Category Archives: Uncategorized

TFSA’s Are In The News

Recently, the Globe and Mail has been writing editorials on merits of the Tax Free Savings Account.  I find it remarkable how so many so called enlightened folks can rationalize bad from good. Your Canadian government put the plan in place in 2009 for your benefit largely with an understanding that now a larger proportion of the populous is without a “Defined Benefit Pension Plan”.  As you are likely aware, it is folks in the public sector who are largely the sole remaining participants of this “guaranteed” form of pension which has the effect of burdening taxpayers with legacy like costs.  The Globe now has insinuated that your government treasury can’t afford the tax loss of having you receive “tax free” investment income inside the TFSA.  Allow me to espouse the one gargantuan fact regarding contributions to TFSA’s.  The contributions are made by taxpayers who have already been taxed once on the funds headed toward the plan.  Any hard working person has been taxed on income derived from their labor in our country and little do most folks know that this form of taxation was only supposed to be temporary to pay for our efforts in the First World War.  I would have no issue at all at taxing investment income (passive income) if it wasn’t taxed first through employment earnings or dividend income derived from active business.

The highest marginal personal tax rate in Alberta is 39 per cent and Alberta is amongst the lower taxed provinces in Canada.  While Albertans despise the notion of a “sales tax”, a sales tax in my estimation is less insidious than a tax based on someone’s contribution to their country and service to mankind.  The Canadian Income Tax Act approximates 3,000 pages of fine print and certainly detracts from our citizens’ ambition to innovate, produce, contribute, and ultimately actualize a benefit worthy of service.

Canadian Politicians Thwart Democracy

Back in mid December 2014 eight Wildrose Members of the Legislative Assembly in Alberta stripped themselves from their party moniker and joined the governing Progressive Conservative party.  Yesterday, Conservative Eve Adams crossed the floor in Ottawa to join the Liberal Party of Canada.  Hence; those voting constituents in representative ridings lost their say in the operation of our Country’s affairs.  Floor crossings flout democracy and should be outlawed.  In a first world democracy enshrined with a complex web like legal system and an Income Tax Act of some three thousand pages of fine print, we as a people cannot get it figured out that a person’s vote should be sacred?

Shall We Cut Amanda Lang Some Slack

Amanda Lang may be in the spotlight and bruised from an alleged journalistic indiscretion but I suggest that some context is appropriate.  Canadians have long supported the CBC.  The funding of this archaic institution is rarely seriously challenged by taxpayers.  As a publicly funded body, one might argue that it should be free from political bias and editorial direction but in practice it is broadcast by imperfect people at least potentially tempted by influence in spite of ideals which it may purportedly possess.  In the event that you’ve forgotten, the top marginal personal income tax rate in Alberta is 39 per cent and apparently junkets by journalists still go on at the CBC.  Yes, I realize we pay “other” taxes as well.

Amanda Lang had taken on a programming role with the CBC which appeared to more entertainment oriented than news oriented and any prominence acquired through this role may have garnered her attention by corporations such as the Royal Bank of Canada.  Then again, perhaps there’s more to Amanda Lang’s resume which would inspire shareholders of RBC to condone the alleged payment of a speaking fee.   Since she reports on business or has in the past, why would there be no disclosure requirement by the CBC ensuring notification from its journalists who acquire private speaking contracts from corporations?  Preclusion from earning income outside a “job” should rarely be the policy but certainly in the journalism business disclosure should be required by a body who professes ideals of fact based reporting.

I suggest that the CBC and its laxity in constructing a programming model in line with its values is more to blame than Amanda Lang for any perception of reporting bias.  Apparently, the CBC has now implemented a strict policy on the topic to prevent any future indiscretions. I suspect that Amanda Lang did not set out purposely to trigger a debate on journalistic integrity nor to manipulate a message because of the forum afforded her but she simply wanted to capitalize on a circumstance made convenient by her employer.

Orderly Exit of Target From Canada

Good riddance.  The contemptuous posture taken by management upon entering Canada was truly remarkable.  Imagine – we’ll bribe you with a five per cent discount if you fork over your banking information!  Ultimately compromising the data without implementing sufficient security measures was the last straw.  Canadians stood up to the idiocy.  Proud of ya!

Not Such a Quiet Ski Day

What started out as a lone trip up to Nakiska for skiing took an interesting turn mid day.  You see – I met this skier – let’s call her Jo.  I have never met someone as passionate for the sport.  Although now well into middle age, she’s discovered skiing by moving through what she thought was a hurdle of not knowing anybody with whom to ski.  She started talking to people around the sport and agreed to head up with an acquaintance.  One new friend led to another and soon she found herself in the company of advanced skiers looking to take her to the double diamonds.

On this day, she was determined to practice some drills solo with the purpose of keeping up with her new ski network.  I was delighted to have her shimmy up by my side at the lift station for the ride to the top of Nakiska Gold at which time I exclaimed “it’s a hard life”.  With her giggle, I became suspect that we may just share some adventure tales, and perhaps the late sun softened snow together.

Jo works two jobs but still projects around 80 ski days this season.  We pondered the fate of those facing the drudgery of work or the boredom of channel surfing when we were breathing the fresh mountain air and peeling off a sporty fifteen run day.  Her willingness to learn select advanced level tips was practiced in tandem as we carved symmetrically together down the slope.  She glowed at my suggestion that she was on the precipice of expert form at which time we targeted weight transfer and angle of attack.  Having apparently corroborated her friend’s notion that the deliverance of more mindful aggression would translate into spontaneous turning opportunities on the steeper pitch, her excitement for possibility shone bright.

After last run, Jo and I headed in for some left over lunch and après ski beverages.  We were literally the last guests to leave the lodge on this memorable day.

In the instance of one early afternoon lift ride to the top of Nakiska Mountain Resort in early January 2015, my easy going quest for some solo outdoor exercise turned into an exhilarating ski experience in which the finesse of the sport was revisited and my passion for winter fun was rekindled in good time for a promising upcoming season.