Many of us who have been part of the community here at Isaac Brock Society, have been writing our various MPs, the Finance Minister, and other politicians on a regular basis for months now to complain about FATCA. The Conservative government ignored our pleas and signed a deal with the devil, selling the soul of Canadian sovereignty along with the rights of a sub-class of Canadians, in return for the removal of extortionate threats directed at Canadian banks.
Until very recently, few Canadians with ‘US person’ status, living in Canada, had even heard of FATCA, never mind USA’s unique to the world citizenship-based taxation laws. Those numbers are starting to increase rather dramatically as is evident by the many new visitors to this website. If all our new ANTI-FATCA friends would also take some time to educate their MPs about FATCA, and ask them to do something to stop it, they might start to think twice about ramming FATCA down the throats of 1 million plus voters.
Disconcertingly, it has been apparent from some of the recent comments we’ve heard from certain MPs regarding the signed IGA, that many are unaware of the grievous harm that FATCA in combination with citizenship-based taxation will do to Canadians with ‘US person’ status. Since it appears that the Conservative party’s intent is to push FATCA through parliament as stealthily as possible, it is imperative that our MPs actually understand what they are voting for, or hopefully AGAINST!
If you haven’t already, and even if you have, please email or write your MP, and help him/her to understand the ugly truth about FATCA and citizenship-based taxation.
Dominic LeBlanc says the legislation still needs to be drafted, The proposed legislation IS drafted and has been available on the Ministry of Fiance website since just after the IGA was announced. It has not,however, been introduced in Parliament yet. Here it is.
http://www.fin.gc.ca/drleg-apl/2014/can-us-eu-0214l-eng.asp
@IRSCompliantForever
There were about just shy of 50 people at John Richardson’s event in Montreal. Some but far from all were Francophones. From talking with John afterwards 50 people is still less than what he got in Vancouver and Toronto though.
@IRSCompliantForever
My understanding is at some point a video will be released covering at least some of the event in Montreal. I purposely tried to sit so I would be seen in the video even though the idea was to make sure none of the audience was visible.
There will also be an interview between John and UK/US nationality lawyer Andrew Grossman that will be released sometime.(I had to keep the cleaning lady from making too much noise while the interview between John and Andrew was going on in Montreal),
I believe IBS member Deckard was the one responsible for the filming.
@Tim and All,
To make my point more broadly, if there are any francophones in Quebec who are interested in helping out, please send an email to CanadianCharterChallengeFund@gmail.com
Some good points in this FP article to help educate an MP with – but MUST keep reinforcing that the terms of the IGA as per reporting Canadian Registered accounts etc. does not make them TAX or PENALTY EXEMPT – ONLY about whether the FFIs and NFFIs (and ultimately the CRA) must REPORT them to the IRS/US Treasury – they are STILL REPORTABLE by affected Canadian citizens and permanent resident individuals the US claims are ‘US taxable persons’, and the registered savings accounts are STILL considered ‘taxable foreign trusts’ by the US (with punitive and confiscatory penalty structures):
http://business.financialpost.com/2014/03/26/vern-krishna-u-s-steps-up-tax-enforcement-beyond-its-borders/
‘Vern Krishna: U.S. steps up tax enforcement beyond its borders’
March 26, 2014
“..As of July 1, the United States will tighten the tax noose around the necks of Canadian citizens living in Canada and anyone else whom it considers to be “U.S. persons” for tax purposes. The Canada Revenue Agency will assist the U.S. by kicking away the stool on which they stand. All of this intrusion into our sovereignty is in the name of curtailing so-called “aggressive tax avoidance.”..”…
“…..Governments write the laws to which taxpayers respond and must assume responsibility for their laws if they produce perverse results.”..
Please read this:
http://www.revparl.ca/english/issue.asp?art=1289¶m=189
Fiduciary Duty and Members of Parliament
Lindsay Aagaard 38 CANADIAN PARLIAMENTARY REVIEW/SUMMER 2008 http://www.revparl.ca/31/2/31n2_08e_Aagaard.pdf
and consider in the light of our contacts with the Ministry of Finance, the CRA, the Office of the Privacy Commissioner of Canada, our MPs, and in light of the FATCA IGA and proposed enabling legislation; “……the complex combination of moral and ethical obligations that make up the relationship between constituents and elected politicians. The article I refer you to above, examines the concept of responsibility or “duty” as it is owed by members of the House of Commons to constituents. It outlines the concept of a fiduciary relationship and fiduciary duty..”…. as described by the author (Aagaard, L., Canadian Parliamentary Review, Vol 31 no 2, 2008 ). In my opinion, it may also apply to federal civil servants appointed by our political represenatives – such as the Department of Justice, in a different but related sense since they apply laws and policies.
MPs and the Canadian federal government have a ‘fiduciary duty’ to Canadian society: the citizens and residents on Canadian soil.
FATCA – as a unilaterally imposed, extraterritorial Made-in-the-US law designed solely for US gain is not in any way compatible with that fiduciary duty. FATCA is a form of extraterritorial extortion imposed on Canada ( http://en.wikipedia.org/wiki/Extortion http://yourlaws.ca/criminal-code-canada/346-extortion ) by the US – a foreign state.
Supporting the FATCA IGA and voting in favour of the legislation that would enable it – (and seeks to overturn any Canadian laws that present an obstacle) are not compatible with the higher fiduciary duty of MPs and the federal government to Canada, since it is responding inappropriately to US extortion – by aiding and abetting the extortionist – whether directly, or indirectly by seeking to bind and subordinate all Canadian taxpayers and citizens to a foreign (US domestic) law. FATCA is not a bilateral or mutual treaty. The FATCA IGA does not make it one. Even if the purpose of the FATCA IGA is harm reduction to the Canadian financial industry, or to maintain access to the US financial system, or to further any future global initiatives (ex. OECD Common reporting), etc., it is an inappropriate response and incompatible with the fiduciary duty that should bind our MPs and our federal government.
From the Canadian Parliamentary review: ‘fiduciary duty is’: “……. In its origins, the word “fiduciary” means “trust-like.” “Fiduciary duty” is the duty of loyalty that is owed by the powerful party to the vulnerable party when the two are in a fiduciary relationship. The fiduciary relationship can also be characterized as a vehicle used to impose duties on individuals who hold power over the interests of others. As Leonard Rotman writes, “beneficiaries are vulnerable to the misuse or non use of power, and fiduciaries [ought to] act with honesty, selflessness, integrity, fidelity and in the utmost good faith (uberrima fides) in the interest of the beneficiary”2”
http://www.revparl.ca/english/issue.asp?art=1289¶m=189
How does one protect someone from extortion? Not by ‘negotiating’ ‘better’ less onerous terms of the extortion, but by saying NO, and by bringing to bear all available legal measures against the extortionist.
Please read through this:
http://www.revparl.ca/english/issue.asp?art=1289¶m=189
with the following in your mind;
– the issue of the lack of any substantive public consultation or information provided for public and Parliamentary consideration during the negotiations on the FATCA IGA, after it was signed, and now currently as to the proposed legislation that will enable it. NO cost/benefit analysis has been provided. No report on the scope of the consequences and impact on citizens and taxpayers. We do not even know IF such information has been considered or exists. Little information survived the redactions in the few records obtained by FOI. We cannot even be told whether the Department of Justice has been consulted – even the fact of any consultation or opinon’s existence is described as being privileged information.
– the issue of Conservative MPs in/ability to vote independently of directives from Harper and his caucus on the FATCA IGA implementing legislation
– the issue of whether the MPs and the federal government owe a greater and higher fiduciary duty to ALL those in Canada – citizens and residents – over the vested interests of certain sectors of the economy such as banks, and over the vested interests of a foreign state (the US).
– does the fiduciary duty of MPs and the federal government to citizens, residents, the Canadian Constitution, Charter of rights, Canadian laws, and Canadian values of democracy trump even fears about the economic sanctions the US has stated that it will apply – as a threat, in order to FORCE CANADA and all other countries around the globe to elevate US domestic laws above our own?
– Given the deliberate and amply demonstrated choice exercised by the Harper federal government to; keep or obscure from the view of and consideration by the Canadian public the majority of the process, content and other aspects of the FATCA negotiations, and the FATCA IGA proposed draft legislation (with SINGULAR exceptions made to provide regular updates and sensitive documents to the financial industry); consider this statement; “……the duty to represent constituents, in keeping with whatever model of representation the member chooses, in an honest, selfless and transparent manner. Fiduciary duty, the obligation to act in the interests of the beneficiary, can be seen to underscore any of the models of representation. In other words, what the concept of fiduciary duty could do is to ensure that however a member decides to view their job in the scheme of representational government, there are certain underlying duties in place to ensure that the decision making process (not the decision itself) is beyond reproach. .” http://www.revparl.ca/english/issue.asp?art=1289¶m=189 ‘Fiduciary Duty and Members of Parliament’ Lindsay Aagaard
– has your MP conducted themselves in “an honest, selfless and transparent manner” in their correspondence with you and their public statements regarding FATCA and the FATCA IGA? Have they even answered your correspondence at all? Have they provided only form replies, or replies that dissemble, obfuscate, divert from the matter at hand, or redirect you to obtain recourse from a foreign government (the US) outside of their jurisdiction and outside of the borders of Canada – despite your status as a Canadian resident Canadian citizen or legal Permanent resident, voter, Canadian accountholder, and Canadian taxpayer (overlapping categories which constitute ‘constituents’ to whom Canadian MPs owe a fiduciary duty)?
Has anyone got any response (even an auto reply) from the new Finance Minister, Joe Oliver? I haven’t but then sometimes responses don’t come until months later from MPs — if at all.
@ badger
Great summary of “fiduciary duty”. Our MPs owe us a whole lot more of that than they’ve delivered so far.
@Em, maybe they need to read the Canadian Parliamentary Review.
@badger. You make excellent points about MP’s fiduciary responsibilities. Perhaps they should be sent to Mr. Arvay.