“The evidence is also that all of these contractors work solely for the Pride Group upon which they rely for their and their families’ income.- CRA should see this as a wide open option for tax evasion both by PGL and the contractors - I would allege that none of them file taxes as dependent contractors and yet they are treated as such by provincial law.
I wonder how long it would take for CRA to start coming after us above board carrier's if we stopped the source deduction checks from being sent in before we where being audited again!! 3 months or less?
And they will do it with zero regard for the wake of damage they leave behind them. This is a giant stain on the entire transportation industry.
someone did, thats how they bought the company back, but that well gets dry quick.
There must be someone out there feeding them capital, but its got to be getting close to the bottom by now.
Possibly those Dubai or other off shore accounts... I'm sure there is not shortage of cash lying around offshore to be used if needed.
They most likely paid themselves a substantial amount of cash while Pride was running, and then, when it went bankrupt, they used the money they had saved to buy out the assets at a fraction of their value.
agreed but i saw somewhere they did get financing from a firm to fund the buy back. something called Maynbridge or something
Yes, they pulled out all of the retained earnings in December of 2023,
