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vyelkin
Jan 2, 2011

Karach posted:

Providence?

I don't remember what it was called or even most of the details I just remember some story about two dudes with no medical backgrounds grifting like $8m in government funding to develop a homegrown vaccine in their garage

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sleep with the vicious
Apr 2, 2010

RealityWarCriminal posted:

nft company Celsius and its 400 million dollar investment from the QPP

AIMCo and the soon to be Alberta Pension Plan
Canadian Tire
Canadian tire REIT
geotab

DaysBefore
Jan 24, 2019

Precambrian Video Games posted:

drat, they went that far? Inconceivable.

Unscrupulous developers? Someone should get on that. Unrelated, but last year the province passed a law that allowed the Housing Minister to designate favoured developers and personally intervene to bypass municipal governments and fast-track their developments. Oh well

Suplex Liberace
Jan 18, 2012



vyelkin posted:

I don't remember what it was called or even most of the details I just remember some story about two dudes with no medical backgrounds grifting like $8m in government funding to develop a homegrown vaccine in their garage

thank you Big Based Brian Pallister for giving the garage vax dudes all my tax money

Karach
May 23, 2003

no war but class war
drat I miss Brian and his big narcissist dad energy

https://www.youtube.com/watch?v=fymiRUp-L0E

https://www.youtube.com/watch?v=m_9DuGG0qbk

https://www.youtube.com/watch?v=i6llxnmKPVo

Karach has issued a correction as of 02:21 on May 18, 2024

mediaphage
Mar 22, 2007

Excuse me, pardon me, sheer perfection coming through
https://twitter.com/globalnews/status/1791480037557821750

Karach
May 23, 2003

no war but class war

two enormous babies will flail at each other with adorable pudgy limbs for our amusement

quote:

In a ruling released earlier this month, an Ontario Superior Court judge dismissed the lawsuit against Isabel Vincent, a reporter who was a guest on the episode, but ruled it should proceed against Brown and Canadaland.

The ruling by Justice Edward Morgan found there is no reason to believe Brown and Canadaland have “any valid defence,” noting the episode omitted key information in a way that undermined its objectivity and Brown showed a “callous disregard” for Theresa Kielburger’s reputation in an affidavit.

I can't believe the company that cited Bellingcat and a NED goon for their Ukraine war episode would have trouble with journalistic integrity

maybe it's time for the decent people at Canadaland to tell Jesse to gently caress off. I think Goldsbie in an episode a while back hinted at how pissed off the staff has been with his behaviour since October 7th.

sleep with the vicious
Apr 2, 2010
So if I'm reading that article right, WE had a 150k donation from Ontario Federation of Labour before they were even registered as a charity and their mom eventually donated it into a bank account that became the charity bank account, and this was a generally known thing in ontario media circles, and when canadaland did the WE scam expose they repeated the claim that specific incident was related to all of their other scams? Lol

mediaphage
Mar 22, 2007

Excuse me, pardon me, sheer perfection coming through
also lol

https://twitter.com/jessebrown/status/1791589417682874482

sleep with the vicious
Apr 2, 2010
Add Canadaland and whatever WE has certainly rebranded to onto the 2024 HAL list

mila kunis
Jun 10, 2011

flakeloaf posted:

is it because we didn't build a bunch of cheaply made buildings, never intending for them to be occupied, to prop up construction companies with busywork?

hte evil CCP is making cheap buildings in ghost cities in all the places they've genocided and replacing the people with cheaply made solar panels (through unfairly useing the power of the state)

Karach
May 23, 2003

no war but class war

"weirdly, the cowards who suggested I take a 'mental health leave' for being anti-genocide would not speak on the record about their love of genocide"

the Breach article is a good read, and not at all shocking given CBC's horrendous coverage of Gaza (and their longer history of pro-Israeli reporting). sure, maybe it "confirms my biases," but my biases are really, really good in this case.

DaysBefore
Jan 24, 2019

It's a very good read. Critical support to Comrade Pierre Poillievre when he guts the public broadcaster, loving worthless

Suplex Liberace
Jan 18, 2012



instead of destroying a very valuable thing. a public broadcaster they should just fire everyone and replace them

Karach
May 23, 2003

no war but class war
devolve all CBC power and funding to local soviets

PhilippAchtel
May 31, 2011

DaysBefore posted:

It's a very good read. Critical support to Comrade Pierre Poillievre when he guts the public broadcaster, loving worthless

Liberals are wrong for the right reasons

Conservatives are right for the wrong reasons

PhilippAchtel
May 31, 2011

Karach posted:

devolve all CBC power and funding to local soviets

DaysBefore
Jan 24, 2019

Maybe the CBC can pivot to their true strength, publishing ten thousand stories about how actually landlords are suffering more than anyone else, to rebuild their credibility

CN CREW-VESSEL
Feb 1, 2024

敌人磨刀我们也磨刀

DaysBefore posted:

Maybe the CBC can pivot to their true strength, publishing ten thousand stories about how actually landlords are suffering more than anyone else, to rebuild their credibility

ElehemEare
May 20, 2001
I am an omnipotent penguin.

DaysBefore posted:

Maybe the CBC can pivot to their true strength, publishing ten thousand stories about how actually landlords are suffering more than anyone else, to rebuild their credibility

investing outsized effort into a profile of a doctor who is also a landlord worried about how he will survive on only $250k/ yr net income after he retires at 43 ftw.

sleep with the vicious
Apr 2, 2010
Globe and mail is worried about landlords too:

[New rules on capital gains] outraged many cottage owners, who bought decades ago and have seen large enough gains to be impacted by the new tax rules. They consider themselves in the middle class – some of them struggle to afford their cottages as is – and resent the fact that they could be taxed at a higher rate when their cottage is sold or passed on as part of their estate.

For roughly 60 days a year, Jacqueline Baptist rents her cottage out on sites such as Airbnb. But she doesn’t think of the money as income, because it almost entirely goes toward upkeep for her four-season, four-bedroom property in Algonquin Highlands, the costs of which can exceed $10,000 a year.

Even in early pandemic years, where renting generated upward of $50,000 in income, much of that money went back into the property, whether that was for renovations, maintaining the access road or other maintenance that kept the home presentable for paying guests.

Now, Algonquin Highlands is imposing limits on short-term rentals and requiring owners to apply for permits and charge their renters a 4-per-cent tax on top of sales taxes. The charge only applies to short-term rentals, not hotels.

Ms. Baptist, who also owns a condo in Toronto but designates her cottage as her primary residence and lives there for roughly one-third of the year, says there are unknowns in the process: Will she be able to acquire a permit? Will the municipality inspect rental properties and require renovations that bring them up to certain codes?

If she isn’t able to acquire a permit, she’d have to dip into her registered retirement savings plan to pay yearly costs of holding the property. And with her mortgage renewal coming up in late 2025, she expects to take a large hit on monthly payments that have been anchored to a 1.89-per-cent rate in recent years.

sleep with the vicious
Apr 2, 2010
Add amateur landlords to the 2024 Hal list for sure

DaysBefore
Jan 24, 2019

Primary residence.... one-third of the year.....

RealityWarCriminal
Aug 10, 2016

:o:
it should be illegal for governments to make things more expensive. private corporations only

Puppy Burner
Sep 9, 2011
How can you possibly have $10k in upkeep costs per year? Are they renovating it yearly? Do they rent exclusively to arsonists?

sleep with the vicious
Apr 2, 2010
Tens of thousands in renovations per year and it still isn't up to code lol

These are the titans of industry we must protect from slightly raising the rate on capital gains taxes over 250k

DaysBefore
Jan 24, 2019

Scared the government might enforce safety codes on my passive income rental property that I declare a primary residence presumably for tax reasons. Better go whining to some journo

Karach
May 23, 2003

no war but class war

quote:

But she doesn’t think of the [rental] money as income

:allears:

Hubbert
Mar 25, 2007

At a time of universal deceit, telling the truth is a revolutionary act.

sleep with the vicious posted:

Ms. Baptist, who also owns a condo in Toronto but designates her cottage as her primary residence and lives there for roughly one-third of the year, says there are unknowns in the process: Will she be able to acquire a permit? Will the municipality inspect rental properties and require renovations that bring them up to certain codes?

DaysBefore posted:

Primary residence.... one-third of the year.....

Just casually dropping that little fact in there - yeah, my AirBnB is my principal residence, I just live there for a third of the year. I just happen to live most in another dwelling for the rest of the year.

Honestly, the entire article is incredible.

DaysBefore
Jan 24, 2019

I can only assume tax breaks right. loving parasites lol. And yeah it's almost as funny as a Toronto Life article

ARACHTION
Mar 10, 2012

Who wants to bet that the majority of the 10,000$ is payment to the cleaner (surely she does not do the cleaning and turnover for the unit), which is also paid for by the customer in the usury “cleaning fee” charged on Airbnb.

Whole generations are not having children because these loving boomers expect not just to always make 50,000$ off a rental property but to never pay anything in tax. That is what many people make a year working full time!!!!

I guess the article is having the desired effect of absolutely enraging me, and also making boomers sad that they are somehow also the victims here.

Karach
May 23, 2003

no war but class war

DaysBefore posted:

Primary residence.... one-third of the year.....

please don't put in the newspaper that I dwell there

DaysBefore
Jan 24, 2019

sleep with the vicious posted:

Add amateur landlords to the 2024 Hal list for sure

Hali's doing some zoning changes and all the lib YIMBY types are hootin and hollerin at the increase to 4 or w/ev units per lot by default but all I can see when I look at them is thousands of suburban homeowners putting a shed in their backyard and becoming landlords. It's the only thing the middle class knows at this point

Hubbert
Mar 25, 2007

At a time of universal deceit, telling the truth is a revolutionary act.

DaysBefore posted:

I can only assume tax breaks right. loving parasites lol. And yeah it's almost as funny as a Toronto Life article

And if she ever needs to sell her AirBnB because of those harsh taxes, she'll get the capital tax gains exemption for her principal residence! The system is working as intended!

:pseudo:

Dreylad
Jun 19, 2001

RealityWarCriminal posted:

Rime (rip) used to post constantly about shittily built condo towers that he would clean the windows of

there was another goon in construction who said the bones of most of those buildings are fine, it's just everything past the basic structure, electrical, heating, plumbing is poo poo (and those parts can be poo poo if the hookups to sinks/toilets/outlets is poo poo).


very lol given what the WE mom lawsuit is about

Dreylad has issued a correction as of 17:11 on May 18, 2024

vyelkin
Jan 2, 2011

sleep with the vicious posted:

If she isn’t able to acquire a permit, she’d have to dip into her registered retirement savings plan to pay yearly costs of holding the property. And with her mortgage renewal coming up in late 2025, she expects to take a large hit on monthly payments that have been anchored to a 1.89-per-cent rate in recent years.

if only there were some solution that would avoid all these problems and not have to dip into her retirement savings to maintain the property, that might even possibly involve her getting a large financial windfall in the process

ah well, guess nothing can be done

Hubbert
Mar 25, 2007

At a time of universal deceit, telling the truth is a revolutionary act.
On that note, and since it's the weekend, I'm crossposting this from Debt thread (thank u femtosecond :blessed:):

CRA uncovers $1.3 billion in unpaid taxes in B.C. real estate sector posted:

The CRA identified $957 million in unpaid income taxes over eight years of audits targeting B.C. real estate, more than five times the amount in Ontario, which has three times B.C.'s population

Dan Fumano - Published May 14, 2024

--



After taking a deeper look into B.C.’s real estate sector, Canada’s tax regulator has uncovered $1.3 billion in unpaid tax bills.

The Canada Revenue Agency has dramatically ramped up its auditing of real estate in recent years, scrutinizing both personal transactions and professional activities.

The agency has found “a disproportionate amount of non-compliance” in Canada’s largest metropolitan centres, with Metro Vancouver “identified as an area that requires our unique attention,” said Jason Charron, director general of the CRA’s compliance programs branch, recently. “We’re continuing to focus on the Lower Mainland, where we know there’s non-compliance.”

Since launching a dedicated real estate task force in 2019, the CRA has mostly focused on Ontario and B.C., increasing the number of audits performed, sending out reassessment notices for billions in additional taxes the agency believes should be paid, and levying hundreds of million dollars in penalties.

In Ontario, the agency assessed $1.4 billion in unpaid taxes and penalties in the real estate sector between 2015 and 2023. B.C., which has about a third of Ontario’s population, had almost the same amount of tax non-compliance identified over the same period: $1.3 billion.

These real estate audits looked at a wide range of activities and entities: property-sellers illegitimately claiming the principal residence exemption, unreported capital gains, people who reside outside of Canada and invest in property here, share transfers and corporate structures designed to mask a property’s beneficial owners, and the activities of homebuilders and realtors.

Although the total value of unpaid taxes and penalties found in B.C. and Ontario was similar, the nature of non-compliance was markedly different in the two provinces. In Ontario, most non-compliance identified by the CRA in real estate was related to unpaid GST and HST on new homes or inappropriately claimed rebates on those taxes. In B.C., most of the non-compliance related to income tax.

Data provided by the CRA shows that the agency identified $957 million in income tax-related non-compliance in B.C. real estate between 2015 and 2023, more than five times the amount found in the larger province of Ontario, at $178 million, over the same period.

The CRA says confidentiality laws prevent the release of information about the audits, but sent a written statement that said, in general, the income tax-related non-compliance included:

• Situations where a taxpayer acquired an expensive home without a clear reported source of income

• Profits from the quick flipping of homes that aren’t properly reported as taxable business income

• People, including those who aren’t residents of Canada, failing to report capital gains on sales of real estate

• Unreported income earned outside of Canada

• Non-compliance by realtors and developers.

The CRA declined to say how which categories the $957 million broke into — for example, how much was related to property flippers or developers or non-residents — citing the need to protect taxpayer information and maintain “the integrity of our risk assessment system.”

The number of income tax-related audits CRA conducted in B.C. real estate increased by almost 10 times between the 114 audit files opened in the 2015 fiscal year and the 1,089 opened last year.

There has been a corresponding boom in what the agency calls “audit assessments,” meaning the combined value of unpaid taxes still owing and penalties levied. Income tax-related audit assessments related to B.C. real estate averaged $6.4 million annually for the two fiscal years between 2015 and 2017, and shot up to an average of $155.1 million annually over the most recent two-year period, a 2,300 per cent increase.

Canada’s 2019 federal budget included $50 million over five years for the CRA to create a real estate task force, with specialized audit teams. Last month, the 2024 budget boosted that funding to $73 million for the next five years.

This work seems to be “paying for itself and then some,” said Tom Davidoff, an associate professor at the University of B.C.’s Sauder School of Business. The findings show there was “obviously” some kind of problem with tax compliance in this sector, he said, “but what we don’t know is how big of a problem it is now … If there was a problem and they solved it, that would be fantastic.”

For years, many British Columbians were “ringing the bell” about people cheating on their taxes with real estate dealings, said Davidoff, director of UBC’s Centre for Urban Economics and Real Estate. This recent crackdown might not make housing in B.C. significantly more affordable, he said, “but it’s real money and it’s certainly useful to get it back where it belongs.”

Davidoff co-authored a 2022 paper published in The Canadian Tax Journal, which examined the top five per cent of Greater Vancouver homes had a median value of $3.7 million, while the median owner paid income taxes of just $15,800. This was the lowest correlation of property values to income tax contributions of any North American city, the authors wrote, concluding that “most luxury homes in Greater Vancouver appear to be purchased with wealth derived from sources other than earnings taxed in Canada.”

Considering these earlier findings, Davidoff said it makes sense that the CRA’s recent audits of B.C. real estate uncovered income tax “chicanery.”

Representatives of both the Greater Vancouver Realtors and the Canadian Home Builders Association of B.C. said they haven’t heard anything from their members about any recent increases or changes in CRA activity.

Canadians for Tax Fairness, a non-profit tax policy advocacy group, said it welcomes the CRA “doing more to ensure that the real estate sector complies with tax laws, and we encourage the government to adequately fund the CRA so they can do their job.”

In an emailed statement, Canadians for Tax Fairness spokeswoman Erica Shiner said: “Tax avoidance continues to be a problem in many sectors, costing Canadians billions in revenue each year.”

Gully Foyle
Feb 29, 2008

sleep with the vicious posted:

Globe and mail is worried about landlords too:

For roughly 60 days a year, Jacqueline Baptist rents her cottage out on sites such as Airbnb. But she doesn’t think of the money as income, because it almost entirely goes toward upkeep for her four-season, four-bedroom property in Algonquin Highlands, the costs of which can exceed $10,000 a year.

Hahahaha, gently caress you, how do you say and quote that and print it in a paper with any possible shred of dignity.

I guess I shouldn't think of my salary as income, cause it almost entirely goes to upkeep of my body in the form of groceries and rent payments.

Arc Hammer
Mar 4, 2013

Got any deathsticks?

Karach posted:

drat I miss Brian and his big narcissist dad energy

I dont. gently caress that guy, I hope a shark ate his tiny gym shorts.

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ElehemEare
May 20, 2001
I am an omnipotent penguin.

DaysBefore posted:

Hali's doing some zoning changes and all the lib YIMBY types are hootin and hollerin at the increase to 4 or w/ev units per lot by default but all I can see when I look at them is thousands of suburban homeowners putting a shed in their backyard and becoming landlords. It's the only thing the middle class knows at this point

I generally support the upzoning and backyard suites but god forbid we ever get to a point where the city lets us subdivide lots and someone can own their own backyard suite.

Also they aren’t upzoning poo poo in my very downtown neighborhood because a guy who died seven years ago launched a push for a Heritage Conservation district before he died.

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