I'm only a few months into studying how to live without a gov't made dog collar around my neck. The following could be accurate or innacurate..which is why I'm posting for review. This is Canada Income Tax related but if you are from the USA please post your opinion of how it would work/change in the USA:
I first got the following idea from this site:
http://www.natural-person.ca/incometax.html
How valid is some of that info? In theory it makes sense.
Now to the law:
s. 2(1) of the Income Tax of Canada states:
An income tax shall be paid, as required by this Act, on the taxable income for each taxation year of every person resident in Canada at any time in the year.
The Income Tax Act of Canada defines "person" in s. 248(1) as:
"person", or any word or expression descriptive of a person,
includes any corporation, and any entity exempt, because of subsection 149(1), from tax under Part I on all or part of the entity's taxable income and the heirs, executors, liquidators of a succession, administrators
or other legal representatives of such a person, according to the law of that part of Canada to which the context extends;
How valid is this:
If you work in the living (NOT for or as the STRAWMAN) and never deposit any money into a bank account in which the STRAWMAN owns, the money you earn is tax-free.
If the foregoing makes sense, then if you are self-employed and get a personal cheque from someone for earnings (commission, sales, whatever), can you do any of the following:
1) Have cheque made payable to you (John-Howard: Doe). Endorse the cheque to a friend or family member having them cash it at their bank. Later on they just give the money back.
2) Have cheque made payable to "Bearer", and again give cheque to friend or family member having them cash or deposit it at their bank. Later on they just give the money back.
3) Receive earnings in ONLY gov't issued bank notes.
Like it or tear it apart please!
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