Interesting commentary piece in today’s Globe and Mail suggests that Harper and Obama have run out of patience with each other, and we should expect this situation to get worse not better.
The usual suspects of disagreement are trotted out from the stalled Keystone XL pipeline to the recent posturing on Israel that Harper is milking for all that it is worth.
However, the author makes no mention of the FATCA IGA that no one outside the sitting government seems to have any firm details on, nor does it mention the coming panic in Canada when more and more Canadian citizens fall victim to the blatant financial data grab that FATCA really is.
There were about 90 comments. I didn’t note any FATCA related ones but perhaps those Brockers who comment at G&M might have the time to add FATCA to the list of irritating issues between Canada and the US.
Not a very bright reporter if he doesn’t know about FATCA.
Petros, Indeed but given that our govt is massively stingy on information regarding it, I can’t say that I am surprised.
However, it’s huge and there is no excuse for a reporter who claims to cover US/Canadian relations to be ignorant of such a crucial issue that will negatively impact our economy far more than a scuttled Keystone will and it calls into question important sovereignty and tax treaty bypass issues.
It’s no wonder print media is dying.
@Yoga Girl
It’s almost as though there is an effort to keep people ignorant about the 800lb FATCA gorilla in the room, isn’t there?
A tax residency dispute re Conrad Black – the possibilities are resident of Canada or UK. Wondering if he’ll be claimed by the US forever as a ‘US taxable person’ as well for the time spent in US prison, or because of US homes in New York and Florida.
Quite a mess if all three claim him.
It’s not badger quality but I posted a G&M comment. I did manage to get 9 FATCAs into it but I barely kept it under 3000 characters so eyes will glaze over I’m afraid.
The G&M does seem to be avoiding the topic for reasons unknown, so the omission in this article just fits the pattern.
@ FreezingDarkness
Yes they do seem to avoid the topic but 25 times in the last year I’ve tried to introduce FATCA into the comment section, whenever there was the least little opening in the article to do so. After the CBC media blitz you would think the G&M would begin to get it too. Welcome FD, don’t believe I’ve seen your name here before.
Anyone else care to weigh in regarding the AG Tax comment here …
http://www.cbc.ca/ontheisland/2014/01/20/how-an-american-tax-law-could-affect-your-bank-account/
My reply is in moderation.
Why is it that after the recent concentrated spate of attention on the CBC – our national broadcaster, and also an article on CTV, that the Toronto Star and Globe don’t see fit to do follow up stories.
The print media do seem loathe to report anything in writing or really do their jobs in general, which is letting Canadians know about things our govt might be doing that impact us, the economy and our freedom negatively.
CBC is the propaganda arm of the Canadian government so I wonder if its brief FATCA media blitz is connected to a pending announcement by Flaherty that an IGA has been signed. That announcement would be given as low-key as possible when parliament reconvenes. At that time there will be so much static in the air about so many other issues (maybe an omnibus bill or another scandal) that the voice of anti-FATCAnites will be drowned out and dismissed. (The Harper government would hope so anyway.) CBC would then act as though FATCA had been adequately covered and treat it as “old news”, even though something like the Duffy affair can be covered for months on end.
Are we all up to the challenge of having to double, triple, quadruple our efforts to be heard and possibly in the near future? Also, now the Canadian government will be able to say that all those with US personhood issues cannot claim they didn’t know because the CBC coverage brought it to their attention. Sure could use better informed insight by Tim right now. This IGA waiting game is wearing thin.
What a surprise! FATCA got the Rick Mercer treatment on his show tonight on CBC. Very funny. 🙂 The Rick Mercer Report is rebroadcast on Friday evening if anyone missed it.
More sobbering thoughts. Ain’t it just peachy to know that before the IRS can steal our savings our own Canadian banks may do a “bail in” and walk away with it all.
http://xrepublic.tv/node/7121
I would hope that our Canadian credit unions are the equivalent of the Bank of North Dakota. Nevertheless the “bail in” program is all set and ready to go in Canada, just as it is in the USA.
Yes, it is. I recall reading about it around the same time as the issue in Cyprus was playing out. There are merely degrees of suspect govt and officials. Canada is a better country than some but we aren’t living in utopia.
@Em, re; “…I wonder if its brief FATCA media blitz is connected to a pending announcement by Flaherty that an IGA has been signed. …”
I was wondering the same. A lift to see such Canadian media attention (though not in print format), and then felt dread in case they had some reason or source that made the timing significant. And fear that the IRS will claim that sufficient ‘education’ has been done ‘abroad’ via our own news media. Fear that others will learn about all this that way, panic, and dive into the open jaws of the IRS or compliance condors.
Why mostly online coverage, not in print where those not searching for it might see it (though usually in the business pages, where not everyone looks). Why no coverage in Toronto Star given the probability of so many of US origin living?
Thank goodness for IBS and Maple Sandbox. If IBS had not existed, who knows how I would have fared. It has been a true lifeline.
@ badger
That’s right, Toronto Star … strangely quiet. At least I don’t remember being directed to many articles there. Here’s a G&M article from back in July where Brockers and Sandboxers loaded up the comments. Indeed, thank goodness for both sites.
http://www.theglobeandmail.com/news/politics/canadas-information-sharing-deal-with-us-under-fire/article12913617/comments/
The reality is that the Government of Canada has, and always has, many issues to deal with in managing the relationship with the US. Topmost is maintaining an open border for Canadian exports. Close, or restrict, the border, and the economy goes down the tubes. The notable issue at present, of course, is the Keystone Pipeline, which is the subject of a full court press by the Harper government. FATCA matters, but it is way down the list.
@YogaGirl,
re; “….Canada is a better country than some but we aren’t living in utopia.”
Good reminder. A citizen cannot truly ‘stand on guard for thee’ if they can’t see and talk about the warts and all.
@ NorthernShrike
That’s true, certainly – but unless sovereignty trumps that, there’s never any real choice… necessity is the creed of slaves, and the slave always says yes.
@Northernshrike,
re; “…FATCA matters, but it is way down the list….”
How could it hurt for Harper and Flaherty to issue some kind of supportive statement about protecting the interests of Canadian citizen and resident taxpayers?
Harper is willing to swear; ” …Through fire and water, Canada will stand with you… ” to citizens of another country (and I note that irrespective of which), but not make the same depth of public oath of commitment to Canadian citizens and residents who are struggling with the US extraterritorial overreach as individuals and families living and working and paying taxes right here on Canadian soil (and on other urgently pressing issues that other Canadians are grappling with too).
In fact, we’ve not heard a word re FATCA issue uttered directly from Harper’s mouth have we?
And silence now from Flaherty too.
My comment referring to FATCA was posted and now it is gone.
I tried to post too, but it wouldn’t stick.
The problem with FATCA is that it has been cleverly framed as simply a tax evasion/compliance issue that I really don’t think most people – including those in the media – understand the full scope of what it will do and why the “tax cheat” narrative is basically false.
And given that Canadians are by and large not hounded when they live outside the country makes it difficult for them to imagine being leashed by their citizenship in the same way Americans are.
How can you understand or begin to explain something that is so far outside the bounds of your personal experience and understanding?
I have to wonder if even the sitting govt and MPs really can wrap their minds around the concept of American citizenship the way Americans (homelanders) see it.
@ Polly and Badger,
I just saw your comment, so I checked the Spam (sometimes a real comment gets trapped by the spam filter for some unknown reason), but there’s nothing but spam in there. Nothing is showing as being deleted either. Sorry, I don’t know what happened.