SIN (Two Legal Meanings)

February 18, 2017

Deeming Allows SIN Bait-and-Switch by Financial Institutions

Summary CRA’s Information Circular (“IC”) 82-2R2 promotes bait-and-switch using your SIN. This results in financial institutions issuing CRA T5 information returns (slips) that deem your account income as Canada’s public money. This usually results in you owing income tax. Intent of CRA Information Circulars CRA’s IC70-1 is titled, ANNOUNCEMENT – […]
January 31, 2017

A Privilege Access Fee – Is That Income Tax?

Summary A privilege access fee for accessing Canada Pension Plan and income tax related benefits from an office is what Canada’s income tax seems to be. Offices have certain privileges, powers, and duties. (If they did not, then there is no point in holding any office1). Income tax cannot be […]
January 22, 2017

Preemptive Declarations of Private Property Income – How Canada Blocks Them

Summary Preemptive declarations minimize doubt. However, Canada’s income tax system discourages preemptive declarations of income as private property. For example, Canada Revenue Agency (“CRA”) only provides a form for preemptively declaring income as Canada’s “public money”. They do not provide any form for declaring income as your private property. Declaring […]
November 7, 2016

Dilbert Creator Scott Adams: I Don’t Want a Government Job

Is Dilbert Creator Scott Adams Correct? Dilbert cartoon creator Scott Adams blogged this morning that he doesn’t want to “feel like a government employee”. It seems the US tax code operates much like Canada’s tax laws since Apu’s Theory concludes Canadians are working as government employees for income tax purposes. […]
October 23, 2016

Both Styles of SIN for Canada Savings Bonds

Summary Canada Savings Bond (“CSB”) and Canada Performance Bond (“CPB”) applications use the SIN styled in two ways. The forms for buying, transferring ownership, and reporting redemptions of CSB and CPB use the SIN in two styles that corroborates Apu’s Theory. “Social Insurance Number” means you are legally liable. In […]