This is exactly the issue. He doesn’t “donate” shit. He opens a non-profit that does nothing but funnel his fortune to his children. It’s all a sham. Same as with that other clothing company who “donated” their entire fortune.
Not sure about elsewhere, but in Canada a Charity is a special kind of non-profit that has more public oversight as to how they manage their money, and allowed to write charitable receipts. Non-profits might do some good things, but you don’t get a tax credit for donating money to them, and there’s less oversight of how they’re managed.
Agreed, and I’m find with the tax deduction if the charity works they do is legit, it’s not like he is paying taxes anyway.
That’s… actually a good point.
Removed by mod
This is exactly the issue. He doesn’t “donate” shit. He opens a non-profit that does nothing but funnel his fortune to his children. It’s all a sham. Same as with that other clothing company who “donated” their entire fortune.
Not sure about elsewhere, but in Canada a Charity is a special kind of non-profit that has more public oversight as to how they manage their money, and allowed to write charitable receipts. Non-profits might do some good things, but you don’t get a tax credit for donating money to them, and there’s less oversight of how they’re managed.