Wednesday, August 10, 2005

Ottawa spends more to catch tax cheats

Ottawa plans to spend $30 million to create 11 new centres to hunt down tax dodgers.

Maybe if they reduced taxes, some individuals wouldn't be so inclined to cheat?

2 comments:

Shawn said...

Ironic in that they are the worst people around for fudging numbers.

Anonymous said...

SO EXACTLY WHAT'S THIS ALL ABOUT?


ARE THEY ADDING UP THE DOLLARS THEY'LL NEED FOR THIS?
http://www.canada.com/ottawa/ottawacitizen/news/letters/story.html?id=ce74d17b-01c2-41f9-aa0d-a802edf2c552


DOES THIS MEAN THAT THEY'LL BE PAYING A VISIT TO THESE GUYS?
http://www.parl.gc.ca/38/1/parlbus/chambus/house/debates/070_2005-03-11/han070_1305-e.htm


BUT I GUESS IT'S TOO LATE TO GO AFTER THESE GUYS?
http://www.parl.gc.ca/36/2/parlbus/chambus/house/debates/079_2000-04-05/han079_1715-e.htm


AND WHAT ABOUT THIS ONE?
http://www.cbc.ca/stories/print/2003/06/24/radwanski_folo030624


IF THEY JUST NEEDED MORE MONEY WOULDN'T IT BE JUST AS EASY TO GET SOME FROM THEIR PROVINCIAL FRIENDS:
http://www.canoe.ca/NewsStand/TorontoSun/News/2004/12/01/750688.html

Public Trustee shocker
By ANTONELLA ARTUSO, QUEEN'S PARK BUREAU CHIEF
Wed, December 1, 2004

"LESS THAN CAREFUL" investment practices cost Ontario's most vulnerable citizens millions of dollars in assets while under the management of the Public Guardian and Trustee, the provincial auditor has found. One legally incompetent senior lost almost $3 million after the Public Trustee left 80% of the assets in Nortel, despite a warning from a financial planner to diversify the portfolio.

Acting auditor Jim McCarter said other clients have lost in the hundreds of thousands of dollars.

"I have to characterize it as being less than careful," McCarter said. "The Trustee Act says you have to diversify your assets."

MANAGES $1 BILLION IN ASSETS

The Public Trustee manages $1 billion in assets on behalf of vulnerable people, mostly frail seniors in institutions and minors without family to manage their affairs.

McCarter red-flagged the office's decision to offer a contract to manage a substantial amount of funds to a company that has rarely outperformed the TSX Composite Index.

Attorney General Michael Bryant, who is responsible for the agency, said yesterday no Public Trustee client has lost money overall, although steps may not have been taken to maximize portfolios.

The auditor also pointed to problems the Public Trustee office is having in locating the heirs of clients who died. As of December, the Public Trustee had 1,785 outstanding estate files worth up to $87 million.

"The deceased person's assets become the property of the Crown if the heirs are not located and assets are not distributed within 10 years after the deceased person's death," says the auditor's report.

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