Who's left...

[fjlip]

Who is deferring payable 2019 corporate and/or personal income taxes? Who is deferring payable 2020 corporate and/or personal income tax instalments?

Postponing the inevitable......

Well Corp installment sent last year, too late for those, 2020 personal taxes owing and Corp installments due Aug 31.

[longmire]

stop buying chineese shit,sk farmer is right we can do it on our own unfortunattly america will have to fight a war with china it;s gauranteed.

[rumrocks]

This is a little bit over simplified, but there is some truth to it . . . . . .



.. HOW A STIMULUS PACKAGE WORKS ..

It is a slow day in the small Saskatchewan town of Pumphandle, and the streets are deserted.

Times are tough, everybody is in debt, and everybody is living on credit.

A tourist visiting the area drives through town, stops at the motel, and lays a $100 bill on the desk saying he wants to inspect the rooms upstairs to pick one for the night.

As soon as he walks upstairs, the motel owner grabs the bill and runs next door to pay his debt to the butcher.

The butcher takes the $100 and runs down the street to retire his debt to the pig farmer.

The pig farmer takes the $100 and heads off to pay his bill to his supplier, the Co-Op.

The guy at the Co-Op takes the $100 and runs to pay his debt to the local prostitute, who has also been facing hard times and has had to offer her “services” on credit.

The hooker rushes to the hotel and pays off her room bill with the hotel owner.

The hotel proprietor then places the $100 back on the counter so the traveler will not suspect anything.

At that moment the traveler comes down the stairs, states that the rooms are not satisfactory, picks up the $100 bill and leaves.

No one produced anything. No one earned anything ..
however, the whole town is now out of debt and now looks to the future with a lot more optimism.

And that, ladies and gentlemen, is how a Stimulus Package works.

[15444]

The 10% wage subsidy does apply to farmers. The 40,000 loan (30,000 to be repaid) is based on your business T4 Summary and payroll size. They changed it on Friday to allow more to qualify. If your payroll for 2019 was between 20,000 and 1.5 million, you qualify. I applied for this one Friday....took 10 minutes.

Is that what I am supposed to call the two nickles in the mason jar at the end of the year?

[TSIPP]

This is a little bit over simplified, but there is some truth to it . . . . . .



.. HOW A STIMULUS PACKAGE WORKS ..

It is a slow day in the small Saskatchewan town of Pumphandle, and the streets are deserted.

Times are tough, everybody is in debt, and everybody is living on credit.

A tourist visiting the area drives through town, stops at the motel, and lays a $100 bill on the desk saying he wants to inspect the rooms upstairs to pick one for the night.

As soon as he walks upstairs, the motel owner grabs the bill and runs next door to pay his debt to the butcher.

The butcher takes the $100 and runs down the street to retire his debt to the pig farmer.

The pig farmer takes the $100 and heads off to pay his bill to his supplier, the Co-Op.

The guy at the Co-Op takes the $100 and runs to pay his debt to the local prostitute, who has also been facing hard times and has had to offer her “services” on credit.

The hooker rushes to the hotel and pays off her room bill with the hotel owner.

The hotel proprietor then places the $100 back on the counter so the traveler will not suspect anything.

At that moment the traveler comes down the stairs, states that the rooms are not satisfactory, picks up the $100 bill and leaves.

No one produced anything. No one earned anything ..
however, the whole town is now out of debt and now looks to the future with a lot more optimism.

And that, ladies and gentlemen, is how a Stimulus Package works.

And don’t forget, the government charges a 30% tax on all those transactions.

[redleaf]

One important detail in that story is the fact that the hotel keeper is out the $100 that the hooker paid him.

[rumrocks]

One important detail in that story is the fact that the hotel keeper is out the $100 that the hooker paid him.

good point.

[burnt]

One important detail in that story is the fact that the hotel keeper is out the $100 that the hooker paid him.

How? He is better off by $100 since his payables went down that amount?

Not that I find the original analogy all that convincing as a model of sound economics.

[redleaf]

How? He is better off by $100 since his payables went down that amount?

Not that I find the original analogy all that convincing as a model of sound economics.

Yes you are right when I think about it.
The townspeople could have done the whole thing without the tourist with a money order or a cashier’s check.

[Richard5]

One important detail in that story is the fact that the hotel keeper is out the $100 that the hooker paid him.

He is only out the room rent of a new customer. He already owed some one else a $100 so really is not out anything.

The world really goes round and round just like this. No comment on hooker involvement

[Richard5]

Don’t shoot the messenger but if you haven’t used your capital gains exception then you have 2 people to blame. First look in the mirror and second fire your accountant

Exactly, did the partnership incorporation strategy almost 20 years ago. Find is funny that there are people that still never heard of it or are first doing the change to a partnership now. Wife or partner will not get much growth if starting first now and maybe only use small part of exemption. Everyone should have been in a partnership 20 years ago so that each partners value very similar and grew through the good years. Accountant tells me CRA regularly asks for work papers to support the math and share of partners value. Wonder how many of the corner store accountants doing this wrong. Audit waiting to happen

[15444]

Feds paying for all small business rents, 75% of total value, for April/May/June. Telling landlords to take a discount. Hahaha.

Farmers, here is another finger to stick up your ass.

Afterthought, wonder if we could apply that to land rents?

[jazz]

well first of all you are going to see a sub 60c dollar which may be supportive for commodities. Oil futures are crashed all the way out to 2022 now. Several provinces will have their credit ratings downgrades then the entire country. Provincial and municipal defaults.

I converted a lot of my investments and cash to USD in February. It might be prudent to convert more if you can.

Some people are now talking about moving liquid funds and mobile assets into the US now.

I think we have one year to plan. Changes to taxation have to be in a budget bill. They might table one in the fall but they are usually in march.

[the big wheel]

All the sask Party has to do is ask for assistance to farmers and it would happen. They don’t want to all their friends covered. Oil is all they worry about. How dumb is that now? Maybe people will get the drift your economy is more than one industry. We re going to all
pay dearly for that decision now more than otherwise. Start looking at made in Canada products of all kinds but will never happen until we get rid of an oil owned government. The alternative is asleep so we r in a real shitshow.

[farmaholic]

Exactly, did the partnership incorporation strategy almost 20 years ago. Find is funny that there are people that still never heard of it or are first doing the change to a partnership now. Wife or partner will not get much growth if starting first now and maybe only use small part of exemption. Everyone should have been in a partnership 20 years ago so that each partners value very similar and grew through the good years. Accountant tells me CRA regularly asks for work papers to support the math and share of partners value. Wonder how many of the corner store accountants doing this wrong. Audit waiting to happen

Better mske sure your "house" is in order or you get along very well with your business partner.
.....best laid plans of mice and men and women. Things NEVER change....right!*

I've heard many stories of people becoming millionaires simply by association or marriage. Archaic matrimonial property laws need revamping bad, this isn't the 60's and 70's anymore! Even more sinister is losing a chunk of what you freely inherited from YOUR family while in a commonlaw relationship or marriage. Divorcees have said if you think taxes are bad....try matrimonial property division.