September 22, 2017

Morneau still shelters income in SIX numbered companies — while plotting small business tax grab

Sheila Gunn ReidRebel Host | The Gunn Show

Prime Minister Justin Trudeau and finance minister Bill Morneau have been justifying their massive corporate tax grab by accusing farmers and other small business of incorporating, in order to cheat on their taxes and shelter their money in tax havens.

It’s a weird allegation from Morneau who, according to his Parliamentary Ethics Disclosure, has six companies to shelter his income, including the dividend he earns from shares in the family business, Morneau Shepell.

Bill Morneau said he sold off his 180,255 common shares in Morneau Shepell before he won his Liberal nomination. Those shares at the time were valued at $3 million.

But, assuming he hasn’t liquidated them, Morneau still indirectly owns 2,066,408 common shares in Morneau Shepell, worth about $32 million, through one of his numbered companies in Alberta.

And if you are a shareholder of Morneau Shepell, today you got some good news:

Your monthly dividend is being paid out on October 16. You’ll be making 6.5 cents per share!

Which means, if he hasn’t sold, Morneau’s September dividend for his shares in his family company will be over $134,000 — paid into that Alberta holding company he controls.

But if a farmer uses a dividend to pay for his child’s university education, according to Morneau, he’s a tax cheat.

Comments
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commented 2017-09-24 10:27:05 -0400
Jay Kelly, obviously you need to get information yourself. Even if The Rebel drew you a map; spent hours explaining this to you; and interviewed experts etc…you would intentionally misunderstand the report and post something ridiculous.
I would say it’s you with the problem! Stop blaming others for your conscious choices.
commented 2017-09-24 02:21:38 -0400
Greenville if you are going to keep repeating that comment you are going to have to explain yourself. Last time I checked revenue Canada does what the government of the day dictates.
commented 2017-09-24 02:09:29 -0400
Apparently The Rebel should provide some more information on taxation in Canada. The Liberal government’s approach to closing tax-loopholes has met with considerable opposition. That is understandable, since a lot of small-business people stand to pay more taxes. Those doctors, professionals, and yes, farmers, who show their income going through a business rather than as personal income.

Some want to attack Bill Morneau and others because they are wealthy. Why should the wealthy have to apologize for what they have done? But they should all be subject to fair tax laws.
commented 2017-09-23 22:38:44 -0400
“I worked in this exact area of taxation for almost 35 years. "

Holy geez! You might just be the world’s oldest living parasite!
commented 2017-09-23 21:46:08 -0400
Michael J Greenville, You are always stating that people are in no position to post on anything…..tonight’s post isn’t any different. You have nothing to offer, and, re-read past rebuttals – it will save us a lot of time!
I seem to remember a post of yours, and, the takeaway : you are a George Soros groupie, and, admired his investment strategies. I recall suggesting that you figure out why you lack a conscience and wished you luck with that.
commented 2017-09-23 20:06:03 -0400
All of the hand-wringing over the tax thing is deliberate misinformation!
I worked in this exact area of taxation for almost 35 years. The proposals are nothing more than the restating in more definite legislative language of rules that have ALWAYS EXISTED. Nothing is changing. Those that tell you otherwise, like the author of this article, or the Federal Conservatives are lying, plain and simple.

There is a 63-page discussion paper on the topic. Until you have read that document, you are in NO POSITION to give an informed opinion on the issue, and you are being led by the nose by either shit-dusturbers or those who want to continue using what have been loopholes for their own benefit at your cost.
Inform yourselves before buying into other people’s bullshit! (That is all that I have been advocating whenever I have posted on here.)
commented 2017-09-23 16:46:16 -0400
Lieberals are known for their creative ways to dodge paying their taxes. They are also known for cheating others and lying about it. Look at Wynne for a perfect example.
commented 2017-09-23 13:42:40 -0400
William Elder commented…
" Papa Doc profited selling his Petro Fina assets at double their value to Petro Canada, Chretien sold his Albatross golf club through a BOC loan, Martin detaxed his CSL interests – perfidy and avarice-ethic drives the LPC leadership – this is what Kleptocrats do – what has changed….except the electorate’s IQ taking a nose dive. "

.
Thanks for the info. I’m surprised there were no Congressional Hearings on these activities …. ooops wrong country… Hey this is Canada – anything goes.

ps. You were right about Tater Tot knowing sfa about taxation. What do you expect from a former camp counselor, snowboarding instructor and ski bum.
commented 2017-09-23 12:47:25 -0400
Ron Christensen commented…
" Is it just me or does Morneau look like a really shady used car salesman ? "
  • * * * * *


It’s not just you.
Bill ‘MoreDough’ is a silver-tongued crook.

Liberals: “Your money is our money”
NDP: “Your money is everybody’s money”
Conservatives: “Your money is your money”
Vote Conservative 2019.
commented 2017-09-23 12:42:47 -0400
“Diario las Americas claims that Maria Gabriela Chavez, 35, has $4.2billion in assets held in American and Andorran banks.
Hugo Chavez famously declared ‘being rich is bad’ and during his lifetime railed against the wealthy for being lazy and gluttonous. "

Read more: http://www.dailymail.co.uk/news/article-3192933/Hugo-Chavez-s-ambassador-daughter-Venezuela-s-richest-woman-according-new-report.html#ixzz4tWLtBrgX

What’s the difference?
Canada introduces it’s new elite class.
Feed your pets well why you can, you may need them later.
“Let them eat cake!”
commented 2017-09-23 12:39:07 -0400
As I keep telling Canadians, SHUT OFF THE TAPS TO ALL GOVERNMENT COFFERS NOW!!! AND, PULL ALL YOUR MONEY OUT OF ALL THE BANKS AND LET THIS GOVERNMENT COME CRASHING DOWN NOW BEFORE IT IS TOO LATE AND WE ARE ALMOST AT THAT POINT WITH ONLY ABOUT 26 MONTHS TO GO! SNAP OUT OF YOUR LIBERAL/POLITICAL CORRECTNESS COMAS , CANADA AND WAKE THE HELL UP! YOU AREN’T GOING TO HAVE A COUNTRY, A PLACE TO LIVE, MONEY, HOUSING, FOOD, CLOTHING, OR ANYTHING ELSE IF THIS NO GOOD BASTARD AND HIS TERRORISTS/ELITES GET IN AGAIN! YOu have allowed this to go on TOO LONG NOW and he is attaining more power, more control and taking more from us while becoming an islamic TYRANT each and every day! He is a TRAITOR WHO ABSOLUTELY HATES WE CANADIANS- ESPECIALLY WE WHITE ANGLO CANADIANS AND HE HATES EVERYTHING THIS COUNTRY STOOD FOR! YOU ARE ALLOWING HIM AND HIS SUPPORTERS TO DESTROY YOUR LIVES AND COUNTRY. WHERE DO YOU ALL PLAN TO FLEE TO BECAUSE WE LOSERS WHO ALLOWED THIS MENTALLY ILL, INTELLECTUALLY CHALLENGED ISLAMIC BASTARD AND HIS SPECIAL PEOPLE TO TAKE EVERYTHING FROM US ARE NOT GOING TO BE WELCOMED INTO ANY OTHER COUNTRY! THEY DON’T NEED COWARDS AND TRAITORS AS I’M SURE THEY ALL HAVE ENOUGH OF THEIR OWN!
commented 2017-09-23 01:52:41 -0400
The filthy corrupt Laurentien elite at work again….and meanwhile “Zoolander” Trudeau is throwing all of Canada under the bus to try to secure his UN sycophant seat.
commented 2017-09-23 00:16:20 -0400
PETER BABICH commented 4 hours ago
Anytime Trudeau tries to be serious, you know he’s lying. It’s when he’s off script he tells the truth.
________________________________________________________________________________

Peter, you also know he’s lying when he starts the “aahhh, Mmmmm… ahhhhh, harrumph, harrumph,, aaahhhh.”… ad nauseam.
commented 2017-09-22 22:03:05 -0400
Gerald and Justin spent months on that lame UNGA speech. Quite a few empty seats when Justin managed to get through his well rehearsed “bash Canada & suck up to the UN” talk. I listened to the entire thing, and noted, his usual speech problems were absent. Normally, he would ahhh, ummm, aaah etc…. until every one in the room rolls their eyes.

Morneau is a pathetic man, who works for a pathetic boss, who allows pathetic Marxists to run things for him.
commented 2017-09-22 20:43:59 -0400
Anytime Trudeau tries to be serious, you know he’s lying. It’s when he’s off script he tells the truth.
commented 2017-09-22 20:13:11 -0400
“Would the left please spare us their utter BS hypocrisy that they hate the rich and love the middle class”
;;-;-;-;-;-;-;-;-;-;-;-;-;-;-;-;-;-;-;-;-;-;-;-;-;-;-;-;-;-;-;-;-;-;-;-;-;-;-;-;-
They do love the middle class Drew… They love us in the same way they love beer and a steak sandwich.. we are only enjoyed well being consumed..!!
commented 2017-09-22 20:07:46 -0400
Amos.. Get a rope..!! Time for a little western justice in all fairness.!!
commented 2017-09-22 18:40:26 -0400
Oh do they care for the middle class! Except they never said that all self-employed, professionals and small business entrepreneurs are considered the rich people, of course except the 1% multimillionnaire and billionnaire class. The Libranos strategy: other than the 1%, everyone else must be brought down and lumped together into one class of slaves. Did you notice that the Libranos never talk about the poors or the working class blue collars? Simple, they are all middle class. There’s the 1% and there’s the rest, the 99%. And that 99% must be all equal. TruDope will fight to bring them all at the same level. Like a typical scumbag marxist.
commented 2017-09-22 18:31:51 -0400
Somebody erased this the first time.
The Fair Tax
Net WORTH TAXATION like property tax, only the loans would be deductible. Assets minus liabilities.
All citizens, born in the country and residence are taxable. Share owners and not the corporations are taxable.
Leases, food, travel, clothing, child care, child education and etc. become deductible.
Offshore and proceeds of crime must now be reported.
Fail to claim assets, 75% penalty.
$10,000,000 to $50,000,000 @ 1.0% ,,
$50,000,000 to $100,000,000 @ 2.5% ,,
$100,000,000 to $1 billion @ 5.0% ,,
$1 billion to $5 billion @ 7.5% ,,
$5 billion to $10 billion @ 10% ,,
$10 billion to $15 billion @ 15% ,,
$15 billion to $20 billion @ 20% ,,
$20 billion to $25 billion @ 25% ,,
$25 billion to $30 billion @ 30% ,,
$30 billion to $35 billion @ 35% ,,
$35 billion to $40 billion @ 40% ,,
$40 billion to $45 billion @ 45% ,,
$45 billion to $50 billion @50% ,,
etc. ,, etc. ,, etc. ,, etc. ,,
commented 2017-09-22 17:24:29 -0400
Remember when MoreNow and Baby Doc were going to treat employment benefits, like Blue Cross coverage, as taxable income?

How did that turn out?

Oh right, the public service unions said, “NO! UNFAIR!” MoreNow and Baby Doc quickly agreed with the paymasters.
commented 2017-09-22 17:08:58 -0400
Papa Doc profited selling his Petro Fina assets at double their value to Petro Canada, Chretien sold his Albatross golf club through a BOC loan, Martin detaxed his CSL interests – perfidy and avarice-ethic drives the LPC leadership – this is what Kleptocrats do – what has changed….except the electorate’s IQ taking a nose dive.
commented 2017-09-22 16:41:23 -0400
Simply a slime bucket in a suit.
commented 2017-09-22 16:11:03 -0400
Would the left please spare us their utter BS hypocrisy that they hate the rich and love the middle class, they spout off while they support the Libs and rich celebs who point their dirty fingers. If you left wing twits want to be slaves to these people then go right ahead, do not choose slavery for me or anyone else.
commented 2017-09-22 16:08:43 -0400
So sick of these filthy hypocrites who screw over hard working people while they fill their own greedy pockets. And sick of the left wing scum who defend them while they leech and sit on their asses virtue signalling. I wonder if Andrew will be along to make some up some BS as to why it is different for Morneau as opposed to those horrible farmers? And of course Jimmy the blind liberal cleric will not even comment, he thinks it is not happening if he does not pay attention.
commented 2017-09-22 16:01:10 -0400
Is it just me or does Morneau look like a really shady used car salesman ?
commented 2017-09-22 15:46:11 -0400
Liberals are entitled to their entitlements AND their tax shelters.
From The Ground Up