Prime Minister Trudeau Archives - Ira SmithTrustee & Receiver Inc.

Canada banking info collection: Introduction

On October 29, 2018, the Hon. Candice Bergen (Portage– Lisgar, CPC), stood in Parliament during Question Period. She talked to troubling reports this previous weekend that Statistics Canada was taking part in Canada banking info collection without the consent of the people whose info was being asked for.

Statistics Canada notified financial institutions, charge card businesses as well as credit reporting companies that it anticipates them to turn over individual financial information of a minimum of half a million Canadians without their consent or authorization. Financial institutions will not be able to tell their customers about the government demand for their financial transactions.

The noticeable issue is, that with the lengthy history of federal government personal privacy violations, Canadians are appropriately stressed over both the collection as well as the security of their individual economic deals. Ms. Bergen needed to know why the Liberals are accumulating the individual information of Canada without telling them.

Canada banking info collection: PM Justin Trudeau reacts

Our PM reacted by stating that the federal government is ensuring that the individual information of Canadians is secured. Stats Canada will certainly make use of the anonymized information for analytical functions only. No details will be revealed.

He stated that he understands (which is a way of repeating rumours or hearsay, or worse, that he truly does not understand whatsoever) that Statistics Canada is proactively involved with the Privacy Commissioner’s office, to make sure Canadians’ financial details stays safeguarded and private. High-grade and prompt information is important to guaranteeing that federal government programs stay pertinent as well as efficient for Canadians.

Canada banking info collection: Ms. Bergen had not been pleased, and neither ought to we

Ms. Bergen responded that the Liberal federal government strategies to get access to the individual details of Canadians without their knowing about it or permission. This consists of details like payments, internet purchases, charge card purchases, cash withdrawals and e-transfers between members of a family.

She wants to know if the Prime Minister will do the right thing. Will he guarantee Canadians that this invasion into their lives will be stopped?

Canada banking info collection: PM Justin Trudeau reacts by attempting to fault the Conservatives

Our PM reacted by stating that Canadians appropriately expect that federal government agencies like Statistics Canada will collaborate with the Privacy Commissioner. He said that Stats Canada will make certain that Canadians’ exclusive lives are shielded. Good words up until we hear that CRA obtained accessibility to the info, or even worse, cyberpunks!

Then for the good part. PM Trudeau said to the House of Commons and all Canadians that it was the Conservative federal government that selected to end the long-form census as a method of protecting an individuals’ exclusive info. So our PM is saying that in some way our private financial transactions is a straight substitute for basic analytical demographics? I don’t think so.

PM Justin Trudeau after that doubled down by stating that the Conservatives’ assaults on information and privacy continue.

Canada banking info collection: Mr. Alain Rayes (Richmond– Arthabaska, CPC)

Mr. Alain Rayes also participated. He repeated that Canadians expect the federal government to secure their private details, yet the Liberals wish to gain access to private information on 500,000 Canadians without their approval. They intend to consider loan repayments, ATM withdrawals, credit card transactions, financial institution money transfers and social insurance numbers.

Exactly how can the Prime Minister warrant these activities, which are plainly an offence of Canadians’ personal privacy?

Canada banking info collection: Blah, blah, blah.

Prime Minister Trudeau responded with more of the same. He said again the government will constantly make sure (a warranty?) that the individual information of Canadians is safeguarded. He said that Stats Canada will make use of the anonymized information only for analytical goals. No details will be revealed (does analytical purposes only include analysis by Canada Revenue Agency?).

He repeated that Statistics Canada is proactively involved with the Privacy Commissioner’s workplace on this task and is dealing with it to make certain Canadians’ info continues to be secured and private.

My personal view is that the primary federal government program that would certainly most take advantage of understanding my private financial information is the income tax collection system in Canada!

Canada banking info collection: The law

The Personal Information Protection and Electronic Documents Act (S.C. 2000, c. 5) (PIPEDA), Canada’s federal private sector privacy legislation, was specifically amended on the issue of privacy. Schedule I of Section 5 of PIPEDA states that:

“4.3 Principle 3 – Consent
The knowledge and consent of the individual are required for the collection, use, or disclosure of personal information, except where inappropriate.” (emphasis added).

What is one of the exceptions?

4.3 Principle 3 – Consent
“Note: In certain circumstances personal information can be collected, used, or disclosed without the knowledge and consent of the individual. For example, legal, medical, or security reasons may make it impossible or impractical to seek consent. When information is being collected for the detection and prevention of fraud or for law enforcement, seeking the consent of the individual might defeat the purpose of collecting the information.”

So, looking at the exceptions, this only bolsters my hunch. I am convinced this is not only to evaluate the viability and effectiveness of existing social programs. Rather, it will be used to evaluate and amend the effectiveness of tax investigation programs. This will provide direct new information to the Canada Revenue Agency to bolster current and start new investigations. That is why the information is being collected without Canadians’ consent to invade their privacy.

Canada banking info collection: May I have this dance?

Justin Trudeau just kept dancing and blaming Conservatives. This new invasion of privacy really doesn’t have anything to do directly with insolvency. However, if I am correct in my guess, and the information is going to be used by CRA, then it may well.

People may very well have engaged in tax evasion. I, of course, do not condone it. Criminal charges aside, Canadians who evade taxes and get caught will now have a huge income tax bill to pay. Many won’t be able to.

There will be many high tax debtors who will not be able to afford a voluntary payment with CRA. Such a voluntary payment plan will need you to pay your original income tax debt. You will not get any reduction in all penalties and interest. So you will be paying in full to Her Majesty. For those who will not be able to afford such a voluntary payment plan, bankruptcy is definitely not your first option. You would have to look at a debt settlement restructuring proposal as a first choice. Bankruptcy should be your last option.

Canada banking info collection: What about you?

If you have received legal advice that you don’t really have a case, or you can’t afford to fight it out in Court or pay the income tax debt that renders you insolvent, then you need the help of a professional trustee.

The Ira Smith Team has years of experience of negotiating with CRA on behalf of tax debtors. If you are an individual person and owe CRA and your other creditors, other than for any loans secured by your home, less than $250,000, you can enter into a consumer proposal debt settlement plan. If you owe more or are a corporation, we can still negotiate with CRA and restructure you with a restructuring proposal debt settlement plan.

Our approach for each file is to create an end result where Starting Over, Starting Now takes place. This starts the minute you are at our door. You’re simply one phone call away from taking the necessary steps to get back to leading a healthy, balanced hassle-free life, recover your money and move on to the next investment opportunity.

In conclusion, call us today for your free consultation.

Federal budget process overview: Introduction

A recent The Forum Poll™ indicates that for about 61% of the Canadians polled, a balanced budget is more important than spending on government services. The federal budget process overview is that Prime Minister Trudeau and Finance Minister Morneau have signed off on a budget that will have the federal government spend more than it receives in revenue. So, Canada’s debt will continue to grow.

The poll results showed that:

40% don’t like the budget;
17% were in favour;
31% were neutral; and
12% did not know.

Federal budget process overview: Budget spending highlights

On February 27, 2018, Finance Minister Bill Morneau tabled the Liberal Government’s budget titled “Equality + Growth: A Strong Middle Class”. The federal budget process 2018 calls for $338.5 billion in overall planned spending. The budget projects an $18.1 billion deficit in 2018-19.

The highlights of the government’s proposed major spending included in the budget are:

Nearly $5 billion invested in Indigenous communities over 5 years;
Canadian science and research spending of almost $3.2 billion over five years;
$2.6 billion over 5 years to promote gender equality in science and business;
$1.2 billion over 5 years for a new parental sharing benefit; and
$2 billion over 5 years for international aid

Federal budget process overview: Deficits and debt

I normally don’t think of Prime Minister Trudeau or Finance Minister Morneau as being like an average Canadian, but the 2018 federal budget canada news shows me that the government is budgeting now like an average Canadian.

What do I mean? Well, I have written many times about the average family household debt rising over the last few years. Some of the blogs I wrote are:

I have also written on the need for Canadians to reign in their spending and have a proper household budget. Some of my blogs on that topic are:

Federal budget process overview: Our government is like the average Canadian

All of these blogs have a common message that the average Canadian is:

amassing too much debt;
using debt to supplement income to meet their spending habits;
although they can afford minimum payments on the debt in this low-interest rate environment, trouble will begin when rates creep up; and
in need of a proper household budget so that borrowing can stop, existing income can be used for expenses and debt repayment.

That is why I say that the government created the 2018 federal budget deficit and the debt just like the average Canadian does. The government has one trick up their sleeve to raise more money than us normal Canadians have; they can just increase the taxes we pay to try to cover off the extra deficit spending.

Federal budget process overview: The practical problem

The practical problem for the government is that although Canadians say that they prefer a balance budget, they also like spending that they believe will help them. When polled on the individual spending plans, the results were favourable. Although it does not seem that the poll asked the question “Would you favour higher taxes to pay for the spending so that there will not be a deficit”, I suspect the answer to that question would be a loud NO!

So the government has to make promises if it wants to get re-elected. The government also knows that Canadians will like spending for things they believe will help them or their quality of life. So what the federal government is hoping is that this will translate in the voting booth for more votes for the Liberal government than votes from people who don’t like deficits.

Federal budget process overview: Difference between budget deficit and federal debt

The 2018 federal budget Canada shows that Ottawa has no plan to stop deficit spending or reduce federal debt in the short or medium term. The annual deficit represents the amount the government spends in any year above what it earns in revenue in that same time period. The federal debt is the amount of money the government has to borrow to pay for cumulative amount of deficits.

Previous Liberal and Conservative governments devoted efforts to balancing the budget and paying down debt. This government isn’t.

Federal budget process overview: If you are serious we can help you reach your financial freedom before our government does

What about you? Do you enjoy the stress you feel every month when you do not have enough money to go around? Have you been avoiding the tough discussions with your family about what spending has to be cut out to balance your books? Before your life gets totally out of control, now is the time for you to take positive steps to gain back your financial freedom and your life.

If you are serious we can help you reach your financial freedom before our government does. We are very interested in helping honest but unfortunate people whose spending was perhaps out of control in the past because of an unexpected life event. Even if your spending remains a problem, we can help you get back on course.

Contact the Ira Smith Trustee & Receiver Inc. Team today. We’re not politicians. We are experts in helping good people regain control of their financial and personal lives. If you give us a call today we will work with you to find one of the bankruptcy alternatives so that you can cut your stress and regain control over your finances, Starting Over, Starting Now.

FEDERAL BUDGET PROCESS OVERVIEW 0 — federal budget process overview