US Cheque
 

Might be a dumb question, can i cash it at local bank or depost into my US account at local bank if i received a US cheque from US casino ??


US casino deducted the tax 30% off my winning and they counted it as source of income. If i do deposit into my US account, does it count as my foreign source of income when the tax season comes next year ?

I don't know about other banks, but with RBC you can deposit it in the ATM like any other check. They will adjust it later

Im using TD for anybody wants to chime in , thx

Sure you can. Since you have a USD account, just deposit it there. If you deposit it to a CDN account, then it'll get converted to CDN at today's USD buy rate. Also, normally you'll have to wait up to 1 month for the funds to clear.

If it's a US cheque, it would take a lot longer to clear, but never had any problem either.

Do you have a receipt from the casino showing the deduction? You can actually get that 30% back from the Casino.

They will take a % but the money is free in a way I guess

Casino Tax Rebate® | Casino Tax Refund | US Gambling Tax Refunds

the site is just a example but there are local ones out there. You can actually get a card where the Casino can't tax you at all as well.

^i kinda look around but there are so many sites out there and not too sure which one is legit and wondering how much fee they would charge

do u know what the card is called ? i didnt see anything on that

no clue but my buddy has it. They just take a % off so its basically free money

If you haven't inferred it from the other posts, gambling is not taxable by the CRA so you don't have to include it on your tax return.