Should Canadian citizens be allowed to save or invest their money in offshore bank accounts?
An offshore (or foreign) bank account is a bank account you have outside of your country of residence. The benefits of an offshore bank account include tax reduction, privacy, currency diversification, asset protection from lawsuits, and reducing your political risk. In April 2016, Wikileaks released 11.5 million confidential documents, known as the Panama Papers, which provided detailed information on 214,000 offshore companies serviced by the Panamanian Law Firm, Mossack Fonesca. The document exposed how world leaders and wealthy individuals hide money in secret offshore tax shelters. The…
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Province/Territory
Electoral District (2011)
Response rates from 503 Conservatism voters.
67% Yes |
33% No |
56% Yes |
28% No |
11% Yes, as long as offshore income is reported |
3% No, and neither should corporations and business organizations |
2% No, too many wealthy citizens are abusing loopholes in offshore banking laws to evade taxes |
Trend of support over time for each answer from 503 Conservatism voters.
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Trend of how important this issue is for 503 Conservatism voters.
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Unique answers from Conservatism voters whose views went beyond the provided options.
@9RBTBFT4mos4MO
Yes, but there should be penalties and the income should be taxed at a higher rate than income earned from Canadian investments.
@9QZCYDN4mos4MO
Yes, but it must be a trusted offshore bank and all income must be reported in order to avoid loopholes by corporations and the wealthy
@9K6M4549mos9MO
Only for the lower class people, rich people depend but some should be good as long as they're not over millionaries or billionaries and as such.
@9K58RGL9mos9MO
Yes, long as the income is reported and taxes are paid accordingly. Corporations and businesses should not be able to do so to evade taxes or audits of their financial dealings.
@9FQ2ZJY1yr1Y
Yes, as long as it is properly reported and taxed and only when existing loopholes are effectively closed
@9FM9QN91yr1Y
Yes, only if the intention/cause is acceptable.
@9F2VYKP1yr1Y
i don't have an opinion on this.
@9F5KMPV1yr1Y
No, scummy rich people do it to evade taxes.
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