More Trudeau BS

[MikePal]

Funny thing is the Liberals have done more for the underground economy that any other Government. ie: you know how many people are now working 'under the table' so as to avoid claw backs from their Emergency Benefits programs...Both employer and employees. It's rampant out here in the sticks....Haha...

So, the CEWS ends up providing further incentives to participants in the underground economy to increase rather than decrease or eliminate their tax evasion. Once the economy recovers from the COVID-19 shutdown they may, or may not, increase their reported sales back to previous levels. This Canadian tax lawyer suspects once they get used to the increased unreported cash, they will become addicted to it and will continue to leave the new, larger portion off the books.

While the problem of unreported cash sales and the underground economy is an ongoing focus of CRA, the CEWS will have the unintended consequence of supporting the underground economy. This probably cannot be avoided.

However, the incentive for massive tax fraud fuelled by lack of basic information gathering on the application forms and lack of appropriate penalties in the original rules is scandalous and unforgivable.

[fishermccann]

Laughing about circumventing the tax laws is reprehensible. Guess you are one of those people who have no problem with offshore accounts , to get around our tax laws?

[JBen]

I can attest that we are seeing more and more people looking for financing, who have cash incomes, or hard to prove incomes. Bites them when they try to let loans and mortgages.....

The other topic is more problematic. Some might see it as "envy", their way of shutting down opposition to them, or trying to find equitable solutions. Forgetting that 40-60 years ago, when these things were implemented, life expectancy post retirement was 12-15 years. And the old and accepted formula of better benefits and pensions, but lower gross pay was the trade off. But greed and keeping up with the Jonses, led to having cake with icing and eating it. All at the tax payers expense. Over looking the fact, that these very many years later, the tax base ( lower middle class and down) cant save two nickles as a result. Personally, I don't have a problem with those that don't gross a heck of a lot more than the means and averages, being a drag on the tax payers that can't save for their own futures. But when people that gross the mean duo, also have pensions padded by people that can't save for their own...That's a problem. There isn't one good reason, why someone that grosses $80,000 cant take care of themselves but instead they robs from the poor. And lets not forget, so "discussions" about too few PSWs, COs, GPs, RNs, EAs, ECEs and more.

Nah, the cost of PS has nothing to do with it. People in private are just envious and should have made better choices.
/boggle

And with respect to tax avoidance, legal or otherwise. Well no bloody wonder. People that can, will and do. Whether through TFSAs, RSPs, RESPs and more. With respect to business owners and self employed. Who have to pay for their own healthcare insurance, and have a ton of other expenses., spend tens of thousands of their own capital.....then get shut down while PS doesn't lose a penny or nights sleep.....God forbid they have ways to reduce their tax loads.....Or do stuff in cash and off the books.

Cause and effect.
Want to moan about tax avoidance......Well why is there so much of it to begin with.....

Round and round she goes.........
One thing is clear these days. 30% of the population is getting kicked in the gonads. Many, have lots to say a long the lines of "so sad" or "thought and prayers".

[410001661]

GW....Yet you admittedly break the law, working under the table to avoid the tax man.. I am retired, with my pension, and my investments, I pay more tax than what you stated. So does my wife. So I also pay my share, as set out by CRA, without cheating the tax man on hidden income. Noteworthy.... If you hide income, you are NOT paying your fair share. You cannot take the high road. But I guess if you are doing it for your family, it must be okay. But gosh darn , nobody else had better do that. Lol.

There is no high road or low road when doing what is best for you and your family. It is obscene how much my wife and I pay in taxes after maxing out RRSP's, and TFSA's every year - we are paying quarterly now just because the CRA wants to make sure they get their pound of flesh. There is nothing we can do about that - my wife is a Director with a Pharma company and I am a Sales Manager with an electrical manufacturer. We cannot doctor our income but I can sure as hell hide the money I make doing profitable side hustle and I do not feel one bit guilty about doing it. Our house is my wife's name as primary residence and my student rental is my primary residence (on paper) so we are immune to the capital gains when we eventually liquidate it. Am I bending the rules - hell yes. Do I care......hell no.

If the government was spending my tax money responsibly I would be 'less' likely to........aaaah who am I kidding I would still be doing this - LOL.

My pension will be taxed, my stocks are taxed (when I make money), my RRSP will be taxed.........you need assets to hedge against this. Real estate, and CASH.

[smitty55]

The government does not pay your pension, the tax payer does.

Why do you keep feeding the troll? He's laughing at you in the background.

[MikePal]

Either does The Village Idiot or the CRA..remember the Panama Papers...Apr 2016....here's the progress as of Apr 2019...

Too many Liberal friendly folks names on the list ..??

CRA identifies nearly 900 Canadians in Panama Papers, 5 investigations underway

He maintained Canada hasn’t collected any money from the Panama Papers disclosures, pointing out there is a difference between “assessing” money owing and actually collecting it.

The CRA says it doesn’t track whether payments from delinquent taxpayers come from specific audits or adjustments, and as such, is unable provide a dollar figure on the total amount collected as a result of the Panama leak.

[greatwhite]

I don't have any off shore accounts nor does anyone in my extended family.

Like I said you are Liberal and all for it as long as it does not personally affect you.

we do know that Liberals in the current office like to try and get around the laws and not pay their fair share, that has been shown quite well.

You GW , on this site, have admitted that you have you worked , 'under the table', to beat the tax man. Ripping off your fellow taxpayers , you are. No high road for you.

[MikePal]

Why do you keep feeding the troll? He's laughing at you in the background.

Well at least his wife is

[greatwhite]

Bored, waiting for emails to get answers to complete my work.

Why do you keep feeding the troll? He's laughing at you in the background.

[fishermccann]

41... If you do that tax evasion thing, should you not lose the ‘right ‘ to complain about others doing so as well. Cast the first stone , etc....