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  • Nov 12th, 2017 10:33 am
Banned
Dec 28, 2015
617 posts
232 upvotes
Westmount, QC
Meh, Cayman islands is a low tax jurisdiction specifically designed by the Brits to attract money

All companies, organization and rich(er) people use it.

Apple, Google, the queen of England all use it
[OP]
Deal Guru
User avatar
Mar 14, 2009
10476 posts
3793 upvotes
MrWhiteCoffee wrote:
Nov 5th, 2017 9:21 pm
Meh, Cayman islands is a low tax jurisdiction specifically designed by the Brits to attract money

All companies, organization and rich(er) people use it.

Apple, Google, the queen of England all use it
This is the dirty secret of the rich and the establishment. They don't want us to know the details. We can only find out their names through leaks like this. Why do you think this type of behavior has always been allowed? It just shows that the elites are ruling over us to this day. They pay virtually zero tax while the rest of us struggle to get by. It's sickening.
I am a Zoomer customer.
Jr. Member
Aug 31, 2017
195 posts
48 upvotes
This is disappointing. Terribly disappointing. I don't give a damn who else did whatever in the past. This is time for the NDP to FINALLY make a move.

Also, people really need to give CBC and the Toronto Star some credit. They get major flack for being leftist or whatever verbiage people throw around, but without them, some of these major scandals may have not come to life.
Deal Fanatic
Feb 15, 2006
6826 posts
1461 upvotes
Toronto
The Liberals and the Conservatives, and other very rich people do these. It's not political affiliation. The super rich buy influence of both political stripes, except in NDP. Is it illegal, well they got lots of lawyers who are working on all the loopholes and technicalities. Is it moral? Not very.

But why the British Queen is involved in this, when she doesn't have to care about money or her wealth.

Meanwhile we get audited every few years having to prove our childcare expenses, or my kids need to show receipts for the $500-600/month for rent while attending university out of town. The CRA needs to shift the time and energy trying to audit those obvious expenses (and end up finding that daycare costs money, or students really have to pay rent) and instead go after the big fishes where tax evasion (in the millions) are real.
Deal Addict
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Sep 1, 2013
3439 posts
195 upvotes
MyNameWasTaken wrote:
Nov 5th, 2017 10:40 pm
Also, people really need to give CBC and the Toronto Star some credit. They get major flack for being leftist or whatever verbiage people throw around, but without them, some of these major scandals may have not come to life.
They did not discover the story themselves, it was fed to them by another news outlet. It was the same story for the Panama Papers.

https://www.thestar.com/news/paradise-p ... again.html
The leak was obtained by German newspaper Süddeutsche Zeitung and shared with the International Consortium of Investigative Journalists and a network of 382 journalists in 67 countries, including the Toronto Star and CBC/Radio-Canada.
Deal Addict
User avatar
Apr 3, 2006
2220 posts
222 upvotes
I'm so confused as to what exactly the issue is that's being relayed back to Trudeau.

His friend and someone who raised money for him before the election has his family fortune involved in a tax avoidance scheme?

How is this related to Trudeau? Is he supposed to personally manage his friend's wealth?
Deal Addict
Nov 24, 2013
4166 posts
1168 upvotes
Kingston, ON
hi-tech wrote:
Nov 6th, 2017 9:07 am
I'm so confused as to what exactly the issue is that's being relayed back to Trudeau.

His friend and someone who raised money for him before the election has his family fortune involved in a tax avoidance scheme?

How is this related to Trudeau? Is he supposed to personally manage his friend's wealth?
It's to get more clicks on the headline, primarily. It doesn't implicate Trudeau in anything.

End result of things like this is usually a public disavowing by the tangentially-related politician of the actions of the former business associate, and a severing of ties.
Deal Addict
Oct 7, 2007
3024 posts
675 upvotes
blexann wrote:
Nov 5th, 2017 1:26 pm
Monday question period should be pretty interesting
It SHOULD be interesting but Trudeau, Morneau and friends always seem to give the same one line response over and over. Something like, "... we were elected by the people to do blah blah blah and that's what we are going to do..." No rationale, no explanation, no discussion, no nothing when it comes to any valid questions raised. If they even show up at all.

Very disappointing. I am surprised more taxpaying citizens of this country are not outraged by all the outrageous scandalous behaviours, bad decision making and other atrocities we have seen since this party was elected to power. It's all about being a "feminist" which I don't think is even done in a way that benefits women in a true and respectful sense, and everything else is "do as I say and not as I do".
Deal Addict
User avatar
Jan 27, 2007
4837 posts
793 upvotes
Peterborough
Wow, just read the entire Star article. Surprised that a sevely left-leaning paper would go to the depths they did.

My take is that it doesnt seem "right" that this type odmf avoidance can take place, but it might be "allowed" under tax law as it hasnt really been tested using the legislation. If anything comes of it, it will be miltiple years. Accountants and lawyers will make the bulk of the money to be made. CRA may fold under the pressure of the high prices legal teams and their staff will be outmatched - they dont get paid enough to deal with the complexity, or should I say the lawyers they will go against will be paid better. Once again, money will decide.
Deal Fanatic
Jul 5, 2005
5972 posts
224 upvotes
More than 3,000 Canadian names in the Paradise Papers
A supermarket giant, an NHL hockey team, several billionaires and a yacht captain.

These are just a few of the roughly 3,300 Canadian companies, trusts, foundations and individuals whose names appear in the Paradise Papers, a leak of millions of records from offshore law firm Appleby and the corporate registries of 19 tax havens.
This could be big and lead to a significant shake up in Canadian politics...

Some articles about how the rich and elites avoid paying taxes.

Ex-PM Chrétien lobbied for African oil company he didn't know was based in tax haven

Billionaires' law firm helped wage 'Kill Bill' campaign to block offshore tax legislation

Trudeau's chief fundraiser linked to Cayman Islands tax scheme

Deal Fanatic
Aug 29, 2006
6753 posts
974 upvotes
Well, is good that more of the hypocrisy is coming out, as the paper illustrates... the super rich aren't just hiding their assets in a private corp to dodge taxes, unlike what the Liberals wanted average Canadians to believe few wks back, the rich had better avenues to do so and we now know even the Liberals themselves had use.

So, the Liberals very much knew going after Small Corp would really only hurt the Mid to higher class Canadians like professionals and small business owners mostly but they didn't care, cause they were the EASY targets. Plus, they and their friends are well sheltered from it anyways.
Last edited by hdom on Nov 6th, 2017 3:18 pm, edited 1 time in total.
The Devil made me buy it - RFD. :twisted:
Penalty Box
User avatar
Aug 23, 2006
2946 posts
186 upvotes
before the usual troll comes to defend liberals like this.
You do realize they didnt do anything illegal right?.
And
Conservatives are denying that their party is corrupt.
And one more
Thanks for agreeing with me.
.
The arrogance of these PMs and Liberal Ministers is so depressing.
“There are some things money can’t buy, and for everything else there’s MasterCard. Well, get out your checkbooks ladies and gentlemen, because it seems like the entire liberal cabinet can be bought. TRUDEAU: I CAN’T BE BOUGHT...LMAO. Because its 2017
Deal Fanatic
Jul 5, 2005
5972 posts
224 upvotes
It's also problematic that we have a high ranking member of the Liberal party and former Prime Minister lobbying for a foreign oil company when we can't even get Canadian oil into pipelines. I guess Ontario and Quebec politicians are happy to see foreign oil arriving in tankers because it lines their pockets now and in the future whereas Canadian oil just helps the country as a whole.

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