John Wires @johnwires
🇨🇦 Corporate lawyer for founders and shareholders of tech, software, e-commerce, AI and other businesses @wireslaw (2013). wireslaw.ca Canada Joined April 2009-
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The vibe from ppl who invest in Canadian companies that create jobs to employee ppl, pay payroll taxes etc. 👇
The vibe from ppl who invest in Canadian companies that create jobs to employee ppl, pay payroll taxes etc. 👇
After battles with the US, the Canadian government is moving ahead with its longstanding plan to enact a Digital Services Tax. Canada paused the tax after threats from the US on countermeasures. Big tech in the US was furious and lobbied Biden hard to take measures to ensure…
Reminder that for most people, with a tenacious lawyer after you, there is no such thing as being #anonymous online —> Clancy v Farid, 2023 ONSC 2750. The case saw one of the largest #defamation damages awards in Canada ($4.7 million to compensate 53 plaintiffs) against an…
I wish YouTube and social media sites let you tinker with your own algorithm. Simple sliding scales that you could use… slide up more educational content, slide down the beer league hockey memes this month.
Starting to see AI bots that appear to be searching the web looking for use of trademarks that may infringe the rights of a registered TM holder. They spray fire demand emails to website owners claiming unauthorized use of a TM. They even contact website owners via GoDaddy’s…
The thumbs up emoji is under appeal. 👍 "An appeals court in Regina, Saskatchewan, took up arguments on Tuesday on whether a Canadian judge correctly ruled that a thumbs-up emoji can act as a legally binding signature for electronic contracts." courthousenews.com/canadian-appea…
Since #VPNs are trending, time to reshare this: VPNs, Should You Use One? medium.com/@johnwires/vpn… Also, check out iCloud+ Private Relay support.apple.com/en-us/102602
Another US AI copyright lawsuit, this time involving the late comedian George Carlin. This one will be interesting because even if the copyright claim fails, Carlin’s estate is relying on arguments around the use of his name and likeness. The case involves an AI-generated…
Ouch…
Seismotech is trying to sue consumers who bought, installed and used Ecobee smart home thermostats. It alleges that the devices infringe patents they own. Seismotech claims an accounting of profits from each individual defendant (in a form of “reverse class action”), the…
I thought the ArriveCan app was bad, but where does the kickback economy end with these guys? How many billions has the Government of Canada leaked out of the coffers in the last 8 years?
I thought the ArriveCan app was bad, but where does the kickback economy end with these guys? How many billions has the Government of Canada leaked out of the coffers in the last 8 years?
New decision on China’s approach to copyright protection for AI generated works. 👇
New decision on China’s approach to copyright protection for AI generated works. 👇
Employee Ownership Trusts 👇 I also see this becoming popular -- initially introduced in Budget 2022, and now may go live January 1, 2024. "In its fall economic statement on Tuesday, the government proposed exempting from taxation the first $10 million in capital gains…
Employee Ownership Trusts 👇 I also see this becoming popular -- initially introduced in Budget 2022, and now may go live January 1, 2024. "In its fall economic statement on Tuesday, the government proposed exempting from taxation the first $10 million in capital gains…
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@johnwires @Tablesalt13 My guess is they mean ~40k individuals *per year* exceed $250k in cap gains. It’s not necessarily the same 40k people every year. They also say “40k people” which conveniently omits the fact that ALL corporations and trusts are affected. It’s way more than 40k people affected.
I ❤️ Googling gov scandals in 🇨🇦.
Who are the greater innovators - academia, or the tech sector and who is the Trudeau govt listening to? Hundreds of tech leaders and entrepreneurs joined the Shopify founder in post-budget dismay this week, signing an open letter decrying the tax changes. nationalpost.com/news/politics/…
I've been saying something similar since I heard about these tax increases last week. Talking about 0.1% numbers is very disingenuous, and not remotely close to the truth.
If you don't want to listen to me, take it from one of the brightest tax minds in the country.
Want to know who the 1% are who need to pay a bit more? Academia. They need to pay an annual tax surplus on their tenure and DB pension plan. Let’s equalize things on a risk level.
Budget 2024: "Solving Canada's housing shortage by making principal residences the last remaining unlimited-ceiling tax-shelter." Personally, ill be maxing it out once prices have stabilized. If they want to juice real-estate further, we can play that game.
Steve Jobs emailed Bruce Chizen (CEO of ADBE) after he attempted to poach employees from Apple What an absolute guy
@Tablesalt13 Holders of defined benefit pension plans are the 1%
John, the Federal employee and Liberal voter from Central Ottawa with a 2.5M fully tax-exempt defined benefit pension (until withdrawal): "Tax those rich doctors who use their corporations to shelter their retirement saving from taxes!" THIS THE PROBLEM WITH CANADA!
Many professionals USED THEIR CORPORATION as an RRSP. Doctors, lawyers, accountants. Their retirement is locked up in capital gains inside their corporation. Tax deferral WAS the entire point of incorporating. Now, on June 25th, theyll get hit with 32% more tax. Savage.
Is this the Canada you want to leave to your kids? Look at what Trudeau did in 2019 with the tax changes to small business and the self employed. It wasn't enough and now going back at them again with round II. Then look at the MASSIVE growth in the public sector. This was…
A story of Capital Gains Friend is a plumber Started own business working out of his truck Was moderately successful, worked very hard Had to take a job working in a bar at night to make ends meet Eventually plumbing business could stand on its own
Business went reasonably well, made about $60k a year in 2000 Saved up a little money ($10K), and bought a small strata warehouse in BC for $250K Commercial Mortgage was $2,000 a month @ 7.5% Friend skipped many paycheques to make mortgage Had to get second job on occasion
Plumbing business grew Hired an apprentice Quit second job Income kept growing More employees Business was solid Took home about $100K in 2010, but warehouse mortgage was also getting paid
After 20 years, in 2020 decided to sell the small strata warehouse, which was paid off Due to Govt real estate bubble, small strata now worth $600K Sold it at $600K and had profit of $350K on the strata after 20 years investment
In 2020 friend had to pay approx $95,000 in capital gains on sale of strata warehouse In 2024 that sale would require $105,000 in capital gains 20 years investment 20 years struggling to survive 20 years of risk, govt fees, taxes, payroll etc $12,000 per year “profit”
Govt says my friend the plumber is a wealthy Canadian and demands he pay more, instead of reducing Govt spending. The plumber has no pension, unlike Govt employees. Taking more from the plumber to pay Govt pension is unsustainable Canada is on a path of implosion
Siri, show me a tweet from somebody who’s never paid their own cell phone bill.
We’ve cut the cost of cell phone plans in half since 2019 — in part by increasing competition. Next, we’re going after the junk fees on your phone bill, so you can do things like cancel your plan or switch to a cheaper one with no added charges. #Budget2024
This is utter bullshit.
We’ve cut the cost of cell phone plans in half since 2019 — in part by increasing competition. Next, we’re going after the junk fees on your phone bill, so you can do things like cancel your plan or switch to a cheaper one with no added charges. #Budget2024
I try not to get political on here, but there's something I want to try and clear up regarding the recent tax changes First off, reasonable people can have disagreements on appropriate levels of taxation However, a false narrative has emerged that the changes will only affect…
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