Bronfmans donate amidst tax scandal
By Jon Bricker, Varsity Staff
A soon-to-be-announced donation to U of T (Toronto) is being overshadowed by a messy tax scandal which saw $2.2 billion in family trust funds connected to the donor leave Canada untaxed.
Seagram co-chair Charles Bronfman and wife Andrea will take centre stage on Wednesday when their gift of $2 million to the university becomes official. But just last week, members of the Bronfman family who control distilling giant Seagram were also the central figures in a federal court room in Toronto.
Spectators in the court room heard the lawyers representing an average Canadian taxpayer tell a tale about a 1991 advance tax ruling which allowed family trusts totaling $2.2 billion belonging to the Seagram branch of the Bronfman family move to the United States tax-free.
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It is estimated that the federal coffers lost approximately $750 million in revenue as a result of the contested ruling.
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http://varsity.utoronto.ca:16080/archives/118/dec01/news/bronfman.htmlAlso, it seems that she must have died within hours of the electoral victory of the Conservatives. Just a coincidence, I suppose.