Take Your Money and Run!: Revised Edition Paperback – Feb 1 2007
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About the Author
Born in Vancouver in 1939, ALEX DOULIS worked as a mathematician in the early days of computers before entering the investment industry where he toiled for 19 years. He has spent the past ten years living tax-free on his yacht in the Mediterranean and travelling.
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Top Customer Reviews
There are some really great stories of government waste and the voracious manner in which the tax department operates. My favourite is the one about the madame who paid income taxes on her brothel revenues dutifully and was then called to account by the tax man for the cases of whiskey required for bribery purposes that she declared as a business expense. Who knew the canadian government was living off the avails of prostitution!
He also explains the benefits of owning Bonds, and their relation to interest rates in a folksy kind of way that I found to be better than any economics/finance textbook I've had to use in my university cramming sessions.
Several key sections will benefit from a re-read to get a good feel for the author's tax avoidance structure.
The book is a bit dated now, and CRA has since implemented disclosure rules that attempt to minimize the loss of revenues from this type of asset structuring approach (e.g. declaration of any non-cdn assets over 100K)plus, they changed the treaty with Holland which had previously provided for a tax-free transfer of RRSP holdings to that country. The average tax bite to do so now is between 15 percent (Ireland) and 25 percent (most everywhere else.)
It's a fascinating read, and I'm not surprised that no-one's commented on it, for fear of ending up on some tax department's watch list-hence my anonimity! ; )
Doulis also gives a great description, of just how over zealous the tax burden has become. The growth of the underground economy, is a direct result of high tax rates. The current uprising in Greece, is another example of the private sector crushing under oppressive tax levels. At some point the suckers in the private sector, no longer wish to continue supporting the benefits of public sector parasites.
This book is fun to read, and has some rather bleak news regarding taxation levels.
Most recent customer reviews
I first read the book 10 years ago. That particular book was lost along the years but the material presented therein was remembered so much so, that I just had to repurchase the... Read morePublished on Sept. 16 2010 by louis stock