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Canadian Business by Garth Turner on tax evasion and cross border banking
Paul, a GM Oshawa worker, earned $44,000 U.S. in a Goldome Bank account while seeking tax advantages by keeping money in the United States. The column warns that Canadian law requires reporting all income for tax, discusses evasion vs avoidance, and notes Ontario tax increases of over $1.3 billion as prices and rates rise, signaling inflationary risk.
MENTIONED IN THIS ARTICLE
Paul
Oshawa
Buffalo
Goldome Bank
U.S
Revenue Canada
Ottawa
Revenue
Canada
Goldome
Ontario
Toronto
Direct Trust
Bank Exec
Mark Chodorn