Untaxed income

July 29, 2018

Pay It Forward is an Illegal Pyramid

  Pay It Forward – Summary Pay It Forward is an illegal pyramid, in Canada. One “gifts” $5,000 to be “gifted” $40,000 later when eight people below also each “gift” $5,000. Canadian courts have consistently ruled participation in an illegal pyramid, such as Pay It Forward, is a criminal offence. […]
September 24, 2016

The Three Meanings of Resident for Real Estate Transactions

Summary Real estate transactions may involve up to three different legal meanings of resident. Canada’s Income Tax Act (“ITA”) deems you as representing an artificial legal person called an ITA “officer”. That federal officer is resident or non-resident in Canada for the ITA since property rights are otherwise under provincial […]
July 10, 2016

BankOnYourself – Be Your Own Banker

Bankonyourself Overview Bankonyourself, or becoming your own banker, protects and grows wealth and pay off debts for the rest of your life. This is a specially designed (more later) mutual whole life insurance that is the perfect financial vehicle for becoming your own banker because YOU OWN THE BANK. The […]