« previous next »
Pages: 1 [2] 3

Author Topic: I would have done a biglier deal  (Read 335 times)

0 Members and 1 Guest are viewing this topic.

Offline ?Impact

  • Hero Member
  • *****
  • Posts: 2941
Re: I would have done a biglier deal
« Reply #15 on: October 15, 2018, 06:28:31 pm »
I don't know what the value of the shares are, but based on $20k dividend then if they were earning 5% it would be around $400k. Since there was an investment firm to pay as well, then let's say $600k for a 5% ROI.
Logged

Offline SirJohn

  • Hero Member
  • *****
  • Posts: 5801
Re: I would have done a biglier deal
« Reply #16 on: October 15, 2018, 07:23:43 pm »
Quote from: Omni on October 15, 2018, 04:37:36 pm
That's a bit hypocritical from someone who supported Harper.

He was better than the alternative. Doesn't mean I ever praised his vision or political bravery.
Logged
"When liberals insist that only fascists will defend borders then voters will hire fascists to do the job liberals won't do." David Frum

Offline SirJohn

  • Hero Member
  • *****
  • Posts: 5801
Re: I would have done a biglier deal
« Reply #17 on: October 15, 2018, 07:30:45 pm »
Quote from: ?Impact on October 15, 2018, 06:28:31 pm
I don't know what the value of the shares are, but based on $20k dividend then if they were earning 5% it would be around $400k. Since there was an investment firm to pay as well, then let's say $600k for a 5% ROI.

Several years ago, the Prime Minister said his inheritance was only worth $1.2-million, but his wealth today includes further undisclosed distributions from his father's estate in 2016 and interests in several numbered companies.

https://www.theglobeandmail.com/news/politics/trudeau-dodges-questions-about-taxes-on-his-family-wealth/article36319389/
Logged
"When liberals insist that only fascists will defend borders then voters will hire fascists to do the job liberals won't do." David Frum

Offline SirJohn

  • Hero Member
  • *****
  • Posts: 5801
Re: I would have done a biglier deal
« Reply #18 on: October 15, 2018, 07:34:11 pm »
Quote from: ?Impact on October 15, 2018, 04:42:01 pm
Trudeau had a $20k/year trust fund. That is a good safety net, but it is anything but rich. Harper received more from his oil baron dad.

Harper's father was an accountant.
And I believe the nature of these trusts is they pay whatever in dividends you want them to pay, up to, of course, a certain limit.
Also, dividends are taxed at a very low rate.
Logged
"When liberals insist that only fascists will defend borders then voters will hire fascists to do the job liberals won't do." David Frum

Offline TimG

  • Hero Member
  • *****
  • Posts: 2616
Re: I would have done a biglier deal
« Reply #19 on: October 15, 2018, 08:23:38 pm »
Quote from: SirJohn on October 15, 2018, 07:34:11 pm
Also, dividends are taxed at a very low rate.
Dividends are paid with after tax income so the net tax rate on dividends is the same as if you paid salary with a higher personal tax rate because salaries are deductible expenses for a corporation. The benefit from dividends comes from income splitting and tax deferral but those benefits have been greatly reduced for all but the richest Canadians (i.e. Trudeau and Morneau).
Logged

Offline SirJohn

  • Hero Member
  • *****
  • Posts: 5801
Re: I would have done a biglier deal
« Reply #20 on: October 15, 2018, 08:45:32 pm »
Quote from: TimG on October 15, 2018, 08:23:38 pm
Dividends are paid with after tax income

But if the dividends are coming from a trust set up by someone else, then it's rather different.
Logged
"When liberals insist that only fascists will defend borders then voters will hire fascists to do the job liberals won't do." David Frum

Offline TimG

  • Hero Member
  • *****
  • Posts: 2616
Re: I would have done a biglier deal
« Reply #21 on: October 15, 2018, 09:08:37 pm »
Quote from: SirJohn on October 15, 2018, 08:45:32 pm
But if the dividends are coming from a trust set up by someone else, then it's rather different.
Trust still pay taxes on dividends.

i.e. a large trust paying out 20K in dividends would pay ~9K in taxes on those dividends. The receiver will see their taxes reduced by about ~9K so the government gets the same revenue from the transfer.
There are a lot of of devils in the details but the principles are designed to ensure there is no incentive to pay dividends rather than salary.
Logged

Offline Michael Hardner

  • Hero Member
  • *****
  • Posts: 12532
Re: I would have done a biglier deal
« Reply #22 on: October 16, 2018, 06:32:41 am »
Last year I paid myself $45K in dividends from my company and paid a very low rate - certainly not 30%.
Logged

Offline TimG

  • Hero Member
  • *****
  • Posts: 2616
Re: I would have done a biglier deal
« Reply #23 on: October 16, 2018, 08:26:04 am »
Quote from: MH on October 16, 2018, 06:32:41 am
Last year I paid myself $45K in dividends from my company and paid a very low rate - certainly not 30%.
I would assume your business qualifies for the small business deduction. Large family trusts would not qualify and would pay more.
Logged

Offline ?Impact

  • Hero Member
  • *****
  • Posts: 2941
Re: I would have done a biglier deal
« Reply #24 on: October 16, 2018, 02:23:50 pm »
Quote from: SirJohn on October 15, 2018, 07:34:11 pm
Harper's father was an accountant.
And I believe the nature of these trusts is they pay whatever in dividends you want them to pay, up to, of course, a certain limit.

Perhaps way back in the 1950's when he worked for George A. Touche & Co. He went to Imperial oil in the late 1950's and worked his way up through the ranks. He was one of the first people involved in computerizing a major corporation. He ended his career directing policy at Imperial Oil, and was able to retire early at age 60 to pursue his passions. He was very much into music, certainly something he passed down to at least one of his children. He also was into history, as was his more famous son, although his focus was more on military history.

You are right that the trust could have been structured to pay a fixed dividend, and channel the rest of the earning back into building capital so I agree my earlier estimate could be very low.
Logged

Offline Squidward von Squidderson

  • Full Member
  • ***
  • Posts: 5630
Re: I would have done a biglier deal
« Reply #25 on: December 06, 2018, 01:44:47 pm »
Scheer in the news again... 

Scheer couldn't answer a fairly simple question to the Assembly of First Nations Special Chiefs Assembly, which he attended. How would a Scheer government be different from the previous Harper government when it comes to its relationship with indigenous people?

Seems like a fair question...   and a really obvious one that he should have been prepared to answer before showing up.   Instead, he stammered and asked for patience.  And then got boo'ed.

https://www.ctvnews.ca/politics/first-nations-chiefs-boo-scheer-for-not-saying-how-he-s-different-from-harper-1.4207418
Logged

Offline ?Impact

  • Hero Member
  • *****
  • Posts: 2941
Re: I would have done a biglier deal
« Reply #26 on: December 06, 2018, 04:40:26 pm »
Quote from: the_squid on December 06, 2018, 01:44:47 pm
Scheer couldn't answer a fairly simple question to the Assembly of First Nations Special Chiefs Assembly, which he attended.

He just went for the photo-op.
Logged

Offline TimG

  • Hero Member
  • *****
  • Posts: 2616
Re: I would have done a biglier deal
« Reply #27 on: December 06, 2018, 05:04:56 pm »
Quote from: the_squid on December 06, 2018, 01:44:47 pm
How would a Scheer government be different from the previous Harper government when it comes to its relationship with indigenous people?
A pretty stupid question. Harper's relationship with aboriginals was rocky because he was not willing to play lip service to the nonsense that many aboriginals and their apologists expect. So the only answers Sheer could give: I am going to lie to you and pander to your nonsense or I will not lie to you which means you are not going to be happy with me.
« Last Edit: December 06, 2018, 05:06:53 pm by TimG »
Logged
Agree Agree x 1 Dumb Dumb x 1 View List

Offline Omni

  • Full Member
  • ***
  • Posts: 8563
Re: I would have done a biglier deal
« Reply #28 on: December 06, 2018, 05:30:57 pm »
Quote from: TimG on December 06, 2018, 05:04:56 pm
A pretty stupid question. Harper's relationship with aboriginals was rocky because he was not willing to play lip service to the nonsense that many aboriginals and their apologists expect. So the only answers Sheer could give: I am going to lie to you and pander to your nonsense or I will not lie to you which means you are not going to be happy with me.

What was really stupid was Scheer going into this meeting having obviously no idea what his policy is. As a result he stuck his foot in his mouth a number of times.For instance when asked how his approach to the issue would differ from Harper's, all he could come up with was "it will be different than the Liberals". Pretty much a non answer so no wonder he got booed.
Logged

Offline Squidward von Squidderson

  • Full Member
  • ***
  • Posts: 5630
Re: I would have done a biglier deal
« Reply #29 on: December 06, 2018, 08:36:48 pm »
Quote from: Omni on December 06, 2018, 05:30:57 pm
What was really stupid was Scheer going into this meeting having obviously no idea what his policy is. As a result he stuck his foot in his mouth a number of times.For instance when asked how his approach to the issue would differ from Harper's, all he could come up with was "it will be different than the Liberals". Pretty much a non answer so no wonder he got booed.

He couldn’t even explain what the Liberals are doing wrong....    what would he change?

*blank look*
Logged
Pages: 1 [2] 3
« previous next »