IT IS NOT A QUESTION OF SHOULD..

IT IS NOT A QUESTION OF SHOULD.
IT IS A QUESTION OF WHEN AND HOW.
A Commentary on Canada’s Taxable Benefit Legislation.
By Victor Drummond ©
March 2008


When cartoonists wish to depict a villain -- performing a dastardly deed – they frequently resort to the mustached, sneering, image of a man in a long black coat, and wearing a top-hat while tying a helpless young woman to a railroad track.

That visual image just about tells it -- the way it actually -- is for victims of the flawed Canadian Taxable Benefit legislation.

They feel as helpless as the woman lashed to the railroad track – and some of them can now hear the whistle of an approaching train.

For those victims -- who had deferred ESPP/ESO Taxes that have now become due and payable -- by the next tax returns deadline – the train is fast approaching and there is no rescuing hero in sight.

There are however plenty of useless by-standers in positions of authority who -- at the stroke of a pen -- could stop that on-coming train in its tracks.

All that would be required is for the government to issue a stay-of-execution order to extend all expired tax deferment options for another year -- while the government determines whether or not the insidious taxable benefit legislation should be changed.

Making that decision must be really a challenge for most federal politicians as it is like pulling teeth to get any of them to even discuss the problem.

If there should be a law forbidding tying people to a railroad track then there should also be a law forbidding taxing people into financial ruin on income that only existed in theory.

Why should Canadians vote for people -- to represent them in federal government -- that can not – or will not -- protect them from exploitation and unjustified ruinous taxes?

Are our present Ministers of National Finance and National Revenue having a problem deciding whether or not the law should be changed? That decision is easy.

What may be a bit more difficult is when and how the law should be changed.

If a person has no price on their integrity, and, has a minimum sense of fair play then those questions are not difficult either.

When should the law be changed? Answer Immediately.

How should the law be changed?

In all fairness it should be changed in such a way that everyone who has been -- or will be -- taxed on a phantom income – has all past-paid taxes and related penalties refunded and/or outstanding taxes cancelled with -- the interest applicable to overpaid taxes included.

Would it be reasonable to change the law retroactively but leave it up to those victimized to request a re-assessment – as opposed to the government having all tax records from the year 2001 to 2007 reviewed for victims?

To be truly fair the government should screen all tax returns -- from the year 2000 to the year 2007 -- for taxes levied on phantom income with the above refund policy applied.

BUT if that were to impose an unbearable distress on the National Budget then it might be justifiable to only respond to those Canadians that ask to have their tax records and assessments reviewed -- according to the corrected taxable benefit legislation.

There are likely a large percentage of victims that would not have been overtaxed by enough money to justify applying for a refund. An example of this situation is the Saanich JDSU employee whose refund was less than $5.00

If you agree – (1) there is a problem – and (2) the solution(s) suggested above THEN contact your Member of Parliament and inform him or her you support the objective of the “Canadians for Fair and Equal Taxes” (CFET).

With your help we can rescue every victim of this obscene tax – especially those presently tied to the railroad track.

Victor Drummond ©