SHUT THEM DOWN: Canada Must Ban The Use Of Offshore Tax Havens

The loopholes used by the elites must be closed.

The revelation that top fundraisers for Justin Trudeau put tens of millions of dollars into offshore trusts is causing tremendous anger throughout the country.

We know that without the sense and reality that the wealthy elite play by the same rules as the Canadian people, trust in government will continue collapsing, and our society will get even weaker. Additionally, the loss of revenue means higher taxes for the rest of us.

That’s why the government must ban the use of offshore tax havens.

The elites will obviously complain about it, and some in the establishment media might make some weak argument about how “we can’t do that,” but the truth is that it would be easy to accomplish.

After all, the Trudeau government just spent months ranting and raving about how they could close “loopholes” used by small businesses, so there’s no reason the government couldn’t ban the use of offshore tax havens.

Real tax fairness means low tax rates and the elimination of loopholes

Taxes are far too high right now, and only serve to feed the ever-growing bureaucratic government machine. It’s a big problem, because the government should never penalize success or punish those who create jobs. That’s why overall low tax rates are good for prosperity and good for growth.

With that in mind, we can see the clear difference between low tax rates and the use of tax loopholes.

The elites – including Trudeau’s top fundraisers – are using loopholes to pay less tax within Canada. Those are loopholes not used by most Canadians, meaning working class and middle class people are getting fleeced in comparison to those who have massive wealth and political connections.

That must come to an end, and since the Trudeau Liberals are obviously servants of the elitists, it will be up to other parties to get the job done. As a result, the Conservatives have a great opportunity here to shed the view many Canadians have (often rightfully so based on the past), that the Conservatives haven’t done enough to fix the corrupt system.

With Paul Martin, Brian Mulroney, and Jean Chretien listed in the Paradise Papers report on offshore accounts, both the Conservatives and Trudeau Liberals are connected to it.

Calling for a total ban on the use of offshore accounts would be a great way for Andrew Scheer to show that he is different and is willing to stand up for real Canadians. Of course, he would have to follow through on it or pay an electoral price.

Canadians know that the use of offshore accounts should have been banned years ago, and Canadian taxpayers deserve to see it happen. Until it does, our tax system remains broken and corrupt.

Spencer Fernando

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9 comments Add yours
  1. Refresh my memory. Did Chretien as PM not let a wealthy family move money to the US without charging an inheritance tax???

    1. No,that was Brian Mulroney,who let the Bronfmans move 2 billion dollars to the Bahamas in 1991. Five years later,auditor general Denis Desautels discovered the matter and attempted to initiate an action against the Bronfmans.Chretien stepped in and the matter was dropped.

  2. I think people should be able to invest in whatever country they want, nonetheless anyone whose primary domicile is Canada should be required to declare all global income and pay Canadian taxes on whatever their global income is. Now if someone wants to move to a tax haven, then they should not pay Canadian taxes since they are no longer in Canada or using our services nonetheless CPP payouts should be based on how much you’ve paid in and high income Canadians who live many years outside Canada shouldn’t be able to use our medical system until they pay up the difference. I don’t though support doing what the US does which is tax any citizen no matter where they live, that just encourages wealthy Canadians who may move abroad for legitimate reasons to renounce their citizenship. US is the only developed country that taxes its citizens no matter where they live, all other countries only tax those whose primary domicile is in their country although some may tax those who continue to own property in the country even if they don’t live there, but not those who have totally left. For those who live in Canada part of the year but less than 183 days (if you live here for 183 days you pay full taxes in Canada), their taxes should be based on the number of days they live in Canada. Otherwise you live in Canada for 100 days, you would pay 27% of whatever your total tax bill would be as 100 days is 27% of the year.

  3. Spencer,I know you are sincere in your demand, but Canada will eliminate the tax loopholes for the REAL rich the same day as Hell freezes over,and I don’t mean the town in Norway.

    We are a true North frozen banana daiquiri republic, with a democratic facade, controlled by a small cabal of filthy rich families. Diane Francis, who has written for the Financial Post for decades, says 32 families control five major corporations and own 40% of the wealth of Canada. What percentage they control,I don’t know,but a good example is Power Corporation,which has assets of $750 Billion,and manages assets of another $700 billion,for control of slightly over $1.4 trillion dollars.

    Canada is tightly controlled by these elitists,some call then the “Laurentian Elite”, and has been since Confederation,with a few additions to the cabal along the way.
    Thus, we will NEVER see the day Canada has true tax fairness,and it doesn’t matter which Party we vote into temporary management of the government,the Permanent Owners will always run things the way they like and to their advantage.

    Canada is NOT unique in this,every Country on the planet is controlled by a ruling elite. Go all the way back to the days where we lived in caves,and it was the same.Only difference now is it isn’t the guy with the biggest club who rules,but the guy with the best lawyers and business managers.
    Asking for tax fairness in Canada is akin to demanding we should all be able to fly,like Tinkerbell. It’s a lovely fantasy that will never come true. “Just think happy thoughts…..”

    Sit down,smoke a newly legalized joint,and enjoy one of the distractions the wealthy elite put on for us;sports, movies, bars, or my own personal favorite,Netflix, and enjoy yourself,secure in the knowledge that some things never change.

  4. Great article Spencer! Andrew Scheer is OUR LEADER who will be in the perfect position to implement the drastic cut on unhealthy loopholes that create a very bitter taste in everyone’s mouth. Furthermore, why go after the small guys of small businesses and just get a few hundred dollars a shot. Why not go after the big fish to get millions of dollars one at a time. ONCE AND FOR ALL , CLOSE THE TAX LOOPHOLES FOR THE RICH. Let’s have a referendum, across the country

  5. The ultra rich and entitled elites use the same book of taxes we all do. What we find absolutely disgusting and sickening is Trudeau and Morneau attacking small businesses for following the very same rule book. I can think of no Canadian more disliked, more disgusting than Trudeau.

    Double standards in Liberal land. Whatever they want they get, but when Canadians want the same treatment we are told to go to hell. Canada is a democracy only in the voting booth and the rest of the time we are a thinly veiled dictatorship.

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