Cheaper to live in London England

[Hamloc]

I see in the news on Thursday that Calgary billionaire Murray Edwards has moved to London England. Apparently for tax reasons. With the new federal and provincial tax rates on personal income now totalling 48%, it is 4% cheaper in England. Also more favourable capital gains tax structure. Murray Edwards was one of the cheerleaders for premier Notley's new carbon tax and spoke at the press conference when our Premier first released the new tax.

He is a perfect example of why higher tax rates don't always bring in more revenue, the wealthy simply move to where taxes are lower. Have a good day:-)

[perfecho]

Twitter commentator Dave Beninger raised an interesting point yesterday: If tarsands tycoon N. Murray Edwards is going to bug off to England because he finds the taxes in low-tax Alberta 3 per cent too high, should his fellow Alberta taxpayers be asked to pony up for a new arena for his Calgary Flames professional hockey team?

[farmaholic]

God I hate that word---tax. If an individual was to really tally up the total taxes paid from this operation it would put you off food for a month.

Corporate...
Personal Income...
GST...
PST...
Fuel Tax...
Sin Taxes...
Tax on Tax on Tax...

[perfecho]

But really, where else would you live? Instead of tax, call it rent...do you want to rent in a good place or where the rent is really low.....
Still think if banks and wall street didn't have as much power, we would have lower taxes...ie..QE...Comer lawsuit....bailouts...it really isn't the middle class using up the country's finances. Even Edmonton's arena has way too much public money in it.....and going to lose an amazing amount on the Northlands group.

[SASKFARMER3]

Ah even our business school namesake knows Canada isn't the place to stay.

[hobbyfrmr]

Wow. Thats pity.

[nicolaas]

As long as he sells all his Canadian assets, he can do what he wants. Any assets still here, then he should pay the Canadian government the difference in the tax rate. Also not allowed in the country for more than a couple weeks per year, or be considered taxable. Just like any overseas oil worker. But I suppose rules may not apply to him since he has a billion dollars.

[Hamloc]

Certainly agree that governments shouldn't be using our money to build sports arenas for millionaires.

As for your assertion that banks and Wall Street is responsible for high taxes??? Two areas that the Feds increased spending the most was on the new child benefit and aboriginals, what has that got to do with banks and Wall Street? In Alberta most money is spent on health and education. The Liberals and NDP are all about income redistribution not business or growth!!!!

[Horse]

Wiseguy Notleys fine she hasnt learned how to steel and **** the public like the CONs She did give a few dollars to the working poor,that still has the rich whining like a little school girl. No carbon tax for the farmers , as for moving to london to save 4% tax, what kind of am income would you have to have to make economic sence??

[LEP]

When Chrétien was PM the Irvings took most of their wealth to Grand Cayman. CRA calculated the tax that would have been owing in the several hundreds of millions.

Chrétien liberals waived the bill.

[farmaholic]

perfecho.....but we're not all paying the same rent to live here.....if fact, some are getting paid to live here!

I forgot property and school taxes in the list.

[perfecho]

True enough...but I still really don't want to be elsewhere....have a damn good lifestyle, lots of choices and lots to do. In semi retirement, finding the most rewarding things don't require much money...sometimes wonder why spent so much effort towards it!

[ajl]

Farmers have to subtract payments from agri invest and agri stability as well as crop insurance payments above premiums to come up with net tax payed. These days you also would have to account for income transfers to land owners because the B of C maintains rates below market. Fact is in a managed economy like Canuckistans's, (and now every other country in the world) you can't really say that you earned what you have.

[farmaholic]

No Ag Stab payments since 04 frost....then they asked for some of that back. But senselessly still make premium payments...with little hope of ever collecting!!!!
No Crop Insurance payments. ..not in it.
AgInvest....do it but still pay more tax than I get from them.

We all know the story of fuel tax. Most fuel on my farm is used off road.....until recently..paid for trucking grain to terminals.
Even submit fuel taxes on personal use gas that has the tax removed on purchase.

I'm not buying the free-ride argument here.

We generally manage the farm to make money not avoid paying taxes....but I still think we are definitely paying more than our way.

[grassfarmer]

I guess he'll have to use some of the money he is saving to buy his milk.

Price of a litre of milk Calgary $1.84. Price of same in London $2.49

#supplymanagement better for farmers, better for consumers.