Mother:- Janice! -- What are you doing with that bundle of store receipts?
Janice:- I taking them back to the the store where I bought them to complain about the unreasonable billings they have been sending me. Would you believe that store has billed me for items I never received -- and this has been going on for the past six or seven years.
Mother:- Why in the world would you wait so long to bring this matter to their attention?
Janice:- Believe me Mother -- I have complained about this problem from the time it first appeared -- when the store was under the old manager -- J. Cretian. When I spoke to Cretians Complaints Manager he insisted on seeing proof that I hadn't received the goods I was billed for.
So I sent a letter to top management -- Mr Cretian himself.
Mother:- Well what happened -- didn't Mr Cretian correct the problem?
Janice:- No he didn't do a thing -- All I received back from Mr. Cretian was a letter telling me the complaints Manager acted properly in demanding proof of the missing articles so I sent a letter back saying how can I prove I didn't receive the missing articles -- I don't have them!
Then I received a second letter from Mr. Cretian saying:- "A proof is a proof and when you have a proof it is a proof." -- or words to that effect.
Mother:- What did you do then?
Janice:- Well when the store changed hands and Mr. Martin took over I took the matter back to the complaints manager at the store. The complaints manager was very polite. He Thanked me for bringing this matter to his attention and told me he would be sure that Mr. Martin would be made aware of my problem and that I would hear from him in the near future.
Mother:- What happened then?
Janice:- Nothing -- I received a polite letter from Mr. Martin's secretary advising me that my concerns were forwarded to the Revenue Collections Dept. for consideration and that I would hear from them in the near future.
Mother:- So the Revenue Collections then cancelled the billings for the goods you never received?
Janice:- Well No. The RC Dept. advised me that they have a "Fair Billing Policy" under which I can postpone payment of the money they billed me, -- on the goods I never received -- until I either sell the goods, trade the goods, leave the country or die. In the event any of these things happen then the billings must be paid.
Mother:- You mean to tell me that the store still expects you to pay for goods you never received?
Janice:- Yes -- that is exactly what I am telling you.
Mother:- So you are now taking this issue up with the new management?
Janice:- Yes -- The new managers have stated in their advertisements that they are more honest, more decent, more understanding of their customers and I intend to find out if they are genuine or the same as the previous store management.
Janice arrives at the Harper General Store and approaches the Customer Service Counter.
Customer Service Clerk:- Good Morning Madam -- is there anything I can assist you with today?
Janice:- Yes -- I have here my billing receipts going back for seven years and I have marked the items that I never received but the store has sent me a pay bill reminder on them.
Clerk:- Madam I am pleased to inform you that we are now under new management and Mr. Harper will be more than happy to attend to this problem.
Janice:- That would be great -- you know I have never been able to get any of the previous store management to do anything more than give me platitudes but no corrective action. Their RC Dept. still sends me bills to pay up or else.
Clerk:- Do you happen to live in British Columbia?
Janice:- No -- I live right here in Ottawa Ontario.
Clerk:- Oh -- thats too bad -- You know our regional complaints manager, Mr. G. Lunn was able to fix this kind of problem for his "JDS" customers in British Columbia -- for some unknown reason our other customers both in and out of British Columbia are still waiting for the same corrective action.
Janice:- Well what does the store's declared policy: "We practice fair and equal treatment of all our customers" really mean.
Clerk:- I think it means if you have enough clout the store management will give you the same treatment it gives all of its really powerful clients. Otherwise get lost.
Author's comment,
A story to illustrate the real situation experienced by victims of the "Taxable Benefits" scam where employee's of many companys were enticed to participate in thier employer's share purchase performance reward plans and are now saddled with large tax levy's on money they never received.
Victor Drummond
E-mail:- vic.drummond@sympatico.ca
Thursday, April 26, 2007
Wednesday, April 25, 2007
Is Global Warming a lot of Hot Air?
There has been a series of reports on scientific evidence that Greenhouse Gas Emmisions are threatening our planet by causing the average temperature around the globe to rise.
Well I have news for those harbingers of "The Chicken Little Syndrome" The temperature of the earth has been going up and down for billions of years and this current warming trend began over 20,000 years ago when the Northern Hemisphere was under a blanket of ice thousands of feet thick.
Melting of that ice layer resulted in an inland sea stretching from the Laurentian Shield all the way to the rocky mountains. The present great lakes, of North America, are the remenants of the melted glaciers that held Canada and the Northern USA in an icy grip for thousands of years.
Global Warming is real -- no argument there -- and I support the movement to reforest Canada and the USA and the reasonable cost of controlling air pollution. But throwing away billions of dollars to curtail industry, in the developed nations, while allowing under developed nations to continue to increase their GHG emissions does not compute -- as a genuine attempt to save the planet.
What does compute is a program to equalize industry costs between developed and under developed nations. A form of international social assistance.
Is there any real prospect of reversing the long term trend of global warming? Not likely because the trend began long before man had any influence on the environement -- and it will continue until the over all factors -- level of solar radiation for example -- goes through another low level period.
On the CBC News Program:- "The National", of Tuesday April 24th 2007, Peter Manbridge aired a new Documentary titled:- "The Global Warming Swindle" which expresses the opinion of another environmental scientist i.e. that the current hysteria over Global Warming is a scam.
I agree.
Check out:- http://loudmouthsays.blogspot.com/2005/04/buying-kyoto-credits-i-dont-get-it.html
Victor Drummond
E-mail vic.drummond@sympatico.ca
Well I have news for those harbingers of "The Chicken Little Syndrome" The temperature of the earth has been going up and down for billions of years and this current warming trend began over 20,000 years ago when the Northern Hemisphere was under a blanket of ice thousands of feet thick.
Melting of that ice layer resulted in an inland sea stretching from the Laurentian Shield all the way to the rocky mountains. The present great lakes, of North America, are the remenants of the melted glaciers that held Canada and the Northern USA in an icy grip for thousands of years.
Global Warming is real -- no argument there -- and I support the movement to reforest Canada and the USA and the reasonable cost of controlling air pollution. But throwing away billions of dollars to curtail industry, in the developed nations, while allowing under developed nations to continue to increase their GHG emissions does not compute -- as a genuine attempt to save the planet.
What does compute is a program to equalize industry costs between developed and under developed nations. A form of international social assistance.
Is there any real prospect of reversing the long term trend of global warming? Not likely because the trend began long before man had any influence on the environement -- and it will continue until the over all factors -- level of solar radiation for example -- goes through another low level period.
On the CBC News Program:- "The National", of Tuesday April 24th 2007, Peter Manbridge aired a new Documentary titled:- "The Global Warming Swindle" which expresses the opinion of another environmental scientist i.e. that the current hysteria over Global Warming is a scam.
I agree.
Check out:- http://loudmouthsays.blogspot.com/2005/04/buying-kyoto-credits-i-dont-get-it.html
Victor Drummond
E-mail vic.drummond@sympatico.ca
Tuesday, April 24, 2007
INCOME TAX versus OPPORTUNITY TAX
INCOME TAX -- A reasonable Tax in most cases
Every employed person in Canada, who has an annual income in excess of their basic personal exemptions, is taxed at both the Federal and Provincial/Territorial levels of Government.
All persons, in the same circumstances, are taxed at the same level, and although we do not like taxes the equality factor goes a long way towards our acceptance of the tax burden.
When we are taxed real dollars on real monetary income the system works to everyone's advantage, or disadvantage, equally.
But supposing you and your neighbour have identical incomes and identical family situations but for no good reason your income tax is several times larger than his! What then?
What if you then contacted Revenue Canada for an explanation and were told the extra taxes imposed on you are due to an opportunity that you had, (but missed), last year to receive an income that would justify those extra tax dollars -- What then?
Would you accept Revenue Canada's explanation and cheerfully fork over those extra tax dollars? NOT VERY LIKELY.
OPPORTUNITY TAX -- An unfair tax under any and all circumstances.
Believe it or not there are tens of thousands of Canadians who have been levied HUGE
taxes on pretend "Annual Incomes" that they never received.
For reasons beyond anyone's comprehension Revenue Canada has ruled that shares, of intangible value, have a tangible value BUT ONLY IF the person receives those shares from their employer. who happens to be incorporated in Canada and, who has shares trading publicly on a conventional stock exchange.
Under those circumstances the shares are ruled to be a "Taxable Benefit" from the moment they are ordered, (vested), and again when they are deemed to have been received, (exercised), which may be as much as a year later. Between the time of vesting and exercising the employee has no control over the shares whatsoever.
If the shares go down in value, during this interval, then the employee is not taxed, but can not apply any of the "LOSS" realized against any prior, or following, GAIN because the shares are classed as a "Taxable Benefit"(not a Capital Investment), and any potential gain is reported, at the current inclusion rate, as:- "Employment Income" -- whether the shares are actually sold or not.
The reported "Employment Income" inflated by the potential profit is then taxed at the level applicable to a real income of the higher level -- often resulting in a tax levy that is far greater than the employee's total real annual income. This unfair tax scheme has resulted in many participants, in their employer's share incentive/reward plans, being obliged to borrow money, and/or mortgage their homes in order to try and meet the ridiculous tax burden imposed on them.
Fair Taxation, according to Revenue Canada, consists of allowing those who had large potential "Employment Incomes", as a result of the "Taxable Benefit" scam, to apply for a deferment of up to $100,000 per year of "Taxable Benefit" taxes. The deferment can be renewed annually by filling out a form T1212 every year thereafter.
The deferment does not relieve the vicitm from eventually having to pay those taxes.
If the person sells, trades, or converts the subject shares, or the person leaves the country, or dies -- then the deferred taxes become payable immediately. Most vicitms of this unfair tax levy can not get as much as a tenth of the taxes owing by attempting to sell whatever shares they may have left.
This type of legalized robbery has been in existance through the recent terms of the prior Liberal government and for most victims is still in operation under the current conservative government. It appears that some correction was attempted by the current government when the Conservative MP, Gary Lunn in British Columbia, succeeded in getting a tax relief deal for some JDS Uniphase victims in his riding. This deal was reported by Columnist Jamie Golembek in an article that appeared, last fall, in the National Post Newspaper, titled:- "What about the rest of us?"
There are thousands of similar victims both in British Columbia and accross the rest of Canada, that have not received similar treatment and the present Government is keeping very silent on this issue -- to the present time. Not a very good performance for a Governement that has "Fair Taxation" in their policy statements.
To see other posted articles authored by Victor Drummond search google for this author.
Vic
Every employed person in Canada, who has an annual income in excess of their basic personal exemptions, is taxed at both the Federal and Provincial/Territorial levels of Government.
All persons, in the same circumstances, are taxed at the same level, and although we do not like taxes the equality factor goes a long way towards our acceptance of the tax burden.
When we are taxed real dollars on real monetary income the system works to everyone's advantage, or disadvantage, equally.
But supposing you and your neighbour have identical incomes and identical family situations but for no good reason your income tax is several times larger than his! What then?
What if you then contacted Revenue Canada for an explanation and were told the extra taxes imposed on you are due to an opportunity that you had, (but missed), last year to receive an income that would justify those extra tax dollars -- What then?
Would you accept Revenue Canada's explanation and cheerfully fork over those extra tax dollars? NOT VERY LIKELY.
OPPORTUNITY TAX -- An unfair tax under any and all circumstances.
Believe it or not there are tens of thousands of Canadians who have been levied HUGE
taxes on pretend "Annual Incomes" that they never received.
For reasons beyond anyone's comprehension Revenue Canada has ruled that shares, of intangible value, have a tangible value BUT ONLY IF the person receives those shares from their employer. who happens to be incorporated in Canada and, who has shares trading publicly on a conventional stock exchange.
Under those circumstances the shares are ruled to be a "Taxable Benefit" from the moment they are ordered, (vested), and again when they are deemed to have been received, (exercised), which may be as much as a year later. Between the time of vesting and exercising the employee has no control over the shares whatsoever.
If the shares go down in value, during this interval, then the employee is not taxed, but can not apply any of the "LOSS" realized against any prior, or following, GAIN because the shares are classed as a "Taxable Benefit"(not a Capital Investment), and any potential gain is reported, at the current inclusion rate, as:- "Employment Income" -- whether the shares are actually sold or not.
The reported "Employment Income" inflated by the potential profit is then taxed at the level applicable to a real income of the higher level -- often resulting in a tax levy that is far greater than the employee's total real annual income. This unfair tax scheme has resulted in many participants, in their employer's share incentive/reward plans, being obliged to borrow money, and/or mortgage their homes in order to try and meet the ridiculous tax burden imposed on them.
Fair Taxation, according to Revenue Canada, consists of allowing those who had large potential "Employment Incomes", as a result of the "Taxable Benefit" scam, to apply for a deferment of up to $100,000 per year of "Taxable Benefit" taxes. The deferment can be renewed annually by filling out a form T1212 every year thereafter.
The deferment does not relieve the vicitm from eventually having to pay those taxes.
If the person sells, trades, or converts the subject shares, or the person leaves the country, or dies -- then the deferred taxes become payable immediately. Most vicitms of this unfair tax levy can not get as much as a tenth of the taxes owing by attempting to sell whatever shares they may have left.
This type of legalized robbery has been in existance through the recent terms of the prior Liberal government and for most victims is still in operation under the current conservative government. It appears that some correction was attempted by the current government when the Conservative MP, Gary Lunn in British Columbia, succeeded in getting a tax relief deal for some JDS Uniphase victims in his riding. This deal was reported by Columnist Jamie Golembek in an article that appeared, last fall, in the National Post Newspaper, titled:- "What about the rest of us?"
There are thousands of similar victims both in British Columbia and accross the rest of Canada, that have not received similar treatment and the present Government is keeping very silent on this issue -- to the present time. Not a very good performance for a Governement that has "Fair Taxation" in their policy statements.
To see other posted articles authored by Victor Drummond search google for this author.
Vic
Introduction
The objective of this blogpage is to provide a media whereby items that impact on the political and general good of Canadians may be aired and analyzed.
The initial issue I plan to address is Unfair Taxation of Canadians and the current unequal treatment Canadian victims of the "Taxable Benefits" fiasco are currently enduring.
Other issues may also be addressed from:- "Global Warming" to Oxymorons such as "Democratic Minority Rights"
Readers Comments will be read and when warrented - acknowledged.
Vic
The initial issue I plan to address is Unfair Taxation of Canadians and the current unequal treatment Canadian victims of the "Taxable Benefits" fiasco are currently enduring.
Other issues may also be addressed from:- "Global Warming" to Oxymorons such as "Democratic Minority Rights"
Readers Comments will be read and when warrented - acknowledged.
Vic
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