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[Canada] Canadian Politics Redux

Started by Josephus, March 22, 2011, 09:27:34 PM

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viper37

Quote from: Valmy on July 21, 2017, 10:46:38 AM
Really? I think I can trust the honorable actuaries of Languish.
these actuaries are Americans and you are Americans, it's a step in the right direction ;)
Relying on an American actuary or accountant when you are a canadian videogame developper could lead to tricky situations.
If Jacob really wants tax advice, he should seek it from a professional.  If he can't afford such a professional, than he does not need it. ;)

Fiscality is not my specialty, it has more to do with lawyering than accounting or finance.  I know what I need to know for my business, my father's situation and my employee's general situation.
I don't do meditation.  I drink alcohol to relax, like normal people.

If Microsoft Excel decided to stop working overnight, the world would practically end.

crazy canuck

Colbert did a segment where he did a Trump handshake with a Russian in St. Petersburg.  The Russian pulled back and said, "I am Justin Trudeau"  :lol:

HVC

Quote from: crazy canuck on July 22, 2017, 09:47:27 AM
Colbert did a segment where he did a Trump handshake with a Russian in St. Petersburg.  The Russian pulled back and said, "I am Justin Trudeau"  :lol:

Don't know how to do the YouTube time stamp thing so go to the 2:40 mark

https://youtu.be/DUchx_t6jWc
Being lazy is bad; unless you still get what you want, then it's called "patience".
Hubris must be punished. Severely.

garbon

Quote from: HVC on July 22, 2017, 10:29:36 AM
Quote from: crazy canuck on July 22, 2017, 09:47:27 AM
Colbert did a segment where he did a Trump handshake with a Russian in St. Petersburg.  The Russian pulled back and said, "I am Justin Trudeau"  :lol:

Don't know how to do the YouTube time stamp thing so go to the 2:40 mark

https://youtu.be/DUchx_t6jWc

https://youtu.be/DUchx_t6jWc?t=2m41s

You either right that bit at the end or click share and tick the start at bit.
"I've never been quite sure what the point of a eunuch is, if truth be told. It seems to me they're only men with the useful bits cut off."

I drank because I wanted to drown my sorrows, but now the damned things have learned to swim.

viper37

So, the Wildrose is no more?

BB, what's your view on this?
I don't do meditation.  I drink alcohol to relax, like normal people.

If Microsoft Excel decided to stop working overnight, the world would practically end.

viper37

The new citizenship guide is being worked on.  It will please the left that genital mutilation and forced marriages are now considered ok :)

Among voluntary obligations: Respect the rights of others.  So you could think of maybe, accepting that there are people who do not practice your religion the way you see it, and it's totally mandatory to accept that gay "clubbing" does not involve a baseball bat.  Ah, Canada, such a wonderful country to live in when the Liberals are in power :)  Thank God we do not have to suffer for an evil Conservative government intent on preserving the rights of minorities accross the country.  Imagine the chaos that would ensue if newly arrived immigrantes were clearly told that some cultural practices going on in their country of origin are totally illegal here and they should not hesitate to call the police, or a cultural hotline if they do not trust the authorities, to report such practices. 

But thanks to Justin, a poor family like the Shafia would now be free to exercise their religious freedoms as they fit, because, well, you know, there's nothing more important than religion.  When it gains you a lot of votes and manpower for elections.
I don't do meditation.  I drink alcohol to relax, like normal people.

If Microsoft Excel decided to stop working overnight, the world would practically end.

viper37

Quote from: crazy canuck on July 20, 2017, 09:59:22 AM
Quote from: viper37 on July 20, 2017, 09:49:40 AM
Quote from: crazy canuck on July 19, 2017, 07:12:18 PM
You may be right, but it is still a kick in the pants to the change the rules just as I am in the last stretch before retirement.
We're talking 1% - 2% of your current wages in additional taxes?  With good planning, you can still dodge most of the taxes.  It will however affect a lot of SMB owners on the lower scale, like my father, who's not earning 800$/hour.

This is all smoke, as usual, for the Liberal party.  The only thing constant with this party is their disdain for French culture.

I am not sure where you are getting the 1-2% from.  You might be confusing the increase in income tax to incomes over 200k with the changes to small cap corporations.  What is being discussed is not "wages" that an individual tax payer pays on the income they receive, but the rules around how small cap companies are taxed.   And unless your father is a professional (doctor, lawyer, dentist etc) the changes being discussed now will not effect him at all.

I re-read the article from La Presse and it adresses all these measures and they say the government plans to get back 250MM$

Article in French

Quote
Entrepreneurs, médecins, architectes et autres « travailleurs autonomes incorporés » sont frappés de plein fouet par les mesures, grâce auxquelles le gouvernement fédéral compte récolter au moins 250 millions de dollars par année.
Loose translation:
Entrepreneurs, doctors, architects and other "autonomous incorporated workers" are solidly hit by these measures, by wich the Federal government hopes to get back at least 250 millions of dollards by year

Then they proceed to discuss each and every measure:
- Splitting revenues with kids and family members: their real contribution will be evaluated (honestly, I thought that was still the case for wages, at least, might be only for the Provincial govt, or might have been a thing when I started working so many years ago); they will evaluate the work they do for the company, their capital assets in the company and past contributions to the company.
- Such measures will likely be retro-active
- Rules for capital gains exemption will be touched, it will no longer be possible to multiply the exemptions
- the tax report thing you mentionned will be cancelled too.  They (government) gave a specific example between someone using agressive fiscal planning and someone simply keeping profits in his company for real future use and the differences amount to 4,8% income tax saved.


Although fiscalists seem to be shocked by the news, the net effect does not seem that drastic to me.

250M$ re-gained from all incorporated autonomous workers in Canada is not a huge amount of money.  And I suspect that again, it will be the real entrepreneurs, those entering their growth phase and who don't have a ton of employees yet, who would likely be more affected by many of these measures.

I think it would be simpler to simply bar professionals from incorporating themselves.  It used to be the case that lawyers could not be incorporated and liability had to be share will all partners.
I don't do meditation.  I drink alcohol to relax, like normal people.

If Microsoft Excel decided to stop working overnight, the world would practically end.

crazy canuck

Quote from: viper37 on July 23, 2017, 06:13:20 PM
Quote from: crazy canuck on July 20, 2017, 09:59:22 AM
Quote from: viper37 on July 20, 2017, 09:49:40 AM
Quote from: crazy canuck on July 19, 2017, 07:12:18 PM
You may be right, but it is still a kick in the pants to the change the rules just as I am in the last stretch before retirement.
We're talking 1% - 2% of your current wages in additional taxes?  With good planning, you can still dodge most of the taxes.  It will however affect a lot of SMB owners on the lower scale, like my father, who's not earning 800$/hour.

This is all smoke, as usual, for the Liberal party.  The only thing constant with this party is their disdain for French culture.


I am not sure where you are getting the 1-2% from.  You might be confusing the increase in income tax to incomes over 200k with the changes to small cap corporations.  What is being discussed is not "wages" that an individual tax payer pays on the income they receive, but the rules around how small cap companies are taxed.   And unless your father is a professional (doctor, lawyer, dentist etc) the changes being discussed now will not effect him at all.

I re-read the article from La Presse and it adresses all these measures and they say the government plans to get back 250MM$

Article in French

Quote
Entrepreneurs, médecins, architectes et autres « travailleurs autonomes incorporés » sont frappés de plein fouet par les mesures, grâce auxquelles le gouvernement fédéral compte récolter au moins 250 millions de dollars par année.
Loose translation:
Entrepreneurs, doctors, architects and other "autonomous incorporated workers" are solidly hit by these measures, by wich the Federal government hopes to get back at least 250 millions of dollards by year

Then they proceed to discuss each and every measure:
- Splitting revenues with kids and family members: their real contribution will be evaluated (honestly, I thought that was still the case for wages, at least, might be only for the Provincial govt, or might have been a thing when I started working so many years ago); they will evaluate the work they do for the company, their capital assets in the company and past contributions to the company.
- Such measures will likely be retro-active
- Rules for capital gains exemption will be touched, it will no longer be possible to multiply the exemptions
- the tax report thing you mentionned will be cancelled too.  They (government) gave a specific example between someone using agressive fiscal planning and someone simply keeping profits in his company for real future use and the differences amount to 4,8% income tax saved.


Although fiscalists seem to be shocked by the news, the net effect does not seem that drastic to me.

250M$ re-gained from all incorporated autonomous workers in Canada is not a huge amount of money.  And I suspect that again, it will be the real entrepreneurs, those entering their growth phase and who don't have a ton of employees yet, who would likely be more affected by many of these measures.

I think it would be simpler to simply bar professionals from incorporating themselves.  It used to be the case that lawyers could not be incorporated and liability had to be share will all partners.

If La Presse is reporting that the 250 is from all the proposed measures then the reporter has a time machine, since the government hasn't even decided what all those measures are going to be.
For example, the government has not yet announced how they are going to tax investment income within a corporation or what restrictions they are going to impose. 


Monoriu

Quote from: viper37 on July 23, 2017, 03:57:09 PM
The new citizenship guide is being worked on. 

I am slightly concerned, and I need to follow this.  I don't think they are going to take away my passport, but I am only like 99.999% sure  :ph34r:

Barrister

Quote from: viper37 on July 22, 2017, 11:25:33 PM
So, the Wildrose is no more?

BB, what's your view on this?

Big proponent.  I joined the PCs specifically to vote in favour of Jason Kenney's leadership / in favour of a merger.

Rachel Notley's days are numbered. :menace:

As a public servant this may not be in my most immediate self-interest, but in the long term interest of the province ( and thus myself) I think it's a solid move.  And the bigger long-term news is we seemed to have eliminated the squishy Redford-inspired "centrists" in favour of a true Alberta Conservative party.
Posts here are my own private opinions.  I do not speak for my employer.

viper37

Quote from: crazy canuck on July 23, 2017, 07:18:46 PM
If La Presse is reporting that the 250 is from all the proposed measures then the reporter has a time machine, since the government hasn't even decided what all those measures are going to be.
For example, the government has not yet announced how they are going to tax investment income within a corporation or what restrictions they are going to impose. 


They don't give the link, but they say it comes from the actual document of the Department of Finance given to journalists.  I searched for it, but I couldn't find it.
I don't do meditation.  I drink alcohol to relax, like normal people.

If Microsoft Excel decided to stop working overnight, the world would practically end.

viper37

Quote from: Barrister on July 23, 2017, 08:42:36 PM
And the bigger long-term news is we seemed to have eliminated the squishy Redford-inspired "centrists" in favour of a true Alberta Conservative party.
platform-wise, what does that mean, precisely?
I don't do meditation.  I drink alcohol to relax, like normal people.

If Microsoft Excel decided to stop working overnight, the world would practically end.

Barrister

Quote from: viper37 on July 23, 2017, 10:57:26 PM
Quote from: Barrister on July 23, 2017, 08:42:36 PM
And the bigger long-term news is we seemed to have eliminated the squishy Redford-inspired "centrists" in favour of a true Alberta Conservative party.
platform-wise, what does that mean, precisely?

Alison Redford fused the PC-Party with public sector union friendliness (particularly the Teachers union).

A Kenney (or Jean, who I like a lot as a person, but not as much as a leader) government will take a harder line on spending.
Posts here are my own private opinions.  I do not speak for my employer.

viper37

Carolyne Mulroney entering politics

Ontario, for now.  She seems smart.  Hopefully, she'll make it to federal elections after Scheer's defeat. :(
I don't do meditation.  I drink alcohol to relax, like normal people.

If Microsoft Excel decided to stop working overnight, the world would practically end.

viper37

http://www.torontosun.com/2017/08/03/quebec-dealing-with-150-asylum-requests-a-day-immigration-minister

Thanks to America's threat to deport massive number of immigrants, Quebec is now flooded with migrants, mostly Haitians.

They've been sent to the Olympic Stadium in Montreal (former home of the Montreal Expos for baseball fans, also former home to the Alouettes), wich will be filled at capacity by the end of next week. Yet, Trudeau insists Canada has the capacity to treat all applications.  From illegal immigrants.

<sigh>
I don't do meditation.  I drink alcohol to relax, like normal people.

If Microsoft Excel decided to stop working overnight, the world would practically end.