Rao
My memory isn't THAT terrible, I just have trouble remembering names and the date lol
Alphicans
Smash Hero
First off, don't take it seriously
Secondly, don't even lie about memory while high. When I am really baked I don't even remember what I am talking about 2 minutes ago
Secondly, don't even lie about memory while high. When I am really baked I don't even remember what I am talking about 2 minutes ago
Yakal
Torquasm-Rao
thats a shame sry 2 heer dat
_GrapE_
Smash Lord
I'm back in my place for the next couple nights. Then I think I may leave again for a week until I move into my new apartment here.
Yakal
Torquasm-Rao
Dude, what's going on, you need some help or something?
The nail polish is awful. I'm right because I main Peach. Guys don't properly take care of their nails so you could never pull off nail polish like girls do.
You remind me of: http://www.youtube.com/user/WonderlandWardrobe
You remind me of: http://www.youtube.com/user/WonderlandWardrobe
| Big D |
Smash Master
Quite the rebellious teenager you have become.
It's not disrespect, it's critique. 
Sorry though.
Sorry though.
Irisz
The Wanderer
:D Sounds great!Hey guys, Reggie here! I just wanted to say thanks for the experience about a week ago. Definitely coming back for more. I believe Calvin and I will show up tomorrow if that's cool
Ohaider
Alphicans
Smash Hero
Asa, you're the biggest newgen I know
How are you going to maintain that hair?