Jacques Villeneuve's Tax Avoidance

[macdaddy]

"...when he lived in Quebec in 2010, he declared just $6,431 in personal income — and claimed a tax credit for low-income families. The next two years, he declared $3,224 and $5,782 in income."

"Such tax tactics are not inherently illegal but they do deprive government coffers of huge amounts of revenue every year that could otherwise pay for schools, health care and social services... in 2012, Villeneuve made controversial comments about Quebec students protesting against tuition hikes, saying their demands weren't fiscally realistic. "Where does the government get the money? From taxes, from selling stuff.'"

It's no secret that the rich find ways to avoid taxes. And that JV is certainly not the only athlete to do so. But it really disheartens me, as Jacques is (was?) my favourite F1 pilot of all time.

His comments about young students struggling to better themselves really leaves a sour taste in my mouth.


https://www.cbc.ca/news/jacques-vill...unts-1.6226467

[Greem]

Interesting choice of words for the thread subject. At no point in the original article was there any suggestion of evasion (illegal) but several of avoidance (legal).

[crmalcolm]

Originally Posted by Greem

Interesting choice of words for the thread subject. At no point in the original article was there any suggestion of evasion (illegal) but several of avoidance (legal).

Agreed, key words I read are:

• major problems with how the law is written
• Such tax tactics are not inherently illegal

Is it something that should be looked at? Maybe.
But should we focus on throwing criticism of the individuals operating within a tax system for their own benefit, or on those who create the system that allows it to happen legally?

[Anyopenroad]

Arranging financial affairs to minimise tax may sometimes leave a sour taste but anyone with an ISA or personal pension is doing the same, if on a different scale.

Subseqently claiming a credit intended for low-income families does seem like a step too far though, to put it mildly. Even more so if someone then chooses to shoot their mouth off about other people’s behaviour.

[Adam43]

I suspect he still has a point about the students. This is a Motorsport forum, so it makes sense JV is the topic, but let’s hope the rest of the world doesn’t use this as an excuse to not consider the points being made there (I don’t know the topic).

But often things are conveniently ignored by turning them into something else.

Are people wondering what to do about the other highlighted topic, or can they simply do nothing and moan about one person?

[Teretonga]

Originally Posted by Anyopenroad

Arranging financial affairs to minimise tax may sometimes leave a sour taste but anyone with an ISA or personal pension is doing the same, if on a different scale.

Subseqently claiming a credit intended for low-income families does seem like a step too far though, to put it mildly. Even more so if someone then chooses to shoot their mouth off about other people’s behaviour.

I could agree but also considered this.
What if JV went after the low income rebate to highlight an issue that he felt was inconsistent and needed attention, in much the same way that Alonso used the run off to legally go wide at Sochi and pass people while off the race track?

When people grizzle about what someone did is it to highlight a real problem?
Or:Condemn someone (even if they aren't aware of what's going on in the persons head).
Or: Simply calling out something about a person they really don't like?

The last is basically public shaming and that, in its intent, is really hate speech, and something we should all take exception too.

[Aysedasi]

Originally Posted by Teretonga

I could agree but also considered this.
What if JV went after the low income rebate to highlight an issue that he felt was inconsistent and needed attention?

I could buy that if he gave the money back afterwards - did he?

[chillibowl]

the big assumption is that JV had any real knowledge of what he was doing other then signing whatever his 'tax person' told him to sign. not trying to defend JV and as someone who studied in Quebec, i didnt appreciate his comments about the student protests at all.

although i may be willing to accept that entire BAR exercise was an attempt to funnel/siphon/hide money anyways...or at least collect some sort of insurance cheque for every time JV binned his car!

mind blowing that 20 years later this team is now Mercedes and the most successful team over that same 20 year period!

[Adam43]

Ah, I think I might have misunderstood the student thing. I assumed he was highlighting a problem they had. I guess, from your comment, that might not be the case.

[chillibowl]

in fairness, my opinion is just a response to what i recall reading at the time and how i already felt about him at the time...i dont actually know if he said those things, meant those things, or was taken out of context.

but basically, i am salty on everything he has said and done since winning his title though. from his junior career, Indy, to his first 2 years at Williams i genuinely thought he was on track to be the greatest ever...then it went the complete other way!

there was a time when you couldn't mention his name on this forum without a full dust up ensuing...maybe this is still the case?

Alonso on the other hand was way way up in my books back in the day, then some bad energy and controversy, followed by humbling with bad cars, and now not quite a revival but enough effort being put forward that i love him again.

never got that arc with JV so maybe thats why im still salty?

should i start a thread about my JV feelings avoidance!

[Aysedasi]

I would advocate against starting any JV thread.....

[Skam85]

Originally Posted by Teretonga

inconsistent and needed attention, .

We talking about Canada's tax laws or JV's 2003 season?

[chillibowl]

Originally Posted by Skam85

We talking about Canada's tax laws or JV's 2003 season?

[2 litre Touring Car Star]

2003 would be more down to the FIA trying to artificially create some variable results. Drivers/teams trying out tactics without knowing what is the best bet. Therefore the bottom line that season doesn't really an accurate story.

[Adam43]

Originally Posted by Skam85

We talking about Canada's tax laws or JV's 2003 season?

[crmalcolm]

Originally Posted by 2 litre Touring Car Star

2003 would be more down to the FIA trying to artificially create some variable results. Drivers/teams trying out tactics without knowing what is the best bet. Therefore the bottom line that season doesn't really an accurate story.

[Aysedasi]

Originally Posted by crmalcolm

Yep.

[FIRE]

All this trouble didn't hinder him winning last weekend.

[Anyopenroad]

How many steps down the motorsport ladder is it from F1 to Euro Nascar?

[Akrapovic]

Originally Posted by Anyopenroad

How many steps down the motorsport ladder is it from F1 to Euro Nascar?

Measuring that drop in "steps" is like trying to measure the distance between the Earth and Moon in metres. It's possible, but you'd use more relevant units.

[FIRE]

Originally Posted by Anyopenroad

How many steps down the motorsport ladder is it from F1 to Euro Nascar?

Does it matter? Apparently he is enjoying it.

[Anyopenroad]

Originally Posted by FIRE

Does it matter? Apparently he is enjoying it.

I’m very happy for him.

[Alan52]

Originally Posted by Anyopenroad

How many steps down the motorsport ladder is it from F1 to Euro Nascar?

Enough that he has to claim a low income tax credit.

[Akrapovic]

Originally Posted by Alan52

Enough that he has to claim a low income tax credit.

This is the issue for me. What he is doing is possibly legal (although the fact it is in court means that is being questioned), however claiming low income support whilst making lots of money, AND the comments on the students...well that's just unpleasant.

[billy bleach]

Originally Posted by Akrapovic

This is the issue for me. What he is doing is possibly legal (although the fact it is in court means that is being questioned), however claiming low income support whilst making lots of money, AND the comments on the students...well that's just unpleasant.

But isn't that Villeneuve in a nutshell?