News Article: NHL must step in to stop shady Senators owner Eugene Melnyk

[BonkTastic]

... Lets say you register a "charity" and over the course of operating this charity you raise $1,000,000. You pay yourself some salary for running the charity. You pay your wife for running some of the work as well. Heck, pay your kids and your friends too.

*Mark Gandler has entered the chat*

 

[BloodRedArmy]

"have to transfer its property to an eligible donee or be subject to a revocation tax equivalent to the full value of its remaining assets (under Part V of the Income Tax Act)"

For clarification. Lets say you register a "charity" and over the course of operating this charity you raise $1,000,000. You pay yourself some salary for running the charity. You pay your wife for running some of the work as well. Heck, pay your kids and your friends too. If the CRA comes along and decides to perform a review *cough audit cough* and they determine you do not meet the definition of charity, you have to give that $1,000,000 to another registered charity. If you don't. They are taking your stuff.

Life lesson. Don't be a dick and make a fake charity because you are smarter than everyone else. You are not. You will get caught.

*This little blurb does not reflect on the previous incident discussed. It should not be interpeted as such. It is merely an explanation of what would happen in a hypothetical situation.

Gotcha. (taps nose twice).

 

[Stylizer1]

Well if you go into battle where your leaders are Melnyk and Dorion who are a glutton for punishment then you can guarantee that they are battled tested.

 

[Sens of Anarchy]

 

[Spartachat]

If he pays his lawyers like he pays his staff and players, Ruddy's team his going to eat him alive.

 

[BloodRedArmy]

If he pays his lawyers like he pays his staff and players, Ruddy's team his going to eat him alive.

"I WANTED to stop doing shady things, but my lawyers wouldn't let me. So I'm not paying them".

 

[Nac Mac Feegle]

Definitely a shift in the winds happening.

Different feeling this time...with the "Eugene's Army" and paranoia and deflection ramping up, it does feel like something big is coming down the pipeline......