THIS POST, WRITTEN BY JOHN RICHARDSON, IS CROSS POSTED FROM OUR ADCS-ADSC BLOG.
THE GIST OF THIS POST IS THAT WE NEED TO KEEP THIS SOCIAL MEDIA CAMPAIGN GOING FULL STEAM UNTIL THE GOVERNMENT ADVISES THAT IT WILL ASK FOR A DELAY IN SENDING YOUR PRIVATE BANK DATA TO U.S. IRS — OR HAS ALREADY SENT THE DATA:
“As previously posted, ADCS has written the Minister of National Revenue and requested that (in light of familiar considerations) the Government of Canada NOT transfer your FATCA data to the IRS by the September 30, 2015 deadline. In addition (as you know) our lawyers have notified the Government lawyers that they are not required to abide by the September 30 deadline.
The significance of September 23, 2015:
September 23, 2015 has NO legal significance.
It is simply the date that (according to the Government lawyers) the CRA had decided to transfer the data to the IRS. Will they or won’t they? Only their “legal counsel” knows for sure (maybe).
That said, the real issue is whether the Government of Canada intends to comply with the September 30 deadline. If they choose to comply with the September 30 deadline, then the information can be sent any time up to and including September 30, 2015.
Furthermore, the Government of Canada has NO legal obligation to notify us (or anybody else) of their decision.
Without a clear statement from the Government of Canada that they have decided to NOT meet the September 30, 2015 deadline your social media campaign must continue.
To put it another way:
If the Government of Canada gives NO indication that it has sent the light, then your job is to continue to make sure that if feels the heat! Use the #StopFATCA hashtag!”