News Article: Canadiens wrapped up in legal tax evasion leak - Paradise Papers

[Hockey POTUS]

It looks like the Canadiens are wrapped up in the "Paradise Papers" leaks.

This refers to roughly 3,300 Canadian companies, trusts, foundations and individuals whose names appear in a leak of millions of records from an offshore law firm and the corporate registries of 19 tax havens.

Basically, the Canadiens have been caught creating an offshore trust or corporation in countries where they pay little or no taxes, as a way to legally avoid — or potentially evade — paying taxes in Canada.

While this is legal, given Canada's lax corporate tax laws, it's dirty. I've been a Canadiens fan since I was a kid in the mid-70's. This is shameful. This team used to represent something, and it wasn't legal tax evasion.

Good work by the CBC and the Toronto Star (as well as an international consortium of journalists) for uncovering this. Molson needs to address this.

Click to read more...

 

[Habs Halifax]

It's called business and ethics are not part of it. It's all about what you can get away with these days. I choose to target the government vs the onces working around the rules. It's up the the government to create a fair playing field IMO. In business, if you value ethics and you are in competition with other companies that don't value ethics, you will lose.

 

[Hockey POTUS]

The Canadiens had a choice. And they chose not to pay Canadian taxes. Essentially, what you are saying is that you expect people in government to be ethical but not people in business.

 

[Seb]

Just another way for the Habs to rip us off.

 

[le_sean]

Fold the team and end my misery.

 

[DAChampion]

The Canadiens had a choice. And they chose not to pay Canadian taxes.

Do you pay extra taxes?

 

[Binary Code]

Everyone that has money has an offshore account.

You don't get rich playing by the rules lol

I mean my parents don't even make that much money and they need to find ways to invest their money so the government don't take it all. (All legal thought)

 

[MXD]

It sucks, but it's kinda like... Say, the City Tax Bill.

It always sucks. It also happens.

 

[ColinO]

I guess the rest of the country structures its affairs so as to pay the most taxes possible?

And by the way, there is no such thing as "legal tax evasion". If it's legal, then it's not evasion.

 

[MXD]

(This said, great investigative work by Toronto Star/CBC)

 

[Kriss E]

It's called business and ethics are not part of it. It's all about what you can get away with these days. I choose to target the government vs the onces working around the rules. It's up the the government to create a fair playing field IMO. In business, if you value ethics and you are in competition with other companies that don't value ethics, you will lose.

For a team that makes it a point to hire french and local people, this seems a bit hypocritical.
How do you also then tell your players they need to forfeit half their salaries to taxes when the company doesn't? Or do they tell the players to go through Appleby too and avoid paying taxes as well?...Which then makes the "tax" argument completely bogus..?

 

[Kriss E]

I guess the rest of the country structures its affairs so as to pay the most taxes possible?

And by the way, there is no such thing as "legal tax evasion". If it's legal, then it's not evasion.

Isn't that called a loophole?

 

[MXD]

For a team that makes it a point to hire french and local people, this seems a bit hypocritical.
How do you also then tell your players they need to forfeit half their salaries to taxes when the company doesn't? Or do they tell the players to go through Appleby too and avoid paying taxes as well?...Which then makes the "tax" argument completely bogus..?

Eh, this supposes the Habs are the only team doing that ...

 

[Habs Halifax]

For a team that makes it a point to hire french and local people, this seems a bit hypocritical.
How do you also then tell your players they need to forfeit half their salaries to taxes when the company doesn't? Or do they tell the players to go through Appleby too and avoid paying taxes as well?...Which then makes the "tax" argument completely bogus..?

There is a lot wrong with how business is allowed to operate these days. Rich are getting more greedier as time passes. I want maximum Salaries/Profits. When you made $100M a year, you made enough and you have to give back. If these people/companies don't like it, go operate somewhere else and we will give the opportunity to people who are ok with $100M a year.

 

[Kriss E]

Eh, this supposes the Habs are the only team doing that ...

No it doesn't, and this is about the Habs, so I don't really care what other teams do.

 

[MXD]

Isn't that called a loophole?

Loopholes are USUALLY covered by the GAAR.
If they aren't, they're legal.

 

[habsgirl5000]

Canadiens organization reminds me of the US Government, keep everything hush hush, don't tell the public anything....shady and slimy people

 

[MXD]

No it doesn't, and this is about the Habs, so I don't really care what other teams do.

Yes, it does....

 

[Hockey POTUS]

Do you pay extra taxes?

I don't have an offshore tax account where I can hide millions. Also, I don' t have millions or billions. If I did, and I was considered a national institution, I'd pay my taxes to support the people who pay my ticket prices.

 

[Kriss E]

Yes, it does....

Cool.

 

[David Suzuki]

It's called business and ethics are not part of it. It's all about what you can get away with these days. I choose to target the government vs the onces working around the rules. It's up the the government to create a fair playing field IMO. In business, if you value ethics and you are in competition with other companies that don't value ethics, you will lose.

This just calls in to question the relation between our richest and those who write the laws honestly. It shows a probable collusion between the two that makes our entire democratic process seem like a sham. When rules are written by & for the rich it's not surprising rich people screwing people over is not only legal but, as others have said, inevitable and indeed encouraged.

won't be long before the pitchforks come out for these people and that is basically the only thing keeping me going

 

[le_sean]

For a team that makes it a point to hire french and local people, this seems a bit hypocritical.
How do you also then tell your players they need to forfeit half their salaries to taxes when the company doesn't? Or do they tell the players to go through Appleby too and avoid paying taxes as well?...Which then makes the "tax" argument completely bogus..?

Great point. People are brushing it off “oh well that’s business”. It’s horseshit is what it is.

Same thing with Galen Weston. Him crying publicly about the minimum wage increase in Ontario. His company laying workers off in preparation for it and they announced a quarterly net profit of $230 million. And now he’s hiding money overseas too. f*** these people.

 

[MXD]

I don't have an offshore tax account where I can hide millions. Also, I don' t have millions or billions. If I did, and I was considered a national institution, I'd pay my taxes to support the people who pay my ticket prices.

See... I don't disagree with this.
But mostly because I don't see how the Canadiens gain ANY advantage by doing what they did. It's not like they need the extra funds to gain a competitive advantage anyhow (and I'm pretty sure it affects the other ventures of the Canadiens, too).

 

[Habs4Life]

everything is legal and within the law.

 

[Hockey POTUS]

Great point. People are brushing it off “oh well that’s business”. It’s horse**** is what it is.

Same thing with Galen Weston. Him crying publicly about the minimum wage increase in Ontario. His company laying workers off in preparation for it and they announced a quarterly net profit of $230 million. And now he’s hiding money overseas too. **** these people.

Great point about Weston and his complaints about the minimum wage. Billionaire who hides money in offshore accounts complains about paying a higher minimum wage.