Taxed to cold, hungry and homeless
It's INCOME TAX time again! Yipee. Did you know that: "The average Canadian family spent…
Seems to me (and the common law) a fundamental tenet of freedom is the right to own private property.
If I remember correctly, the federal government has no jurisdiction related to private property, which is the exclusive jurisdiction of the provinces (BNA Act s.91,92).
If something can be taxed when you sell your property, it’s not private, it’s in the public domain (in this case meaning taxable), usually through a registration system (or just ‘official deeming’), like your car or home or jewellery?
What? Who registers jewellery?
According to this article the tax man claims it under “listed personal property” (LPP). Sheesh. They want capital gains on your gold bracelet! Give me a break.
I don’t know much about this LLP, like nothing at the moment, but it smells fishy to me. It just reminds me that you need to read the law for yourself, don’t take the taxman’s word for it. Their wet dream dream is “everything is taxable” and act as if it is so. It just isn’t so and it’s up to you to know the difference.
If this sounds tempting, consider the tax consequences of selling your gold for cash. Here’s a quick review of the rules:
While a coin dealer who purchases gold coins from an individual has an obligation to report the sale to the CRA and issue a T5008 tax slip to the seller, there is no such reporting requirement for gold jewellery.
The seller, on the other hand, may have an obligation to declare any gains from the sale of jewellery on her tax return since jewellery is considered to be “listed personal property” (LPP).
There are some really good legal questions to ask about the concept of private, private property, private information and the right to privacy. Are you interested in the answers?***** FREE MEMBER LEVEL ONLY CONTENT! You can sign up as Free Member to get access! *****
What do you think?
There a more questions for sure. This is a fundamental issue everyone should be interested in gaining clarity on.
Here’s a few articles hi-lighting the concerns for our loss of private property rights:
JOSEPH QUESNEL, TROY MEDIA 02.05.2013
Why are property rights important?
Property rights allow us to live free of the control of others, economically and politically, and act as a defence against the encroaching power of governments.
In fact, a weakening of property rights is a sure sign that a society is becoming less free…..[read more at the link above]
The report mentioned in the article:
The First Canadian Property Rights Index: Assessing the State of Property Rights Protections in Canada
REPORT PDF: https://fcpp.org/files/1/PS149_PropRightsIndex_JA31_F1.pdf
Download report from our website: PS149_PropRightsIndex_JA31_F1
an excerpt from a Post about the histry of private property:
“…Every man has a ‘property’ in his own ‘person.’ The ‘labour’ of his body and the ‘work’ of his hands, we may say, are properly his. Whatsoever, then, he removes out of the state that Nature hath provided and left it in, he hath mixed his labour with it, and joined to it something that is his own, and thereby makes it his property.”