Western Standard- RICHIE RICH: Carney dismisses questions about his wealth
Prime Minister Mark Carney is refusing to disclose details about stocks and other assets he and his wife hold across two continents, including investments in corporations that receive federal contracts.
Blacklock’s Reporter says when asked by reporters about his financial holdings, Carney expressed surprise at the inquiry.
Where does he pay his taxes? … which here in the USA establishes “residency”
Psssst … I’ll bet it’s NOT Canada. So is it legal to have a non-resident PM? Hell … he might be treating Canada as Britain’s 51st Colony
Kenji
As Prime Minister, if he tries to claim non-resident status, he’ll have problems.
Since he was in Brookfield’s senior management, most likely living in Toronto, but certainly paid by a (at that time) Canadian company, and was a key adviser to Justin Trudeau, I doubt the tax man would let him claim Canadian non-resident status.
Where does he pay taxes? Most likely primarily Canada. But he may pay taxes in other countries depending on his investments, directorships etc.
For example: any dividends from US companies will incur US taxes. Similarly any director’s income from US companies would presumably incur US taxes.
Supposedly as PM, he’s resigned all his corporate directorships (wink, wink, I’m sure there’s no longer any connections – pssst wanna buy a bridge).
Whether he’s getting favourable treatment from the CRA (Canadian taxman), well you’d have to ask Steven Guilbeault.
I suspect his taxes are quite complicated.
He was living in Ottawa, but that doesn’t mean he was paying taxes here.
It depends a lot on how he was paid, and which of the Brookfield companies was paying him, since at least some of them are located in low tax jurisdictions like Bermuda
https://offshoreleaks.icij.org/search?q=brookfield&c=&j=&d=
You might be right.
If he was living in Ottawa, he was resident in Canada, and would have to file a Canadian income tax return.
As to whether he paid any tax in Canada, that would depend on how much tax he paid to other tax jurisdictions.
If he was resident of Canada, he gets to deduct foreign tax paid for foreign income. If the foreign tax rate was less than the Canadian rate, he’d pay the difference. If the foreign tax rate was higher, he’d pay no Canadian income tax on the foreign income.
For example: when I worked in Europe, I paid a lot of income tax to a European country. But the Canadian tax man said I was resident in Canada. So I they said I had to pay Canadian income tax also.
Since all my income was from Europe, and my European taxes were much higher than Canadian income tax. I paid no Canadian tax. But it took me many years to get my Canadian tax payment back. The CRA initially refused to pay any interest, but I had carefully documented all my correspondence with them, and eventually got full interest back.
Carney is a sociopath. He does not believe the rules apply to him and his psychopathic wife.
Buisness??
Hopefully this is showing one of the chinks in his armor.
I know he’s got other chinks, but this chink is a good start.
Chinks, dents, and massive holes in judgement, and it’s only day one. Patience my fellow Canadians, patience.
Got arrogant with CBC’s Rosemary Barton over daring to challenge Carnage on his failure to disclose finances.
What happens IF he gets real questions from a real “journalist,” or in debate with Poilievre (he plans to duck)?
The corrupt bought-and-paid-for legacy media will insist there is nothing to see there. Majority of Kanadian sheeple will accept that as gosepl.
Possible Reasons For Carney’s Portfolio Secrecy:
A: He’s shorted the TSX.
B: He’s shorted every major Canadian oil company.
C: He doesn’t own shares in any Canadian companies.
D: You know, all of these.
#CarneyshortedtheTSX
Or because Brookfield has a complicated structure, and some of their companies are organized in low tax jurisdictions
Try and untangle this: https://offshoreleaks.icij.org/search?q=brookfield&c=&j=&d=
His money isn’t any of your business. But your money? Oh yeah, it’s his business.
Doesnt Canada have a register of pecuniary interests for politicians?
“I would like to reassure you the assets I have were earned through employment, employment income, employment as a public servant and employment in the private sector,”
Seems the man never had a real job!
Figures. He’s a Liberal
Carney believes for some reason that he will enjoy the same immunity from criticism that Leisure Suit Larry did.
What Carney doesn’t realize is the reason Trudeau was afforded the kid glove treatment was because of his last name.
This is something Carney will not inherit by virtue of being the liberal leader.
Related
This facade can only go on so long, and because parliament must resume on the 24th the liberals will be faced with the uncomfortable and awkward position of a so-called PM not being recognized in the House of Commons.
For those uncertain of what I mean, in the House of Commons you must have a seat to be recognized. As well, until such time as an individual takes a seat as a member, no one can ask a question of them during question period.
Fun fact.
Until they do have a seat, they cannot enjoy the protection of parliamentary privilege and any statement they make can become actionable.
But I digress
The visual of having an unelected PM is not going to pass the smell test.
They know this
The opposition parties know this
And the entire press gallery knows this.
It has an unmistakable stench of illegitimacy to it that not even the CBC could sell (and because they wouldn’t be carrying water for a Trudeau they don’t feel any obligation to)
So what does it mean?
This weekend Carney is going to see the GG to get a writ of elections.
They don’t want the spectacle of being propped up by the NDP and let Poilievre take pot shots at an absentee PM and because he isn’t covered by Parliamentary privilege they don’t want to risk Poliviere cornering him in the lobby to ask him a question.
The only risk is that they haven’t really had a chance to define him as anything other than the interim space holder.
Time isn’t on their side, and he doesn’t exactly generate a lot of enthusiasm.
Sort of the same energy level as Joe Biden.
But they got stuck with him and now they have to endure what is likely to be a short campaign with him as their champion.
He’s not charming
He’s not charismatic
And he doesn’t make the ladies swoon like Leisure Suit Larry did.
Oh one caveat about recognition in the House.
Carney can be referred to by name in by any member when they rise to address the speaker.
On December 12th, 2022 Mark Carney transferred in 15,791 shares of Brookfield Asset Management (BAM), with a value of $468,091 at a price of $29.6429.
He hasn’t seemed to have sold out those shares according to the insider disclosures.
What’s really weird is that for the CEO, he doesn’t appear to have much in the way of ownership in the company he was running, and there doesn’t appear to be any exercise of options.
Just wait’ll the Odebrecht Settlement comes back to room temperature, then we’ll really get the stink off of Klaus’ boy. (Taibbi’s rewarming this on his Substack. Much fun. Andrew Weissmann’s featured.)
Surprised by that question? Is he disingenuous or an idiot? Both?
By putting his holdings in a blind trust he loses day to day management but he still knows the content of the trust and could still influence its earnings with policy that favors those holdings. Whether it’s done intentionally or subconsciously he still benefits. If given a fairly equal choice , one that leans maybe a little bit to increasing his personal wealth or the one that benefits Canada maybe a little bit more which one will he choose? Tough call Mark! He was deeply resentful of questions concerning his holdings and his answer to the question implied that he had given up control of his personal wealth solely so he could come back and “save “us. What a sacrifice he has made for all of us by lending his great mind and superior talent to us ! Why he wonders can’t we appreciate that? He is after all the smartest man in the room. And the biggest ego. Our saviour! How dare we question him?