Description: Many students have found value, pleasure and comfort in Ikea’s furniture. And they’ve gone on to be Ikea shoppers as they move into the world of work. But did you know the Swedish furniture giant also operates a humanitarian arm known as the Ikea Foundation? This Foundation, in typical Ikea fashion, has developed lightweight,… Read more »
Posts Categorized: Taxation
Real estate loophole
Description: The BC government has stated it intends to crack down on a tax loophole that appears to be allowing foreign investors to escape paying property transfer taxes in a red-hot real estate market. An investigation by the Globe and Mail revealed the disturbing news that some foreign investors were using trusts or transferring property… Read more »
Down, but is it out?
Description: Last week Globe and Mail political writer Jeffrey Simpson had a tersely worded warning for one Canadian province: “New Brunswick is flat on its fiscal back.” The article noted that New Brunswick is “the worst case in Canada” in terms of fiscal problems. One issue seems to be a reluctance to raise the harmonized… Read more »
Taxes and democracy
Description: A new film, The Price We Pay, is bringing to us the European debate about how to handle huge companies that use tax havens to shift billions in profits offshore. Companies like Starbucks and Amazon have already seen pressure on this issue. The film questions whether some of the tax havens may have received… Read more »
Mega-rich like Toronto
Description: According to a report released on March 5 by real estate consultants Knight Frank, Toronto ranks among key cities for the Mega-rich. Those with lots of money apparently see much that is attractive in Canada’s most populous city. Meanwhile, Sotheby’s International Realty Canada suggests that Toronto will continue to lead the luxury real estate… Read more »
Fines not enough
Description: It seems that even big fines are not enough to prevent financial institutions from helping their clients hide from tax authorities. The International Consortium of Investigative Journalists recently released various details about HSBC’s Swiss operation, where “piles of cash” were hid from taxing authorities. Britain appears to have generated roughly $200 million in revenue… Read more »
The big 80
Description: The charitable organization Oxfam released a report last week, adding another voice to the chorus of those raising alarm bells on rising global inequality. Oxfam’s report says that the richest 80 people in the world own as much as the 3.5 billion humans at the bottom of the economic scale. Oxfam calls for a… Read more »
How about that for a snub?
Description: One of the big book hits of the last year has been French economist’s Thomas Piketty’s Capital in the 21st Century. Pikkety’s 700 plus pager has generated debate with his call for a global tax on capital, a prescription he argues is necessary to assist low growth economies that see too much wealth in… Read more »
Do your homework before paying to get your taxes done
From the time of my first job, I did my own taxes — first, with the guidance of my parents; then later on my own. I initially filed paper returns by mail and later joined the growing number of Canadians who use Netfile. All that changed, however, about two years ago when my wife incorporated a business. We turned… Read more »
Corporate tax evasion ‘crackdown’ more bark than bite
Global efforts to stop companies from eroding tax base by moving profits offshore have no teeth, experts say Tax Evasion Tactics In December 2012, demonstrators led a country-wide protest against Starbucks over the coffee chain’s tax evasion tactics. A Reuters investigation found that through the magic of profit shifting, the company had avoided paying any… Read more »