Will Canada ever have a Fair and Appropriate Tax System?

Now 60 millionaires are going to be awarded Canadian residency so living in Canada now is up for sale to the highest bidder.

With all the ensuing tax breaks these millionaires get with our fucked up income tax loopholes, these millionaires will probably end up paying less tax than you or I.

60 millionaire immigrant investors to be offered permanent residency

Ottawa will accept up to 500 applications, but only 60 millionaires can make the cut

The government is hoping to have better luck with this program than it did with the last one.

"Under the former Immigrant Investor Program (IIP), immigrant investors had to invest $800,000 in Canada’s economy in the form of a repayable loan, without meeting skills and abilities requirements of most of Canada’s economic immigration programs," the government acknowledged in a public statement before MPs returned to Ottawa this week.

"Research indicated that immigrant investors under the previous program were less likely than other immigrants to stay in Canada over the medium to long term. Also, they contributed relatively little to the Canadian economy, earning very little income and paying very little tax."

The pilot immigrant investor program comes after the government said it scrapped the old program — which critics had described as "cash for citizenship" — because it had been riddled with fraud.

The program had also been put on hold in 2012 because of a huge backlog of applications. 

Thousands of millionaires who had been waiting for permanent residency under the program sued the federal government after it wiped out the backlog of applications.

A Federal Court judge ruled against the more than 1,000 would-be investor immigrants last June.

http://www.cbc.ca/news/politics/60-millionaire-immigrant-investors-to-be...