An offer you can’t refuse?

The house of Vito Corleone from the film “The Godfather” is for sale on Staten Island, New York.

Every so often it’s interesting to see what sort of premium you pay for being within walking distance of 14 different coffee shops and a handful of grow ops here in Vancouver.

We’re not sure how many grow ops are within walking distance on Staten Island, but we know there aren’t 14 different coffee shops nearby, so the asking price is ‘only’ $2.9 million.

For that much here on the west coast you’d probably still get the ‘man cave’, gym and maybe even the ‘english pub’, but probably not the saltwater pool.

Any film history fans thinking of moving to the east coast?

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tedeastside
Member
tedeastside

and i think your career opportunities and entertainment options might be a little bit better in New York than in vancouver BC

i even heard New York has a better Baseball team than Vancouver

patriotz
Member

Canada’s immigration policies hurt bottom line, China says

China’s state-controlled energy firms are struggling to turn a profit in Canada in part because of the federal government’s immigration laws, a senior Chinese diplomat says.

Wang Xinping, China’s consul general based in Calgary, said his country’s energy companies want to bring in their own employees to reduce costs. But Ottawa has been stingy in issuing work permits, he said, making it harder for Chinese companies to develop their projects.

The Chinese don’t even bother hiding their contempt for us.

patriotz
Member

on topic, Google Maps says the Godfather house is a 30 min drive from Wall Street or a 11 minute drive to the Staten Island Ferry, which takes 25 minutes to get to downtown Manhatten.

George
Guest
George
Scathing report on how BC Ferry cuts are costing us more in lost tax revenue than any savings from cuts and also putting a black mark on BC’s international image as a tourist destination. From the Vancouver Sun: “service cuts supposed to yield a $725,000 saving actually wound up costing Victoria $870,000 in lost tax revenue… Tourism industry experts warned Stone that the Nimpkish could carry only a fraction of the usual summer traffic and lacked basic necessities for a nearly 10-hour trip, like drinking water, a comfortable lounge and a cafeteria. Stone rode the Nimpkish last summer and gave glowing reviews. The travelling public disagreed – a sign, perhaps, of how out-of-touch the minister is with the marketplace. While Stone enthused over amenities, a survey found that 84 per cent of passengers complained about the lack of comfort and… Read more »
southseacompany
Member
southseacompany

“Canada’s average house price rises 7% to $419,699” CBC News

http://www.cbc.ca/news/business/canada-s-average-house-price-rises-7-to-419-699-1.2835066

“The Canadian Real Estate Association said Monday that the average price of a home sold on the agency’s MLS service was $419,699 last month — an increase of 7.1 per cent compared to the same month in 2013.”

“CREA also noted that not all types of housing are increasing at the same rate. Two-storey single-family homes continue to post the biggest year-over-year price gains, followed closely by townhouse/row units and then bungalows. Condos and apartment units increased by the least amount, but are still up 3.5 per cent compared to their average price in October of last year.”

southseacompany
Member
southseacompany
“Canada’s housing market a ‘3-city show’ as sales score best October since 2009” Globe & Mail http://www.theglobeandmail.com/report-on-business/top-business-stories/a-gentle-cooling-in-canadas-housing-market/article21610189/ “The latest numbers released today by the Canadian Real Estate Association show, again, that Vancouver, Calgary and Toronto are driving the gains, though they do extend beyond those three hot markets. So what comes next? “The Canadian housing market received a second wind following the 45-basis-point decline in interest rates at the start of this year,” said TD’s Ms. Petramala. “However, the impact is expected to fade in the coming months as pent-up demand eases. Interest rate declines of this magnitude have historically boosted sales for up to six months and October was that mark. Furthermore, affordability is likely to deteriorate as home prices are still growing at a faster pace than incomes. We continue to believe a moderation in housing activity is… Read more »
southseacompany
Member
southseacompany

“Calgary house prices grow at nearly double national rate” Calgary Herald

http://www.calgaryherald.com/business/real-estate/Calgary+house+prices+grow+nearly+double+national/10388333/story.html

““Low interest rates continued to support sales in some of Canada’s more active and expensive urban housing markets and factored into the monthly increase for national sales,” said Beth Crosbie, CREA’s president, in a news release.”

southseacompany
Member
southseacompany
say whaaaa?
Guest
say whaaaa?

“The Chinese don’t even bother hiding their contempt for us.”

Why should they? We bend over backwards to accommodate them.

space889
Guest
space889

Hmmm….people here keep complaining loudly about Chinese immigrants not paying Canadian taxes on their world wide income in China, while their wife and kids collect social benefits here.

However, it seems like with this case CRA is saying that if you don’t live in Canada for years and don’t plan on living here then you aren’t a resident for tax purpose! So maybe those wealthy Chinese immigrants aren’t doing anything wrong after all! Despite all the cry of unfairness and corruption and blood stain money, etc, etc on this board.

Anyways, if you think some wealthy Chinese family is cheating taxes, you always have the option to report it, especially with that whistleblower bonus too.

https://ca.news.yahoo.com/edwin-elise-britton-battle-revenue-100000200.html

kabloona
Member
kabloona

#9, correction: Harper bends over…..not me.

😉

@space889
Guest
@space889

we shouldn’t be letting them into the country in the first place.

LS in Arbutus
Guest
LS in Arbutus
@10 space889 Whether you are resident or not is based on facts. In the case you link to the fact is that the whole family (the husband, wife and dependent children) were in China. For the CRA this is the MOST important fact and thus these people were NOT resident in Canada. When you have a wife and kids living in Canada, while you work abroad, you have significant ties to Canada, and you may very well be deemed a resident for tax purposes. Let’s just put it this way, I wouldn’t want to assume I was not a resident of Canada if I were working in China while my family lived in Canada. Bottom line is that it’s a TOTALLY different set of facts and circumstances which matters a great deal. From the article, according to Canada’s tax laws:… Read more »
space889
Guest
space889

@12 – Go ahead and do that and you can probably kiss at least 10% of Lower Mainland GDP goodbye as well. You think European rich immigrants would be any better? Geez…

space889
Guest
space889

@LS in Arbutus – I think some poster also said that they have like 5 of their 9 kids in Canada, have ownership of a house in Canada, came back reguarly for a months at a time, included a letter with every tax return saying they intend to return and want to maintain residency in Canada, filed Cdn tax returns (though paid almost no income tax). Seems pretty clear they want to be residence of Canada for tax and benefit purpose.

VanRant
Member
VanRant

APEC ministers in Beijing have now signed the Beijing Declaration on Fighting Corruption. The declaration reaffirms APEC members’ commitment to denying safe haven to those engage in corruption, including through extradition, mutual legal assistance and return of proceeds of corruption. It also seeks to expedite international cooperation in the prevention, investigation, prosecution and punishment of offences.

LS in Arbutus
Guest
LS in Arbutus

@ Space889

Wanting to be a resident of Canada for tax purposes(or non resident for that matter) and actually being one (or not) is fact driven.

The facts show that these people had more significant ties to China because wife, husband and dependent children are living in China.

All the other stuff is secondary.

And you can see why they wanted residency, it’s because the benefits outweighed the costs (taxes paid.)

Likely CRA has made the correct determination in this instance and these people should have known better. You just can’t feign ignorance.

It’s NOT recommended, because dealing with CRA, less is more, but in this couple’s circumstance they could have had CRA determine their tax residency with this form:

http://www.cra-arc.gc.ca/E/pbg/tf/nr73/nr73-12e.pdf

Whistler or bust?
Guest
Whistler or bust?

“When you have a wife and kids living in Canada, while you work abroad, you have significant ties to Canada, and you may very well be deemed a resident for tax purposes.”

Tax what income? They might be making millions in China but none of it shows up on any paperwork. Hell they will probably qualify for welfare once they finally come here! (And most would have no shame in taking it)

Zero Down Forty
Guest
Zero Down Forty

Vancouver Tax Info blog. Yawn.

LS in Arbutus
Guest
LS in Arbutus

OK sorry to bore, how about this.

My friend was at a vet office recently to do some small repairs. The vet was worried about spending $100 on fix ups. However the vet is planning on tearing down the building and re-developing into condos/retail space where the new office will be in a few years. This weird city we’re living in where everyone is concentrated on real estate and not their core business. Where budgets are squeezed to the point of breaking because of the high cost of real estate.

I did a quick scan of the corporate contributors to Vision Vancouver. It looks like the majority of them were, you guessed it, developers. What has this city become?!

How can anyone think this continue in perpetuity? It simply cannot.

@space889
Guest
@space889

>Go ahead and do that and you can probably kiss at least 10% of Lower Mainland GDP goodbye as well.

we could also probably kiss at least 50% of the Lower Mainland childhood poverty goodbye as well.

>You think European rich immigrants would be any better? Geez…

what the hell are you talking about? i think everyone can agree that we want people who will come here to live, work and be part of the community.

we don’t want passport seeking trans-national global elites who see citizenship as a plan-b incase they get charged with corruption or a good place to retire to because it has free healthcare.

Slagathor
Guest
Slagathor

….This weird city we’re living in where everyone is concentrated on real estate and not their core business….

This has been a debilitating problem for Vancouver for some time. No business can compete with the apparent value of the RE it occupies.

China 2.0
Guest
China 2.0

All this “fox hunt” anti-corruption BS is just a way to make sure that chinese living in the west are never out of the party’s reach. Since they are not out of the party’s reach they will remain loyal to the party.

We are essentially filling vancouver with well financed foreign agents.

Joe Mainlander
Guest
Joe Mainlander
@#20 Re: “I did a quick scan of the corporate contributors to Vision Vancouver. It looks like the majority of them were, you guessed it, developers. What has this city become?!” Developers have been building homes in Vancouver since 1886. They are nothing new. That’s how homes get built. Thing is, developers don’t make a lot more money because a housing bubble. Real Estate agents certainly do, but developers not so much, as they need to purchase land at the new high cost, too. There are a few developers that bought their land before the bubble, like Marathon and Concord Pacific back in the 80’s or British Pacific Properties a century ago. They would have made a killing, but the rest typically put an option on a piece of land and don’t actually purchase until they get rezoning. If prices… Read more »
Harry Wang
Guest
Harry Wang

Study puts grim numbers on B.C. rental crisis

Almost half of renters spending more than recommended 30 per cent of their income on housing

http://www.vancouversun.com/business/Study+puts+grim+numbers+rental+crisis/10387971/story.html

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