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The reason why the Feds ended their version of an investor immigration scheme is because a study found that refugees ended up paying more in income taxes than i

The reason why the Feds ended their version of an investor immigration scheme is because a study found that refugees ended up paying more in income taxes than investor immigrants lmao. So yeah immigrants are great, but it has been abundantly clear that the rich persons buying citizenship are doing so just to have a passport of convenience and buy land as a safe investment and the gains for the rest of Canadian society from that are weak.

dsfyu404ed 7y ago
>a study found that refugees ended up paying more in income taxes than investor immigrants Citation? I mean, presumably there's a citable study out there somewhere. That immigrants in general pay in more taxes sounds plausible. That refugees are a greater net positive (taxes in minus benefits out) than investors, who are basically all wealthy enough to use minimal government services, seems like a stretch.
- Tiktaalik 7y ago
  There's a bunch of articles if you google the right words, but basically in 2014 Jason Kenny cancelled the program because a Canadian government data showed that millionaires weren't really hanging around and contributing. > According to CIC, investor immigrants reported average earnings of about $18,000 in their first year and just $28,000 after 15 years. After three years, only 47 per cent of such immigrants reported any income. The Canadian average is 67 per cent. > Meanwhile, refugees (those who come to Canada under hardship) reported first-year average incomes of $20,000 and after 15 years those incomes rose to $30,000. Two-thirds of refugees reported income by their fifth year, on par with Canada’s average. > After five years, only 39 per cent reported income, suggesting investor immigrants may leave the country (or declare non-residency) after the citizenship process is complete. https://nationalpost.com/news/canada/refugees-reporting-higher-earnings-in-canada-than-investor-immigrants https://nationalpost.com/news/canada/refugees-reporting-high...
damnyou 7y ago
Sounds like a good reason to soak all the rich, not just the foreign rich.
eps 7y ago
Canadian investor immigration scheme required purchasing government bonds and holding them, but only for certain amount of time. After that time they could sell bonds and get their money back. It was more of visa-for-a-loan program than anything else. Complete bullshit.

dsfyu404ed 7y ago

>a study found that refugees ended up paying more in income taxes than investor immigrants Citation? I mean, presumably there's a citable study out there somewhere. That immigrants in general pay in more taxes sounds plausible. That refugees are a greater net positive (taxes in minus benefits out) than investors, who are basically all wealthy enough to use minimal government services, seems like a stretch.

Tiktaalik 7y ago
There's a bunch of articles if you google the right words, but basically in 2014 Jason Kenny cancelled the program because a Canadian government data showed that millionaires weren't really hanging around and contributing. > According to CIC, investor immigrants reported average earnings of about $18,000 in their first year and just $28,000 after 15 years. After three years, only 47 per cent of such immigrants reported any income. The Canadian average is 67 per cent. > Meanwhile, refugees (those who come to Canada under hardship) reported first-year average incomes of $20,000 and after 15 years those incomes rose to $30,000. Two-thirds of refugees reported income by their fifth year, on par with Canada’s average. > After five years, only 39 per cent reported income, suggesting investor immigrants may leave the country (or declare non-residency) after the citizenship process is complete. https://nationalpost.com/news/canada/refugees-reporting-higher-earnings-in-canada-than-investor-immigrants https://nationalpost.com/news/canada/refugees-reporting-high...

damnyou 7y ago

Sounds like a good reason to soak all the rich, not just the foreign rich.

eps 7y ago

Canadian investor immigration scheme required purchasing government bonds and holding them, but only for certain amount of time. After that time they could sell bonds and get their money back. It was more of visa-for-a-loan program than anything else. Complete bullshit.