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xrkyle last won the day on November 11 2018

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  1. Here is the way: Diamond hands on <insert_meme_stonk>for the sweet tendies -> Start civil rotary aviation business in Canada -> Lose everything because civil rotary aviation business in Canada -> Diamond hands on <insert_meme_stonk> for the sweet tendies > Start civil rotary aviation business in Canada...
  2. I'll have to check this out. I really like John Lawrence Reynolds' books on finance. The Naked Investor is a book I cite and revisit often.
  3. Very close but not quite. Okanagan Air Services, which eventually became the CHC of today, was the first operator in Canada. Their first commercial flight was in 1947. VIH was founded in 1955 and Alf Stringer, who was one of the original three founders of Okanagan, eventually went on to run VIH for many years. The history of rotary aviation in Canada is well documented by Peter Corley-Smith (who used to work for VIH).
  4. Here is a list of (mostly) west coast schools I compiled almost 15 years ago now.
  5. The $51 amount is the upper limit for tax filers using the simplified method which is what your accountant is likely claiming on your behalf. You could use the detailed method and likely claim up to the treasury board limit without much scrutiny but it is probably not cost effective to have your accountant parse through your receipts at their hourly rate to do that for you. It may not even be possible depending on how diligent you are at tracking expenses and retaining receipts and invoices to support them.
  6. How do you plan to deduct a non-business expense like flight training from your income? The Income Tax Act doesn't allow it. Like I said above, I think you're confusing tax credits with tax deductions. Federally, the differences can be huge (like 2x different depending on your marginal tax rate)
  7. Are you operating or planning to operate a business where your flight training would be considered an eligible expense? If not, you're likely confusing tax credits with tax deductions - there is a big difference.
  8. My dog has his SPH5 size medium up for sale.
  9. There has been some discussion on how things are done with BC Hydro today. Here is a good article on changes they implemented shortly after the fatal crash in Cranbrook that took out a kid walking below almost 10 years ago now. http://www.tdworld.com/features/bc-hydro-overhauls-helicopter-operations
  10. Looking at the financials it's clear why they are cutting costs. They just suspended the dividend which is a huge deal for a company like this and judging by insider activity, it's going to get worse before it gets better.
  11. Semantics are very important when it comes accounting and taxes particularly when the confusion leads to drastic differences as it does in this case. At the federal level (I'm ignoring the provinces for the sake of simplicity), the most a non-refundable tax credit will provide is 15% (lowest federal rate) plus the pittance CRA allows for text books and full-time/part time study time which for most flight training programs is insignificant because the timelines are so short. On the other hand, a deduction will provide 29% at the top marginal rate. On a 50,000 expense that's 7,500 for the tax cr
  12. You're not understanding that there is a difference between a tax deduction and a tax credit. Unless you went through a business entity of some sort, such as a sole proprietorship or corporation, you didn't deduct your training costs from your income to reduce your taxable income for three years (which is what a tax deduction does, it reduces your taxable income). Instead you used non-refundable tax credits to reduce your taxes owed to 0 for the first two years and used up the remainder of the credits for the third year. There is a big difference. Also, CRA asking for proof of your T11B or
  13. Commercial helicopter training provided by an accredited Canadian FTU is eligible for a non-refundable tax credit for most students, not a tax deduction. There are ways to make it a tax deduction but for the most part, it's only practical for wealthy individuals.
  14. A Hanger Example: Here Joe, pass me your jacket and I will put it on the hanger. A Hangar Example: Joe, if you spell "hangar" as "hanger", one more god#$%^ time, I'm going to take you out back behind the hangar and beat you with a bunch of old rusty hangers. It can be very confusing so here is a handy pocket reference guide
  15. You know you're in a great industry when consistency of wage/salary disbursement is a factor when evaluating different employers
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