From: Canuck57@nospam.com   
      
   On 17/07/2012 11:45 AM, Alan Baggett wrote:   
   > Investment industry asks tax man for a little relief : CRA SOTW   
   >   
   > Barbara Shecter 2:54 PM ET |   
   >   
   > The investment industry is hoping the Canada Revenue Agency is willing to do   
   with a little less income tax money to help eliminate “cost-ineffective”   
   reporting of corrections to client tax slips.   
   >   
   > In a letter sent to two CRA officials last week, the Investment Industry   
   Association of Canada asked for legislative or regulatory changes if necessary   
   to remove a requirement that tax slips with corrections — at least those with   
   corrections of less    
   than $100 — be mailed to clients and filed with the CRA.   
   >   
   > To back the request, the industry association offered up a test case in   
   which the requirement to report the tax slip corrections would “cost more…   
   than will be collected in revenue.”   
   >   
   > In that case, which involved limited partnerships units of a mining firm,   
   the correction involved “very small amounts, with even smaller income tax   
   revenue effects.” Most of the 598 clients affected, some 86%, “would have   
   received tax slips with    
   pennies in income.”   
   >   
   > The letter suggests the change could help with federal government efforts to   
   “eliminate red tape” and would not have to live with reduced income tax   
   revenue. In the event that a taxpayer owed funds, these could be paid by the   
   securities-issuing firm    
   that made the error in the first place, the investment industry association   
   suggests.   
      
   It is now easier and less taxing just to go offshore.   
      
   Why bother with the Canadian bu11sh1t?   
      
      
   --   
   Liberal-socialism is a great idea so long as the credit is good and   
   other people pay for it.  When the credit runs out and those that pay   
   for it leave, they can all share having nothing but debt and discontentment.   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)