Fontana-led charity cuts ties with ‘sham’ tax shelter

LONDON, ONT. – As choppy political waters rock London mayor Joe Fontana locally, a charity he heads said it’s cutting ties with a tax shelter criticized by Canada Revenue Agency (CRA).

The embattledFontana, under investigation by the Mounties for federal cheques used to pay for his son’s 2005 wedding reception, is chairman of Trinity Global Foundation.

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Investing: How to get catastrophe tax deduction

8:53PM EDT November 1. 2012 – Thanks to Superstorm Sandy, you’ve got cod in your basement, your roof is in your neighbor’s backyard, and your car’s stuck in the mud somewhere in the swamps of Jersey.

You lucky person! You might get a tax break. But it’s not a generous one, and it takes a fair amount of work to get it.

Read more: http://tinyurl.com/bxfx838

Morinville budget proposes two percent tax increase

Morinville residents will soon be able to provide their input into the 2013 budget, which proposes a two per cent increase in residential and non-residential property taxes.

Town council passed first reading of the 2013 operating and capital budget last Wednesday. The budget is now a public document and open for discussion.

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House flippers beware: You can’t always sell your residence tax-free

My good friend Dave and his wife Linda got lost last weekend. They were following their GPS looking for a particular address when they ended up somewhere along a remote dirt road. “Dave, why don’t we just find someone and ask how to get where we’re going?” Linda suggested. Dave, like most normal men, believed that they weren’t all that lost. “I don’t want to stop to ask someone,” he replied. “We’re close – I’ll get us there.”

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Alberta tax watchdog slams Calgary’s call for more tax powers

City officials are pursuing dramatically greater taxation powers that would include civic levies on such things as the GST, alcohol, tobacco and hotels.

In a document procured by taxpayers’ rights advocates, administrators with the City of Calgary suggest seeking a greater share of existing levies from the province — such as those from gasoline — and the right to create new ones that would total 15 changes to tax policy.

Read more: http://tinyurl.com/9dmc8ev  

Penny tax could go a long way to solving city fiscal challenges

The pitch for a Calgary penny tax is raising its head once again with tales of success from a former Oklahoma City mayor.

Ron Norick is the guest speaker at a private presentation Monday hosted by Transformation Calgary, a local group concerned with the deficits of municipal facilities in Calgary and across Alberta.

Read more: http://tinyurl.com/9q99fy8

Who Really Benefits From Interest Deductions

REAL estate and building industry groups have loudly condemned proposals by both presidential campaigns to shrink the mortgage interest deduction. Central to their arguments is the long-hallowed deduction’s value to the middle class. But a closer look at who benefits suggests that this perception, though prevalent, is not accurate.

Read more: http://tinyurl.com/9qmaaqe  

Constantly challenge that which you assume to be true

Recently, I started watching Brad Meltzer’s “Decoded” which has at times forced me to question things which I always believed to be true. This show follows a team of investigators who try to determine the meanings behind various symbolism, alleged secret codes and conspiracies that surround us everyday.

In one a recent episode, they investigated the gold in Fort Knox and alleged that there may not be as much if any of that which many believe is stored in the vault. As intriguing as that was, it paled in comparison to what was in my opinion the real eye opening experience!

I had always assumed that the 1933 movie “Wizard of OZ” was made for children. During the shooting, it was discovered that color motion pictures could be made and that is why the land of OZ is in color and the rest is in black and white. That is all I had known about the movie and did not delve any deeper into it.

Upon further inspection, the truth behind the story became readily apparent. The Wizard of OZ is the true story of gold. Dorothy follows it to find the Wizard (who is a manipulative politician) and in the end she finds that he is a fraud. This is comparable to our present day in which paper money (i.e. fiat currencies) have nothing to back them up except the ability of governments to tax their people. Gold and Silver are real currencies and everything else is a fraud.

As for the title of the movie, the abbreviation for ounces is OZ because it sounds a lot better than the “wizard of ounces”.

I had always assumed there was little else to the movie but by being forced to challenge a long held belief, I now have a greater understanding of the hidden meaning contained therein.

Picture Butte council briefs

The Town of Picture Butte will no longer be accepting credit card tax payments.

In a report to town council last week, Chief Administrative Officer Mike Derricott, said in an average month the town pays about $175 in fees to allow residents to make utility payments using their credit cards. During tax time the fee jumps up as high as $2,000.

Read more: http://tinyurl.com/cdd72nf