Posted 22 September 2015 - 08:28 PM
Posted 23 September 2015 - 03:55 AM
^In my experience the definitions are much blurrier. The tax code is complex. I know lots of accountants who are "farmers". They fit all the criteria CRA requires for farm status, but they wear suits to work and buy marked gas. Is that a loophole, Tax fraud, or an incentive to get people farming? It's Only fraud if you go to court and lose.
If you start a sole prop as an artist just so you can record a loss every year and write off your supplies while reducing your tax burden, is that a loophole, evasion, or fraud?
In my experience accountants (using experience and judgment) push the limit for their clients. "It never hurts to try" was often heard in the office I used to work in. That doesn't mean they are criminals, it's just part of the game they play against CRA.
Yeah, you've articulated what I couldn't.
Gary's take on the whole situation with the Cooper's makes sense. Good work, Gary.
Know it all.
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