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Cost of housing in Canada

Kirkhill said:
Not quite.

The holding company bought the paving service on the market at the market rate rather than letting the subsidiary buy it directly. The holding company then charged the packers for the paving service plus a fee for their service.

That moves money from the subsidiary to the holding company. That allows for adjusting profits and losses which in turn allows for tax advantages. It can be especially advantageous if the holding company is an offshore company working under a different tax regime. Other ways to move money are to loan the money to the subsidiary and pull back the interest over time. Yet another option is to charge the subsidiary a market support fee.
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I would make for a horrible white collar criminal 😐
 
CBH99 said:
I just wanna make sure I am following this correctly...

Management said "don't worry about this stuff, we got it covered..." And then went on to pay someone to do the job at a substantially higher cost than the bids that had been submitted??

(Tossedsome company money to a friend of theirs?)
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Google Peter Pocklington and you won't be confused by crooked obscure business practices. Individuals like him were (still are?) all too common in Alberta in the 70s, 80s and 90s. The "Gainers" paving story would be just a mild anecdote in comparison to the shenanigans that Pocklington pulled to strip assets from subsidiary companies and ultimately left the Alberta Treasury Branch (i.e., the Government of Alberta owned, but unregulated, bank) holding the bag to the tune of hundreds of millions of dollars in defaulted loans.
 
Blackadder1916 said:
Google Peter Pocklington and you won't be confused by crooked obscure business practices. Individuals like him were (still are?) all too common in Alberta in the 70s, 80s and 90s. The "Gainers" paving story would be just a mild anecdote in comparison to the shenanigans that Pocklington pulled to strip assets from subsidiary companies and ultimately left the Alberta Treasury Branch (i.e., the Government of Alberta owned, but unregulated, bank) holding the bag to the tune of hundreds of millions of dollars in defaulted loans.
Click to expand...

Unfortunately "obscure" is probably more exact than "crooked" because some large multinationals exploit similar practices legally to ensure that profits are realized in the "least cost" environment. Sometimes that is a low rent off shore like the Turks and Caicos. Sometimes it is places like Ireland. Sometimes, for the very large "national champions" it is back on their home turf where they have influence with Premiers, Prime Ministers and Presidents.
 
Ironic coming from the guy who led an historic spending spree, dumping over $8B between January and March this year.

The comedy is appreciated though....

'Human impact': B.C. premier urges Bank of Canada to halt further rate hikes​

VICTORIA — British Columbia Premier David Eby has called on the Bank of Canada to halt further interest rate hikes, saying people are “hurting,” and another rate increase next month might worsen, and not reduce, inflation.

In a letter Aug. 31 to Bank of Canada governor Tiff Macklem, Eby urged him to consider the “human impact” of rate hikes, which the bank has employed as an anti-inflationary measure, before making a decision Sept. 6.

Asked why he reached out to Macklem when the Bank of Canada is an independent entity, Eby said he’s hearing every day from B.C. residents “crushed by the cost of daily life,” and it’s his job to speak up for them.

“I think it is critically important to go on the record … to point out to the Bank of Canada that Statistics Canada is saying that the biggest driver of inflation in our country right now is rising mortgage rates,” Eby said Aug. 31 during an unrelated press conference.

‘Pain on families’​

Eby acknowledged that he is the first premier to raise the issue with the Bank of Canada and said he also wrote to the federal government to suggest ways they could “work together to bring down costs that don’t involve inflicting this kind of pain on families.”

He highlighted the effects of rising rates on housing in particular, saying much-needed rental housing projects are being put on hold as a result.

“We need all hands on deck to deal with the housing crisis and rising rents,” he said. “We need to build a lot of housing, we need to keep the cost of housing down to address inflation.”

The Bank of Canada had raised rates 10 times since March last year, with the current lending rate at five per cent, the highest in 22 years, Eby’s letter said.

Stop rate hikes, B.C. premier tells Bank of Canada | Financial Post
 
daftandbarmy said:
Ironic coming from the guy who led an historic spending spree, dumping over $8B between January and March this year.
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It is. I wonder if has occurred to him to call up Brother Jagmeet and ask him to stop pressing the federal government to spend more money, which works at cross purposes to the BoC's efforts to control inflation. Both of them are throwing logs on the fire while whining at someone else to put it out.
 
Brad Sallows said:
It is. I wonder if has occurred to him to call up Brother Jagmeet and ask him to stop pressing the federal government to spend more money, which works at cross purposes to the BoC's efforts to control inflation. Both of them are throwing logs on the fire while whining at someone else to put it out.
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No, no, no. You clearly have no understanding how economics works. See, if one level of government can cause another level of government to spend money, that isn’t inflationary…

<sarc>
 
dapaterson said:
Look at the team implicated in this. No TV or movie writer would get away with characters named Phoenix Kiss, or a Croatian fitness instructor who's a specialist in magic mushrooms.

www.municipalsolutions.ca

The Team — Municipal Solutions

www.municipalsolutions.ca www.municipalsolutions.ca
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Hey! Don't forget Melanie....."has appeared before the Local Planning Appeal Tribunal on numerous occasions."

And??
 
dapaterson said:
Look at the team implicated in this. No TV or movie writer would get away with characters named Phoenix Kiss, or a Croatian fitness instructor who's a specialist in magic mushrooms.

www.municipalsolutions.ca

The Team — Municipal Solutions

www.municipalsolutions.ca www.municipalsolutions.ca
Click to expand...
I love that they refer to Mr. Kiss as "the fixer"... I think people have been watching too many bad movies and TV shows.
 
dapaterson said:
Perfectly normal to be unregistered lobbyists with a $1M incentive to get land rezoned, meet with the premier and two days later buy a new Maserati, right?

https://twitter.com/x/status/1697982241576509888
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Is it too much to ask these buffoons to leave the 3rd world corruption scandals until AFTER they leave office!?

My goodness...between Justin & the Ditzy Dozen and now this, we're starting to read like we are somewhere in central Africa!
 
RangerRay said:
It would be nice if there was an actual policy/set of policies that could be hung around JT’s neck that accounted for this spike in house prices. Otherwise it’s just a coinkidink.
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there is though. Changes in immigration numbers without ensuring sufficient infrastructure. inflationary spending by government are the two biggies
 
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