Thanks for the new info. I hope that others will contribute and add to our store of knowledge.
The topic is very timely because of the populist blacklash around the world. Not many Vancouverites are aware that Ottawa has up the ante. It's now a cash grab.
"Ottawa to spend $500M on pursuit of tax cheats, budget reveals
Money will be used to hire more auditors and develop computer systems to “target high-risk international tax” evasion.
Tax auditors and fraud investigators have been given more than half a billion dollars to pursue tax cheats, and the government expects them to collect five times that much in additional taxes.
The 2017 federal budget pledged $523.9 million over the next five years to the Canada Revenue Agency to prevent tax evasion and improve tax compliance and has targeted both wealthy individuals and multinational corporations.
The investment comes on top of the $444 million pledged in last year’s budget, giving the CRA almost $200 million each year to hire more investigators and develop computer systems to “target high-risk international tax and abusive tax-avoidance cases,” according to the budget document released Wednesday...
Finance Minister Bill Morneau told Parliament that his department had identified ways individuals were using private corporations to avoid paying taxes, either by “sprinkling” their income into multiple companies, or by converting that income into capital gains, which is taxed at a lower rate.
“(These) strategies can result in some very wealthy individuals getting unfair tax breaks at the expense of others,” he said, promising targeted reforms soon..."https://www.thestar.com/news/canada/201 ... veals.html
No doubt that some highly paid professionals will get what they deserve. It's sad that third world practices have become common in Vancouver. Gotta stop it.