Monday, 25 June 2018

DioBLOG

The pursuit of BIGGER tax refunds can be a dangerous trap.

Come tax time, Canadians and their media are obsessed with tax refunds. Getting money back when you file your tax return seems to be the greatest good, and the standard by which tax preparers are measured. Mobile signs on street corners advertise BIGGER refunds. Advisors on their internet blogs offer sage advice for putting your refund to the most advantageous use. One such advisor even suggested giving the proceeds of a tax refund to adult children to help with the downpayment for a house. (Just how BIG a refund does he believe is to be expected?) It makes one question the legitimacy of the expectations created by the accounting industry. Apparently, the bigger the refund, the better the accountant. 

In counterpoint to this commercialized and frantic pursuiot of a bigger tax refund, DioGuardi submits, based upon many decades of tax practice and an intimate understanding of the Canada Revenue Agency, that the true golden mean of tax is to pay what you ought to pay, and not a penny more or a penny less, according to the tax rules enacted into law by the people you elect as your federal and provincial representatives.

The Full Story...

The Panama Papers: Legalized Tax Evasion for the rich and powerful

April 8, 2016

On Monday the media was abuzz over the leak of millions of documents from the files of a Panamanian law firm famous for helping wealthy, famous, and politically influential people hide money in offshore shell companies. High on the list of names were Vladimir Putin, the late father of British Prime Minister David Cameron, and Prime Minister Sigmundur Gunnlaugsson of Iceland. Crime bosses and movie stars took second billing, followed by thousands of lawyers and business people whose names were far less sensational, in media terms.

The Full Story...

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Words to live by?

 

 

Income tax returns are the most imaginative fiction being written today.

Comment posted on CBC.ca Business News page April 30, 2012 - TAXFILING DAY

http://www.cbc.ca/news/business/taxseason/story/2012/04/24/f-taxseason-tax-evasion-penalties.html

34 likes. 14 dislikes. The likes have it.