Apr 30, 2012
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A friend of mine was at a car show in the Orangeville area on the weekend. According to him, the fifty-fifty payout would have been about $800 but there was some rule or regulation that only allowed them to pay out $400. That's a new one on me. Anyone else heard of this?
 
A friend of mine was at a car show in the Orangeville area on the weekend. According to him, the fifty-fifty payout would have been about $800 but there was some rule or regulation that only allowed them to pay out $400. That's a new one on me. Anyone else heard of this?

New one on me also. This past weekend at our club-run show, we had a pot of just over 2240. And we paid out 1120....or there about. Can't remember the exact numbers.
 
The CRA has strict rules when it comes to gambling, even under a charity. These fall under the Income Tax Act.

Was the car show sponsor registered as a charity if they were collecting? If so, max payout can be up to $50,000 but it has to be reported as winnings.

If they are just asking for donations to support a charity, ie no license, legally, they can only pay out to $500. Anything above that has to be declared by both parties.

CRA is aware that almost everyone breaks this rule and are cracking down on lots of these shows and it doesn't just happen with cruises.

The CRA wants their cut.
 
A friend enlightened me as to Canada Revenue Agency and the good that this Orangeville car shoe does. A LOT of money is raised for Children's Wish and the like. Some times it would be better if the CRA stayed at arms length when dealing with obviously good causes. Then again, that's government and we know all too well how well they run things......NOT.
 
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