From: Canuck57@nospam.com   
      
   On 21/07/2012 4:46 PM, Just Me wrote:   
   > Canuck57 wrote:   
   >   
   >> 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?   
   >   
   >   
   > Baggett is more interested in selling his book than anything else.   
   > He probably has an offshore account for the proceeds.   
      
   Probably.  I often wonder about Baggett's posts.  Often I think it is   
   the smell of polishing turds.   
      
   Smart money is going offshore.  Has been for 2 years.  Maybe I should   
   publish a book, modern investing when gov'mint debt and currency fraud   
   is running rampant.  How to avoid being screwed by your own gov'mint.   
      
   --   
   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)