From: not@home.anymore   
      
   Canuck57 wrote:   
      
   > 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.   
      
   Pretty much my opinion of him as well.   
   I had more faith before he started plugging the book.   
      
   > 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.   
      
   If you don't have money offshore, you are getting hosed.   
   It is VERY easy to open an account in Bermuda and they don't need a   
   large starting deposit like the Cayman Islands. There are other good   
   countries as well that aren't in Europe.   
      
   Unless things have changed in the last couple months, they disclose   
   NO information to anyone if it involves crimes against a government   
   (aka taxes) but they will drop a dime on you if they figure it is   
   illegal money like from drugs etc.   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)