968dbb07   
   XPost: can.general, can.politics, ott.general   
   From: Canuck57@nospam.com   
      
   On 02/08/2011 8:53 AM, Alan Baggett wrote:   
   > Brian Mulroney&  the World’s Number One Tax Haven – Part 4 :CRA SOTW   
   >   
   > Since Brian Mulroney’s escapades (which included stashing cash in a US   
   > safety deposit box) many folks have asked me which country is the best   
   > when it comes to hiding your money from the Canada Revenue Agency?   
   > Really Alan, where is the Worlds Number One Tax Haven? Where would you   
   > put your money?   
   >   
   > Luxembourg? The Caymans? Singapore?   
   >   
   > Nope, it’s none of these.   
   >   
   > Brian Mulroney got it right when he put some of his brown bag $225,000   
   > (or perhaps it was $300,000) in the United States. Why? Because the   
   > United States is the world’s number one tax haven – unless you’re an   
   > American of course.   
   >   
   > Or you’re a Canadian.   
   >   
   > Because if you’re not an American and you’re not a Canadian and you’re   
   > not a foreign national living in the U.S. then the Number One tax   
   > haven on this earth is the United States of America. U.S. banks are   
   > every bit as secretive as Swiss banks when it comes to foreigners.   
   > They report nothing to foreign governments so you will not have to pay   
   > tax on any interest accrued should you chose to go that route.   
   >   
   > So you won’t have to use a safe deposit box like Brian Mulroney did to   
   > stash your monies. Nope. You can openly stash your money in an   
   > interest paying account and the only people who will know, outside of   
   > the Americans, will be the people you choose to tell. Because under   
   > American law, non-U.S. citizens living outside the U.S. who deposit   
   > money in American banks, their income does not have to be reported to   
   > anyone. The lone exception being Canada who the U.S. has a pact with   
   > to trade banking information.   
   >   
   > So how does this help you then? Being a Canadian citizen and residing   
   > in Canada – the only nation that the U.S. sends foreign banking info   
   > to?   
   >   
   > It’s quite simple really.   
   >   
   > Do you know a trusted someone residing overseas who is not an American   
   > or a Canadian citizen? A family member? A friend? A business contact?   
   > It can be anyone you trust just so long as they’re not an American or   
   > Canadian citizen and they do not reside in the United States. If you   
   > do, you simply ask them to open an account (not in your name) in a   
   > U.S. based financial institution then you send them money to deposit   
   > on your behalf into that account.   
   >   
   > And by doing it yourself, it means the cost is minimal. If you check   
   > out some of the firms who specialize in helping folks secret their   
   > assets overseas, normally they charge several thousands of dollars to,   
   > in some cases, over $100,000 dollars to open accounts and act on your   
   > behalf. How many among us can afford that?   
   >   
   > Best of all, your money is not only in the easy to convert American   
   > currency it’s close to home – not half way around the world in some   
   > foreign country you’ve never heard of and don’t speak the language of.   
   >   
   > This is what I tell Canadians who ask me what I would do if I were   
   > ever to stash some undeclared cash. Use the United States if you can   
   > because it is the world’s number one tax haven.   
   >   
   > And if you’re hiding undeclared gains and you think that the CRA is on   
   > to you then you plead mea culpa and cut a favourable deal. You pull a   
   > Mulroney. What better example is there for any Canadian then to follow   
   > in the footsteps of one of Canada’s longest serving Prime   
   > Ministers.   
      
   There are better ways especially if you hold dual citizenship in the   
   right countries.   
      
   For example, it may not pay you to reside in Canada.  At least not   
   officially.   
      
   --   
   Seems like paying your bills with real money is no longer the accepted   
   behavior in USA.  Perhaps that is the problem and not the the solution.   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)