This article was last updated on April 16, 2022
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Newly surfaced documents claim that the chair of the Royal Canadian Mint and former adviser on international taxation to the federal Finance Department, James Barton Love, assisted in masterminding a transfer of millions of dollars owned by a prominent Canadian family through offshore tax havens in part of an allegedly elaborate “tax avoidance scheme.”
Documents say that more than $8 million were transferred to offshore entities in Bermuda, Barbados and Antigua, in light of suspicion that the arrangement may lead to potentially hundreds of thousands of dollars in “taxes, interest and penalties.” Additionally, it says that there were concerns about secrecy that lead to specific instructions to shred files. Consequently, hundreds of records have now formed part of an extensive lawsuit against James Barton Love, a Toronto tax lawyer who chairs the mint’s board of directors, and others by descendants of former Prime Minister Arthur Meighen. The lawsuit was smoothly settled in 2011, which made family members to confess that the offshore transactions, starting from 1996 onwards, were indeed unlawful and negligent and that Love “breached his fiduciary duties and acted oppressively.”
In sworn statements, Love refuted that the offshore transfers “resulted in significant savings of Canadian tax” for Meighen’s heirs, whom he claims to approximately amount up to $1 million. Additionally, he further categorically denied any breach of trust and said he had “specifically advised” there were risks to the offshore arrangement, although none of the allegations received a fair chance to be tested in court.
The Prime Minister must fire him immediately. Furthermore, those who use offshore tax havens to avocomment_ID paying Canadian taxes are moral criminals whose names. addresses and photographs should be exposed every year so that other Canadians can spit on them.