Mulcair targets 'freeloader' corporations

taxslave

taxslave

Hall of Fame Member
Nov 25, 2008
36,362
4,340
113
Vancouver Island
petros said:
You obviously have no clue how tax credits work.

They know where every penny was spent to qualify for a credit.

You have to spend money before you get a credit.

As asked above:

Let's say a commercial painter incorporates. He gets a juicy contract of $100,000 for painting a hotel.

He pays himself $1000 a week ($52K) leaving $48K in the corporate name. Will he be paying 1 tax or 2?

What types of capital costs does the Corporation get credits for this one man operation and why?
Click to expand...

Unless he knows something I don't he is paying two income taxes.
But he would be foolish to take thst much in income. Better to take $24000 as income and the rest as dividends which are taxed at a lower rate, putting more real money in his jeans.
So is this the same as a tax credit? And is anyone tracking the lost tax revenue from being tax savvy?

Cannuck said:
You haven't answered mine yet. You clearly think you have to spend money in order to get a credit. Aside from the fact that has nothing to do with my argument, it is also wrong as my volunteer firefighter tax credit obviously proves.
Click to expand...

Not quite right. The firefighter tax creditworks for me because of my income but not as well for my son because he makes less than I do and also has two kids to claim. Some of our FFs say they get zero benifit from it.
 
Cannuck

Cannuck

Time Out
Feb 2, 2006
30,245
99
48
Alberta
taxslave said:
Unless he knows something I don't he is paying two income taxes.
But he would be foolish to take thst much in income. Better to take $24000 as income and the rest as dividends which are taxed at a lower rate, putting more real money in his jeans.
So is this the same as a tax credit? And is anyone tracking the lost tax revenue from being tax savvy?



Not quite right. The firefighter tax creditworks for me because of my income but not as well for my son because he makes less than I do and also has two kids to claim. Some of our FFs say they get zero benifit from it.
Click to expand...

Clearly you are having trouble following the conversation. Petros made the erroneous claim that you have to spend money first before you can get a tax credit. The firefighter tax credit is not conditional on money spent. He is clearly wrong.

petros said:
Nope.

Yup, big time.

The Feds and Provinces know to the penny.


Now, what handouts do I get as a producer?

List in full.
Click to expand...

Lol...nice dodge. Why are the questions too difficult to answer?
 
petros

petros

The Central Scrutinizer
Nov 21, 2008
117,236
14,251
113
Low Earth Orbit
As stated before it was idiotic.

What are my handouts?

BTW...My answer to the first question is a yes.

Because someone is given a credit doesn't make taxes uncollected.
 
taxslave

taxslave

Hall of Fame Member
Nov 25, 2008
36,362
4,340
113
Vancouver Island
Cannuck said:
Clearly you are having trouble following the conversation. Petros made the erroneous claim that you have to spend money first before you can get a tax credit. The firefighter tax credit is not conditional on money spent. He is clearly wrong.



Lol...nice dodge. Why are the questions too difficult to answer?
Click to expand...
More like he said you have to earn money to take advantage of a tax credit. Not quite the same thing.

In any event tax credits are not a gift from the government. Nor is it uncollected revenue. It is mostly a complicated way to cure a simple problem that employes lots of highly paid government workers. And buy a few votes.
 
petros

petros

The Central Scrutinizer
Nov 21, 2008
117,236
14,251
113
Low Earth Orbit
Not even close. Credits don't buy votes when they've be around for decades and CRA doesn't employ anywhere close to what they did before digital.
 
petros

petros

The Central Scrutinizer
Nov 21, 2008
117,236
14,251
113
Low Earth Orbit
You don't like MY Province rebating farm fuel taxes.

The Feds aren't involved.

Farm Fuel Program

Program Description

Fuel Tax Exemption Permit holders (i.e. farmers, commercial fishers, trappers and loggers) may purchase 80% of their gasoline tax exempt from registered bulk fuel dealers, cardlock or keylock operations for use in their farming, commercial fishing, trapping or logging activities. For administrative simplification, fuel dealers may apply a tax rate of 3¢ per litre on all gasoline sold (i.e. 20% of 15¢ per litre tax rate) for use in a farming or primary producing activity.

Fuel Tax Exemption Permit holders may also purchase marked diesel fuel and propane exempt of tax for use in their eligible farm and primary producing activities.j

Clear diesel fuel or fuel purchased from a retail service station or gas bar is not eligible for a fuel tax refund.
Registered bulk fuel dealers, cardlock and keylock operators will receive a 12¢ per litre refund or tax credit representing the 80% exemption for eligible farm gasoline sales reported through Saskatchewan Finance's automated up-front exemption system (AUFES).

Farmers and commercial fishers, trappers and loggers must complete a Farm Fuel Program Permit Renewal each year to:

Renew their Fuel Tax Exemption Permit; and Calculate and pay the fuel tax on gasoline and propane purchased with an exemption permit in the previous year and used for personal or non-farm business purposes

petros said:
What subsidies?

Lay them out in DETAIL if they exist.

Neither of can answer to your own bullsh-t accusations?

Why the f-ck not?

Clueless?
Click to expand...

Helllllllllo?
 
Corduroy

Corduroy

Senate Member
Feb 9, 2011
6,670
2
36
Vancouver, BC
petros said:
Helllllllllo?
Click to expand...



All our representatives are busy at the moment. Please wait on the line. Your call is important to us *smooth jazz*
 
damngrumpy

damngrumpy

Executive Branch Member
Mar 16, 2005
9,949
21
38
kelowna bc
The answer is there is no answer. Corporations do pass on the cost.
Corporations are the sum of many people retirement with their shares
invested in the companies. It amazes me when some people scream
against their environmental record in the third world while holding
retirement shares,
Remember in the seventies when price and wage controls were introduced?
At the time had they introduced wage-price and profit margin controls it
might and I say (Might) have made a difference.
That is one side of the argument the other side makes the case the companies
are not paying their fair share not anywhere near their share.
We have people starving cutbacks in services that are needed and we have
governments hard pressed for money. Instead of taxing at a fair rate people
from all sectors they give the companies a break so they'll hire and invest.
Instead they are holding large sums of money in reserve and not doing their part.
Mulcair is getting ready for an election and he knows their is discontent in the
tax system. The Tories are spreading their message true on not as well and the
Liberals are planning their targets as well.
Welcome to silly season, the election cycle and its part of democracy so enjoy.
 
petros

petros

The Central Scrutinizer
Nov 21, 2008
117,236
14,251
113
Low Earth Orbit
We have people starving cutbacks in services that are needed and we have
governments hard pressed for money. Instead of taxing at a fair rate people
from all sectors they give the companies a break so they'll hire and invest.
Instead they are holding large sums of money in reserve and not doing their part
Click to expand...
.

Let's get this right. They have money sitting in banks but banks aren't lending those assets to the masses with super low interest rates?

Money NEVER sleeps.
 
Cannuck

Cannuck

Time Out
Feb 2, 2006
30,245
99
48
Alberta
petros said:
Nooooo you claimed it was Fed credit.

Keep trying.
Click to expand...

Really? I can't seem to find that. I guess you are getting tired of not being able to refute what I'm saying so now you are refuting things I don't say. That's a smart move. It will probably work better for you
 
You must log in or register to reply here.
Top Bottom