Abuse of the Canada Emergency Wage Subsidy (CEWS).

Another one of the Village Idiot's ideas with no checks and balances...and cost the taxpayers $Billions. And this doesn't include privately owned bushiness's, this is just corporations !!!

Quote:

---

Canada Revenue Agency (CRA) is launching a website to help Canadians track which employers have been using government wage subsidies during the COVID-19 pandemic.

The CRA says its Canada Emergency Wage Subsidy (CEWS) Registry website is part of a push for transparency around the government program, which as of last week included payments to 368,000 businesses and non-profits.

For privacy reasons, the agency says the public registry does not include sole proprietors.

The move comes after news reports showed many large businesses paid out dividends to shareholders this year while collecting the wage subsidy.

According to an investigation by the Financial Post, 68 publicly traded Canadian companies received $1.03 billion in wage subsidies over a six-month period this year, while paying out more than $5 billion in dividends to shareholders.

Of 53 businesses that CBC News looked at, more than half were found to have paid out dividends to shareholders while collecting the wage subsidy.

The CRA’s announcement notes that it has a separate webpage called CRA Leads for people to report businesses who wrongfully claimed a subsidy.

The wage subsidies are meant to support employee paychecks at businesses where revenue has dropped, and the CRA says it could make ineligible businesses repay the subsidy plus a penalty, or even imprison fraudsters.

---

It’s the proverbial “tip of the iceberg”....

I see Pierre actually confronted the Finance minister on this back in Apr...

https://www.facebook.com/27321532378...99215720360038

I know people who own outlets of a well-known Canadian restaurant franchise who claim they are making more money this year than last year due to CEWS.

Yes there are stories like this turning up everywhere.

People who had shell companies for tax reasons etc prior to the pandemic, small companies where accounting is easily manipulated, many collected the $40K loan and will keep the $10K that was forgiveable.

The ants will always pay for the grasshoppers. Always have, always will.

I wonder how many well connected Liberal Companies have hidden money away Adscam 4.0

It's all about the money,Making more money.
The greed is real over money always will be.

"I just wanna stay broke forever, ya that's the chit noone says lol"

It was bound to happen.

The question is how long can the government keep this up we know the virus isn't going anywhere anytime soon.

I have said it since the beginning of the summer , everyone thinks next year will be so much better. What's going to make it any better the way we are dealing with it?



Sent from my CLT-L04 using Tapatalk

Before the discussion around supply chain blew up, consider this.
I'll use the person I know that does all the electrical for Starbucks.

2019.
He would need to use credit to buy trucks, wiring, breakers, lights, panels and more....Go or send a crew to do a store. Cash outlay of tens or hundreds of thousands. He doesnt get paid, until the job is done. Sometimes, some jobs, he's putting tens of thousands and not getting paid for 4-8 months.

He has used every thing he can to stay afloat in 2020.
Obviously I wont disclose numbers. Will just say, I don't know how he's sleeping at night.

Then there's all this stuff, people or companies abusing the bailouts, and more I might mention.

But lets assume, lets live in Utopia for a moment. Ignore all the above.
If he starts having problems sourcing wire, breakers and relays, widgets and gadgets....He's done...As will thousands of other businesses go under...

Me, I've rarely if never wished I could see the future. This last year???
Even if "we" get through the winter, I can foresee something wicked and ugly.

fear and greed.

I saw something like this happening and have said it in the pass, only I was expecting a massive power outage instead. We might still get that yet to.
It is what it is.

I watched a video about the housing crash

The 2008 crash started in 2005 and didn't recover untill 2012.

More people are out of work and more people who deterred their mortgage than in 2008. Only difference now and then is the interest rates . They went up in 2005 while they went down now.

Only thing keeping people alive are lower interest rates . When they go up we are in trouble. The house market is not like the stock market and will take some time for the crash . A year maybe 2 once the demand is gone because of affordability big possiblity of a crash.

Add higher taxes carbon and the cost of living up the threat is a real possibility.


Taxes are going to be a killer next year putting millions in a darker place than they need to be.

Sent from my CLT-L04 using Tapatalk