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DKS
Damn Kidney Stones
Premium,ExMod 2002
join:2001-03-22
Owen Sound, ON
kudos:2
reply to MaynardKrebs

Re: GTA is Full of Them - Another "My Rights Are More Impor

said by MaynardKrebs:

said by Last Parade:

I thought churches don't pay property taxes? Sales taxes in some provinces?

You and I, if we are fined by a court and have to sell say 1000 shares of Apple stock today to pay the fine, and our ACB is $8/share -- well we first have to pay our capital gains tax on the stock sale price (today $525/share) less $8 and then pay the fine. Which makes it necessary to sell more stock than is required to simply pay the fine.

On the other hand, a religious body doesn't pay capital gains tax when they sell off assets which have greatly appreciated over the years in order to pay damages in pedophilia cases.

That presumes the religious body owns shares in any company at all.
--
Need-based health care not greed-based health care.

MaynardKrebs
Heave Steve, for the good of the country
Premium
join:2009-06-17
kudos:4
said by DKS:

That presumes the religious body owns shares in any company at all.

You'd be surprised at the value and breadth of the holding on many religious institutions (I'm not talking about individual congregations). I used to sell fixed income products to all manner of religious and other government & non-government tax-exempt institutions as part of my job, and help them mathematically model their portfolios.


DKS
Damn Kidney Stones
Premium,ExMod 2002
join:2001-03-22
Owen Sound, ON
kudos:2
said by MaynardKrebs:

said by DKS:

That presumes the religious body owns shares in any company at all.

You'd be surprised at the value and breadth of the holding on many religious institutions (I'm not talking about individual congregations). I used to sell fixed income products to all manner of religious and other government & non-government tax-exempt institutions as part of my job, and help them mathematically model their portfolios.

I am well aware of a number of denominational portfolios. I'm on the Finance and Investment Committee of one denominational group. Right now they are not heavily in equities. Lots of cash sitting there in short term instruments.
--
Need-based health care not greed-based health care.