…..two former supreme court justices agree on the essential but overlooked aspect of the Liberals small business tax changes….it opens small businesses to a boatload of Canada Revenue Agency audits and litigation
…..two former supreme court justices agree on the essential but overlooked aspect of the Liberals small business tax changes….it opens small businesses to a boatload of Canada Revenue Agency audits and litigation
To educate yourself more about fairness google Stalin’s “uravnilovka” .
Buy your ‘Justin Trudeau is a MORON’ bumper sticker on eBay. Makes a great Christmas stocking stuffer:
http://www.ebay.ca/itm/173020713446
Well, one of Mulroney’s accomplishments was making CRA less attack dog. Looks like this has been undone. The ideal solution, is to long march in there, and set the attack dog onto Morneau, Trudeau, and all other people who have ever donated Liberal. You know, weaponize it like they did with the IRS…
Canada is leading edge.
No need for armies. No need for violence.
Canada is a Velvet Fist Totalitarian State.
We have the laws, the regulations, the taxes, the complicit media, the lunkheads to ensure compliance.
Can’t understand why the various dictators don’t learn from the best.
Replace the Beaver with the Mouse.
How many 40 year olds rely on a trust fund to supply their income? It’s like his dad knew how inept his kids were. Most trust funds are in effect until the trustee is an adult or get married. Guess there was a lack of trust he wouldn’t be a street person.
I think the two justices are from the Tax Court and not the Supreme Court.
We are going to relive the days when Revenue Canada worked on the assumption that a woman was too stupid to economically contribute to a business. In a lot of the businesses I work with, I might see the husband once every 10 years, dealing with the wife for all financial and tax matters. But the wife doesn’t drive the truck, do the plumbing, the engineering, or building. Now the tax people are going to start making assumptions based on their idea of individual contribution which will certainly denigrate the worth of women.
“Hi, I’m the Spawn of Satan and ahhh those flames behind me ahh is where my Papa lives ahhh and we’re from the Government ahhh and we’re here to help you”. Just like his Marxist pal Obomugabe, he hates small businesses and private entrepreneurs and he’s going to do something about it. Bend over you capitalist pigs, the Spawn’s bureaucrats are about to give it to you without as much as a kiss.
Heres a list of questions for the Liberals (courtesy of a Raymond James circular)- questions that they hoped not to bother having to answer – and I doubt gave any consideration to.
What is the effective date of the proposal?
How will existing investments be grandfathered?
What is the definition of investments already made? Are cash balances included?
Will there be a valuation date?
If so, what date will be used for valuation? July 18, 2017 or October 18, 2017 or sometime in 2018?
Will there be a requirement to separate investment accounts or will there be a proration of total investment income to determine the grandfathered income?
How will business owners track the grandfathered assets? Should they move the grandfathered assets into a separate company to ease administration?
Should corporate investors open separate sub-accounts for their investments to deposit new low-taxed active business profits to avoid co-mingling funds with grandfathered assets?
What if the grandfathered investment balances are drawn down, can the funds be replaced at a later date and continue to produce grandfathered passive income?
Does the $50,000 passive income threshold apply for each corporation or does it have to be shared amongst a corporate group?
How is passive income defined? Is it the existing definition of aggregate investment income reported on Schedule 7 of the T2 tax return, i.e. all non-incidental passive income?
Will corporate-owned insurance policies be pulled into the new passive income rules?
Are capital gains from the sale of business assets included in the definition of passive income?
How will passive income above the $50,000 threshold be taxed?
Do the existing rules for refundable dividend taxes (RDTOH), the capital dividend account (CDA), and the general rate income pool (GRIP) still apply to grandfathered income? What about income above the threshold?
Will grandfathering of investment assets end when the corporations shares change owners?
And yet, a blind ignorant population elects three Liberals yesterday.
What’s that parable about “They came for “this group” but I said nothing”? Seems as long as the Liberals goofs don’t affect their chosen LIVs, all will be well in the Spawn universe.
When the housing slowdown happens, it’s inevitable, the pain will be widespread. It’s the only industry driving the western economy
The money came from the grandfather, not the father.
See what happens when you don’t win elections, Tories?
see what you git when you let bible thumper pretend to be conservatives
the more government regulation and the higher the taxes the more the underground economy will grow.
Wasn’t the trust fund started by Pierre Trudeau’s father?