Monday, June 23, 2008

Why does Flaherty's law firm pay no taxes? Zilch? Nada?

Flaherty Dow Elliot: Your friendly neighbourhood tax flow through entity.

Perhaps Canada's Minister of Hypocrisy, Jim Flaherty can explain why his personal income trust tax flow through entity (FTE) that goes by the name of Flaherty Dow Elliott (FDE) is exempt from his 31.5% tax. I thought we had to "level the playing field"? I thought tax leakage was bad? Is Flaherty a free-loader?

Even McCarthy Tetrault lawyer John Manley claims we can’t have different kinds of businesses taxed differently.....however he too wants to make an exception for certain different kinds of businesses and not other different kinds of businesses. Make sense?

Question of the day: Should ambulance chasers get special tax breaks in recognition of the important role they play in society?

Flaherty Dow Elliot

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