After doing some googling about that whole fiasco, it looks like the former Concrete Equities properties were taken over by Avenue Commercial and the bilked investors are finally getting some of their promised returns - 8 years later.
Registered User
After doing some googling about that whole fiasco, it looks like the former Concrete Equities properties were taken over by Avenue Commercial and the bilked investors are finally getting some of their promised returns - 8 years later.
DOES ANYONE NEED A GO-JUICE?
Beyond Bully
Originally posted by max_boost
Anyway, my initial investment was $10K.
8% bond/5years. So I've paid taxes on that $800/year T5 but without actually seeing any money in my pocket.
Originally posted by KappaSigma
Wtf. Why are you paying tax or getting a t5. Just like a bonus, dividends or interest you should only be getting a t slip when actual cash is paid and received....not accrued.
Originally posted by roopi
This is what I was assuming too. Seems really odd to pay tax on money you are receiving. I don't understand why they would be even issuing you a T5. So weird...
Originally posted by Kari_310
Per the CRA, "You have to prepare T5 slips each year for all investment contracts acquired after 1989. You have to prepare these slips annually even if you did not pay the interest. "
I've also called the CRA asking about this as well, you have to included the accrued interest in the year it was earned regardless if it was paid to you or not.
So 5 year bond, 2009, 2010, 2011, 2012, 2013Originally posted by roopi
So say hypothetically you are never paid anything and the company disappears you have to still claim those past T5's as income?
The last one should have been 2013.
I just got another T5 in the mail for 2014!
WTF is going on?! haha
$800 investment income but I haven't seen a dime!
Time to e-mail them!
I am user #49Originally posted by rage2
Shit, there's only 49 users here, I doubt we'll even break 100
Beyond Bully
Holy WTF so if they never pay out I will be making declaring this T5 in perpetuity.
I am user #49Originally posted by rage2
Shit, there's only 49 users here, I doubt we'll even break 100
Registered User
.
Last edited by 01RedDX; 10-02-2020 at 09:40 PM.
Registered User
Maybe try talking to Global or another station that has a troubleshooter group. They would probably like a good local story like this and the company will hate the bad PR.
Beyond Bully
LOL No need to lawyer up. I rather just not have to declare the 8% and just cross my fingers one day they pay out. haha
I am user #49Originally posted by rage2
Shit, there's only 49 users here, I doubt we'll even break 100
Registered User
Who told who that this?Originally posted by max_boost
Holy WTF so if they never pay out I will be making declaring this T5 in perpetuity.
Beyond Bully
Originally posted by roopi
Who told who that this?I'm just assuming? They keep the company going but don't pay out the bond (for whatever reason, recession, depression etc) I keep declaring for how many years? 5? 10? etc hahaYou will continue to earn interest on the bond until such time as it has been paid out.
Canada Revenue Agency rules state that a T5 must be issued to show accrued interest in each year it has occurred (even though it has not yet been paid to you).
[/B]
This is year 6 now.
I am user #49Originally posted by rage2
Shit, there's only 49 users here, I doubt we'll even break 100
Registered User
I guess that makes sense. Never really thought of it in that way.
Well at least you're making $800 a year.
Beyond Bully
.
I am user #49Originally posted by rage2
Shit, there's only 49 users here, I doubt we'll even break 100
Registered User
Lol, scam is a scam is a scam by a scammer who is now a Z list celebrity?
Registered User
...
Last edited by Sugarphreak; 08-14-2019 at 12:54 PM.
Registered User
Send me in Max, i'll get your money.
Boosted life tip #329
Girlfriends cost money
Turbos cost money
Both make whining noises
Make the smart choice.
Originally posted by Mibz
Always a fucking awful experience seeing spikers. Extra awful when he laps me.
Registered User
Couldn't agree more. They own land, you can get title to land or put a lien on it along with any vehicles or equipment they have. Lien on land = can't sell a house.Originally posted by Sugarphreak
Fucking Sue the shit out of them Max.... unless you agreed to "reinvest" your money, this is a massive breech of contract. Tell them to get fucked and take them for whatever assets they have left.
Don't wait for the class action suit either, by then there will be nothing left. Lawyer up, sue for you money back and returns due, along with court costs, get a judgement in your favor, and then if they can't pay get the sheriff to help start seizing stuff like trucks, land or cars and auctioning them off.
Even if they have nothing, at the very least you can can get the computer they wrote that sleazy mass update with, and then write it off as a loss instead of imaginary profits every year.
What a fucking scam
This is why you don't invest with NE brown guys promising you millions in profits....fak.
Beyond Bully
hope for the best. The project is there and appears to be moving forward???
I am user #49Originally posted by rage2
Shit, there's only 49 users here, I doubt we'll even break 100
Registered User
yeah but for how long?Originally posted by max_boost
Go in and get your $ now when there is something left.
Registered User
Was just by there this past weekend as I'm thinking of building again. I've ruled out wildflower because I just don't like the area myself, plus their prices are pretty high over there, I'm not sure why.
However, people are building in there like crazy, I'm not sure how much or what part of it you're invested into, but it is moving forward in there more now than the last time I posted.
Registered User
...
Last edited by Sugarphreak; 08-14-2019 at 12:54 PM.
Registered User
The last 3-4 years have been booming in the Calgary Area. If they can't make money in that, I wouldn't be too hopeful. Yet I am sure the guys you gave your money to are still driving $100K+ cars around...someone made 137% ROI, just not the investors... lol
Banned
The tone of that update reeks of insolvency. If they aren't showing their books, something is wrong.
Posting Permissions
Quote
