# Pension, Tax, etc. legislation in Canada (rant)



## Saniokca (Sep 5, 2009)

Hello all,

Just wanted to rant about how useless the legislation in Canada is. I am studying to become a pension actuary and right now have to read countless books about pension legislation and taxation. I need to read hundreds of pages about rules of RRSP room that most of us don't even use.

I can say only one thing: we are too socialistic. "This is unfair, so let's create 100 pages of legislation so that someone doesn't lose $600 of RRSP room".

All these tax breaks that are used to buy votes only create inefficiencies and more work for accountants, actuaries, etc. and make Canada a lot less competitive with the rest of the world.

Done for today. Thanks for reading...


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## slacker (Mar 8, 2010)

We need a tax credit for people studying to becoming pension actuaries. *ducks*


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## brocko (Apr 20, 2009)

ACtuary joke..............an actuary is just an accountant without the sense of humour!.........seriously I am glad your not studying to become a doctor and would have to read thousands of medical book pages etc.


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## sags (May 15, 2010)

Your point is well taken.

The tax legislation has become so complicated that tax court judges have remarked that the CRA gives differing interpretations of the same rules, and the average citizen couldn't possibly be expected to understand it.

The more complicated it is, the more it is used to avoid taxes by those who can afford the right advice.

A flat tax would probably generate more revenue for Canada.


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## ddkay (Nov 20, 2010)

If taxes and contributions are deducted at the source, the state should figure out exactly how much everyone owes, citizens check for errors, confirm, and receive rebate/credit. Cheap, simple, fast, less accountants used, less headaches. Finland does it, why can't we?


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## Four Pillars (Apr 5, 2009)

And how about different locked-in rrsp/rrif/lif rules for every province? Yeah, that makes sense.


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## bgc_fan (Apr 5, 2009)

On the flip side of things. If things were that much easier, you wouldn't have a job as there would be less need for actuaries, or accountants.


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## Saniokca (Sep 5, 2009)

bgc_fan said:


> On the flip side of things. If things were that much easier, you wouldn't have a job as there would be less need for actuaries, or accountants.


Lol, less need for actuaries/accountants doesn't necessarily mean that I would be out of a job. In that case my work will be much more appreciated and a lot less of my time will be wasted (or I might have chosen another industry). There will be need for quality work, clients would be a lot more appreciative and ready to pay the high fees.

I completely agree with sags. That stuff does not benefit the average Canadian.


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## doc987 (Nov 23, 2011)

OP:
you are asking all the right questions as a student. One day when you've spent time out in the real world working you will be asking a different set of questions. It's a part of the learning process.


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## bgc_fan (Apr 5, 2009)

Saniokca said:


> Lol, less need for actuaries/accountants doesn't necessarily mean that I would be out of a job. In that case my work will be much more appreciated and a lot less of my time will be wasted (or I might have chosen another industry). There will be need for quality work, clients would be a lot more appreciative and ready to pay the high fees.
> 
> I completely agree with sags. That stuff does not benefit the average Canadian.


Well, maybe not you personally, but I was just thinking from a simplistic POV if the job was less complicated, and required 25% less work, then one may expect a reduction of positions by a similar amount.


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## Saniokca (Sep 5, 2009)

doc987 said:


> OP:
> you are asking all the right questions as a student. One day when you've spent time out in the real world working you will be asking a different set of questions. It's a part of the learning process.


People who have decades of experience are asking the same questions. Is this enough time in the real world in your opinion?

May I ask what you do for a living?


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