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

[MXD]

Become a Leafs fan.

She's already.

 

[dannyfinn22]

Screw that!1 Habs pay the most taxes in the NHL by far as well as give money to the Bettman Revenue Sharing Program to keep some of his Yank teams afloat.. Hide it All, Geoff.

 

[uiCk]

The point is you are spending time away from what you are paid to do. So you are doing something you feel you can get away with.... The same thing Molson is doing. Expecting people to police themselves does not work.

that''s some terrible logic right here.

The law will figure out if whatever has been done by the habs corp. was legal or illegal.
Using expected downtime at your work for non related work is not illegal, nor unethical. Your clearly just arguing for sake of arguing.

 

[haseoke39]

If it's not against the law, it's up to us and our representatives to change the law to what we want it to be.

 

[Hoople]

She's already.

I know. I love reminding her that we all know it and they don't have to pretend any longer.

 

[LaP]

I wonder if people must pay to print the Paradises papers?

 

[LaP]

I wish I could have offshore accounts

You can. Will you sleep at night knowing you legally "steal" money of normal people working hard for it is another story though.

 

[Runner77]

I wonder if people must pay to print the Paradises papers?

How did you guess? Geoff will do it for you for an extra $150.

 

[LaP]

everything is legal and within the law.

I would need to check but technically not paying your taxes is against the law. I would not be too quick to say using loopholes is 100% legal.

https://en.wikipedia.org/wiki/Tax_avoidance

Laws known as a General Anti-Avoidance Rule (GAAR) statutes which prohibit "tax aggressive" avoidance have been passed in several developed countries including Canada, Australia, New Zealand, South Africa, Norway, Hong Kong and the United Kingdom.[5][6] In addition, judicial doctrines have accomplished the similar purpose, notably in the United States through the "business purpose" and "economic substance" doctrines established in Gregory v. Helvering and in the UK through the Ramsay case. Though the specifics may vary according to jurisdiction, these rules invalidate tax avoidance which is technically legal but not for a business purpose or in violation of the spirit of the tax code.[7] Related terms for tax avoidance include tax planning and tax sheltering.

http://barretttaxlaw.com/general-anti-avoidance-rule-gaar/

https://www.canada.ca/en/revenue-ag...voidance-rule-section-245-income-tax-act.html

 

[Grate n Colorful Oz]

Another day living in a plutocracy. What's new?

 

[Grate n Colorful Oz]

that''s some terrible logic right here.

The law will figure out if whatever has been done by the habs corp. was legal or illegal.
Using expected downtime at your work for non related work is not illegal, nor unethical. Your clearly just arguing for sake of arguing.

When I read her posts now, I automatically translate it to "Habs can do no wrong".

 

[Runner77]

I would need to check but technically not paying your taxes is against the law. I would not be too quick to say using loopholes is 100% legal.

Depends why you're not paying your taxes. There are precedents. If your company can avail itself of a tax advantage that some other company or your competitor is using, then you will be at a competitive disadvantage relative to the market if you don't do the same, provided of course you are acting within the purview of the law. From what I remember about off shore holdings, a taxpayer had a certain time frame within which to come forward and declare, so as to not risk penalties, interest and other measures. However, that's not even what is being argued here since the Canadiens are claiming that their activities are legal and compliant with the existing Canadian laws.

 

[dinodebino]

This a very interesting thread.
Question I would have is: it seems to have been old trust funds (80's); why were they closed? 2010? When did Fintrac start being agressive on that front? Mmmm...

 

[MisterNoItAll]

If you’re not happy with the ethics of this, then don’t support the team fiscally, that simple.

 

[beowulf]

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.

Really sad post and shows how their are no ethics at all anymore.

 

[LeHab]

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.

Are you fine with a company earning 100M to close shop in Canada, laying off employees and moving offshore to minimize cost impact?

 

[LeHab]

If you’re not happy with the ethics of this, then don’t support the team fiscally, that simple.

Hollywood accounting, Apple, Google and many others have offshore deals to minimize tax impact. You may as well go live in the woods.

If someone wants to make society better go work for a non-profit or volunteer. Business have other goals.

 

[Habs Halifax]

Are you fine with a company earning 100M to close shop in Canada, laying off employees and moving offshore to minimize cost impact?

Yes, Because when you profit $100M, there will be other people to open up for business in replace of the ones who want to go offshore. This offshore thing you bring up don't make sense. Companies are already doing this even with no maximum salaries. I get what you are trying to say but all you are really doing in the end is justifying things for the 10% of the population who own 90% of the money. Who's side are you on?

If you get the G8 to come together on an agreement towards Maximum salaries and all countries within the G8 and possibly more buy into to, Greedy companies and people won't have much choice. If you fight $100M salary, you should be attacked because you are the root of the problem!

Where the is change, there is opportunity but for some reason, we are fooled to think that change is negative. There is a way to make this work, we just need some smart people willing to find a solution.

 

[LaP]

Hollywood accounting, Apple, Google and many others have offshore deals to minimize tax impact. You may as well go live in the woods.

If someone wants to make society better go work for a non-profit or volunteer. Business have other goals.

Pirates have other goals when they pirate too. Doesn't make it right.

Taxes evasion is technically speaking not legal.

 

[LeHab]

Yes, Because when you profit $100M, there will be other people to open up for business in replace of the ones who want to go offshore. This offshore thing you bring up don't make sense. Companies are already doing this even with no maximum salaries. I get what you are trying to say but all you are really doing in the end is justifying things for the 10% of the population who own 90% of the money. Who's side are you on?

I'm simply being realistic. Sure someone may come in but now this business has to compete against the other one who has a financial advantage.

A little bit like a hockey team that can offer a better financial deal to attract a coveted player because of lower taxes. While not the only factor, we know it does have an impact.

 

[Habs Halifax]

I'm simply being realistic. Sure someone may come in but now this business has to compete against the other one who has a financial advantage.

A little bit like a hockey team that can offer a better financial deal to attract a coveted player because of lower taxes. While not the only factor, we know it does have an impact.

There are many problems for sure in any system. I just don't like the track we are on... Too many people struggling today because greedy companies want record profits.

 

[MXD]

If you’re not happy with the ethics of this, then don’t support the team fiscally, that simple.

See... I totally agree with this line of thinking, since the Canadiens are mostly a source of discretionary expenses.

But mostly all everyday necessities are made by some kind of entity that benefitted of a kind of fiscal evasion. And if you can enjoy life with absolutely NO everyday necessities made by entities that benefitted of a kind of fiscal evasion, well, you're probably too rich to give any lesson to anyone, OR, living with your parents.

 

[Tyson]

Hmm? I think the rich should be taxed even more.

Spoken from someone who probably pays little to nothing. Easy to ask a different class who took risks and reached a certain level to pay even more.

 

[MXD]

Spoken from someone who probably pays little to nothing. Easy to ask a different class who took risks and reached a certain level to pay even more.

I don't necessarily disagree the above. Marxism à 2 cennes, very little for me.

But posting such a message in a thread about an asset belonging to the Molson family is more than ill-advised.

 

[LeHab]

Pirates have other goals when they pirate too. Doesn't make it right.

Taxes evasion is technically speaking not legal.

Tax evasion IS illegal, tax avoidance not so much. If a business conducts tax evasion I'm all for getting the hammer. Tax avoidance is the legal way of reducing your taxation.