It has been brought to my attention that over recent months there has been a lot of discussion involving the taxation classification of the HYIP arena in Canada. To many, this area would be classed as a type of gambling, and, judging by the overall performance of many of these schemes it would seem wise to call it a gamble in placing money into them.
However the biggest problem of all is that if any one government was to place HYIP into any sort of category, whether it be gambling or investment, it would then be admitting that these schemes actually exist.
It is certainly a very controversial issue indeed and I am sure it has been discussed by many, including government tax officials.... not that they would admit to it... Im sure this will be discussed for a long time to come.
At some stage or other it will have to be recognised just for the sheer amount of money that is moved through the HYIP arena.
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