Hidden cash income

So the Feds [the Canadian Revenue Agency guys] have been looking at hidden cash sales:

Agency auditors are swooping in on restaurants across the country to determine whether their electronic cash registers contain illegal software that can selectively delete sales from official accounting records.

After 2 years they have discovered about  $40 million in “phantom” transactions. This is not to mention the cash transactions that aren’t very hidden and don’t need any software to disguise them. They are, like an elephant in a barn, there for all to see. We mean the cash sales at certain Farm Markets [we don’t mean Elderkins!], markets which are replicating like rabbits. Think about it. The expenses come off the business books but the market transactions are no receipt, cash sales. How much of that cash gets into the business books do you think? Any tax paid?

Restaurants are the first target of this phase of the ESS [Electronic Sales Suppression] investigation ” because of the high volume of cash sales.”

Federally, it’s a criminal offence to alter accounting books and records to dodge taxes, with penalties of up to five years in prison and fines of up to twice the evaded amounts.

We don’t like taxes, especially when they are misspent, but we don’t like unfair treatment either. How about declaring all of Wolfville a Farm Market then all the businesses could join in.

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9 responses to “Hidden cash income

  1. I have been saying that for years. Cash transactions and no receipts. Do I blame the Wolfville Farmers Market for my shop closing, you bet I do.

  2. On the front page of the Athenaeum “The market has moved from outside to in and is now hosted at Acadia’s own Student Union Building” furthur on ” Our Acadian organizers are sad to report that we have only been allowed four occasions to host the booth.” AM I understanding this, the market moves into Acadian building and then tells them that they can only have a table four times. These market people are very powerful, they seems not only to have so much power in town, and now they have spread to Acadia.How many of the market people actually live in town and pay taxes here? This is really a case of the tail wagging the dog.

  3. You have that upside down, George. How many of the people of Wolfville have a table or booth at the market?
    Are they they only ones who have the right to sell goods?
    Most of the farmers and producers of goods live outside the town limits. No cows or chickens allowed in town, remember?
    Power to the marketeers.

    • All have a right to sell their goods but let’s have an equal playing field for all merchants and not a special platform for the “Marketeers”. When the bizzare ..oops! bazzar comes to town they should be charged parking fees for the premium parking places they and their customers occupy .They should not sell produce without receipts and fuel the underground economy with undeclared pocketed cash on the backs of the Wolfville taxpayers and the downtown merchants. Take your “Market” ,beads,baubles,samozas, veggies, troubadours, organics and all out of our town and back to the farm from whence they came ( if in fact they are farm produced ) and let the legitimate, local indigenous businesses thrive and survive.

  4. If it were only farmers at the FARMERS MARKET there wouldn’t be a problem, it’s all the other stuff.

    • John, it isn’t exactly ethical to snipe at the market anonymously. In fact it is downright bad manners.
      The market does and has brought in people from all over including HRM and the south shore who just love to eat in our restaurants and shop in our other stores and get away from the big box stores. Surely you don’t think all the cars parked in Wolfville belong to people who only go to the market? Perhaps the Royal Bank and the bargain stores would like to withdraw and that space could all be used for a year round market?

      Complaining about everything in Wolfville makes me wonder why you don’t refresh us with solutions, rather than so many biting comments about those who are voted into positions of authority.

      Have you actually trained as a sniper?

      • John???

        BTW – word on the street is that the Wolfville “Farm” Market will be using the DeWolfe Fruit Building as permanent digs so Royal Bank and The Bargain Store won’t have to move..

      • Betty I hope the “Market ” is not attracting folk from HRM and beyond..that can’t be good for the environment..”carbon footprint” and all that! As a keen observer of the ” Market’ a former business owner in Wolfville, a current Wolfville taxpayer and University employee , I am sure that if you asked the taxpaying businesses in Wolfville as to whether they have witnessed an increase in sales on “Market Days” I am sure you would be met with a resounding “NO”. As for eating in our restaurants..I have my doubts. Most come to the ” Market” hand over the cash then drive away.. there is very little residual benefit to the Town other than the costly ( to taxpayers and businesses) “Wolfville ambiance” that we have become accustomed to from the local administration.
        Let’s keep our own local businesses healthy with the same incentives that are afforded the ” Market” such as, cheap rent, free parking, free advertising and the ability to pay for produce literally “under the table” where the cash box is kept! Oh! and for the record the name is David.