The "Panama Papers" Data Leak - Largest in Journalistic History

[rocwell]

Toronto Star and CBC Radio are the only 2 Canadian Media that have access to the papers, and the Star is reporting that over 350 Canadians have been found in the Documents, and costing Canada around $8 Billion in Taxes each year.

Fuck this. Why don't we all stop paying taxes?

[Apollo]

For starters because you have no choice. It's taken off your pay cheque.

[Bendit]

Toronto Star and CBC Radio are the only 2 Canadian Media that have access to the papers, and the Star is reporting that over 350 Canadians have been found in the Documents, and costing Canada around $8 Billion in Taxes each year.

Get the dungeons ready.

That is quite a number...am surprised...there must be a lot of scrambling going on.

If this proves to be true I hope they all get prosecuted to the full extent (no plea deals).

[rocwell]

For starters because you have no choice. It's taken off your pay cheque.

Not really. I make a living from gambling. I haven't paid any taxes yet, but CRA deemed my gambling winnings as "income from business" couple months ago, so yeah.. I have a choice.. Mossack Fonseca..

Toronto Star and CBC Radio are the only 2 Canadian Media that have access to the papers, and the Star is reporting that over 350 Canadians have been found in the Documents, and costing Canada around $8 Billion in Taxes each year.

can't wait to see what's going to happen to these individuals. This is a serious matter which should be followed by every one of us.

[Apollo]

Get the dungeons ready.

That is quite a number...am surprised...there must be a lot of scrambling going on.

If this proves to be true I hope they all get prosecuted to the full extent (no plea deals).

They should have to pay every penny plus interest, fines and late penalties into the government and face jail time.

Not really. I make a living from gambling. I haven't paid any taxes yet, but CRA deemed my gambling winnings as "income from business" couple months ago, so yeah.. I have a choice.. Mossack Fonseca..



can't wait to see what's going to happen to these individuals. This is a serious matter which should be followed by every one of us.

Let me rephrase: for starters because 99% of the population are employees and have no choice. It's taken off their pay cheque.

If you're not just fooling around here I hope you're claiming all your expenses like your car for example.

[rocwell]

They should have to pay every penny plus interest, fines and late penalties into the government and face jail time.



Let me rephrase: for starters because 99% of the population are employees and have no choice. It's taken off their pay cheque.

If you're not just fooling around here I hope you're claiming all your expenses like your car for example.

Of course, I know. I'm still trying to fight this decision though as in one CRA letter they pretty much accused me of having inside information that allows me to reduce the element of chance. Lol.

[rocwell]

"Martial arts actor Jackie Chan is also named in the leaked documents as having at least six offshore companies managed through the law firm. "

damn

[3inthekeon]

Get the dungeons ready.

That is quite a number...am surprised...there must be a lot of scrambling going on.

If this proves to be true I hope they all get prosecuted to the full extent (no plea deals).

Plea deals would actually be best in most cases.

Not saying to let them off scot free, but the only big winners would be lawyers if full prosecution occurs.

Government should grab as much of that money as it can in the smartest and most fiscally responsible way.

Don't want a situation where we win some and lose some and end up spending more than is recovered.

[Bendit]

Not really. I make a living from gambling. I haven't paid any taxes yet, but CRA deemed my gambling winnings as "income from business" couple months ago, so yeah.. I have a choice.. Mossack Fonseca..

Under those circumstances you can then also list bets made which you lost as expenses....and "other expenses" like the research you conduct at the local pub. Hope you kept your receipts. This should mitigate the burden I would think unless you have a boffo win:loss ratio

I did not know this possibility since lottery winnings and the occasional visit to the casino are not taxable typically.

CRA should pull their finger out and start investigating these Mossack revelations.

[Apollo]

Of course, I know. I'm still trying to fight this decision though as in one CRA letter they pretty much accused me of having inside information that allows me to reduce the element of chance. Lol.

Accusations of rigging gambling issued due level of ability? Sounds like a great complement to me... Unless they're right?!

[Apollo]

Plea deals would actually be best in most cases.

Not saying to let them off scot free, but the only big winners would be lawyers if full prosecution occurs.

Government should grab as much of that money as it can in the smartest and most fiscally responsible way.

Don't want a situation where we win some and lose some and end up spending more than is recovered.

One of the big players is RBC it would seem. If we learned anything from the LIBOR scandal in a very similar justice system its banks get off really easy and no one wants to touch the executives.

[Apollo]

Under those circumstances you can then also list bets made which you lost as expenses....and "other expenses" like the research you conduct at the local pub. Hope you kept your receipts. This should mitigate the burden I would think unless you have a boffo win:loss ratio

Beer and pretzels sound like they may be essential to his business plan. Good thinking.

[rocwell]

Accusations of rigging gambling issued due level of ability? Sounds like a great complement to me... Unless they're right?!

Fu*k these guys man... being systematic is not enough to create a trade of being a professional gambler. There are countless cases in Canada and UK which ended with that verdict. Things are changing, I guess. Well at least I wasn't subjected to back taxes and penalties, apparently my transition from casual gambler to professional was "swift" in their eyes.

[rocwell]

Beer and pretzels sound like they may be essential to his business plan. Good thinking.

Yeah.. do it while it lasts... Canada is becoming more and more aggressive in exacting tax from professional and winning players. I have no doubts, CRA will follow America and solve "expenses problem" with heads we win, tails you lose rule. That way taxpayer can only deduct gambling losses against gambling income. I'm pretty sure this will happen ,it's just matter of time.

[007]

I've just been reading about all this, we're going to be getting more and more information from this for a long time.

One thing I found really interesting is that the disappearance of all the gold stolen during Britain's "crime of the century" (The Brink's Mat Robbery) might be explained in the some of the Panama Papers, we'll probably see a lot more stuff like that...