OCTOBER 29, 2017 CANADIAN FATCA IGA LITIGATION UPDATE:
Our trial on Canada’s FATCA IGA legislation in Federal Court will now be delayed further because Mr. Justin Trudeau’s lawyers are having problems obtaining their expert witnesses (our side’s experts have already filed affidavits).
The problem is that Government’s contracting/procurement process is not functioning as it should, and Government is having difficulty establishing the necessary retainer contracts for each of the experts they wish to use.
The hoped for time frame for the experts contracts is now end of November; however, Government experts want at least 12 weeks to prepare their affidavits.
I can’t give you a firm date yet on the trial, but speculate that trial might take place sometime early summer 2018.
— Each year more and more Canadian citizens are rounded up and turned over to a foreign country…
US expats given hope of lower tax bills
Republicans edge towards eliminating need to pay levies overseas and at home
published in the Financial Times
by Demetri Sevastopulo and Barney Jopson in Washington
You can read the article by answering a simple question that appears when the page loads. I cannot post the entire article due to copyright restrictions.
Here are some excerpts:
Millions of US citizens working overseas could see their tax bills lowered by an overhaul of the tax system as Republicans edge towards eliminating a requirement for American expatriates to pay taxes both overseas and in the US.
Kevin Brady, the Republican head of the House ways and means committee, which is drafting a tax reform bill, said lawmakers were considering the measure, which has been the focus of lobbying by Republicans Overseas, a group of party donors around the world.
“It is under consideration. They have made the case,” Mr Brady said in response to a question from the Financial Times at a Christian Science Monitor breakfast. “Lawmakers representing that area of the tax code have made that case.”
The US Chamber of Commerce, a business lobby group, has urged policymakers to consider US-only taxation for individuals, too, arguing that taxing foreign income hurts American managers at the overseas affiliates of US exporters.
Mark Mazur, who was the top tax official in Barack Obama’s Treasury department, said he supported the change, arguing that it was necessary to address the “inequity” of an expat paying tax on the same income to both the US and a foreign government.
“If you take two people, one works in London, one in New York, working for the exact same US multinational — if they make the exact same amount of money you might think they should be taxed exactly the same,” said Mr Mazur, who heads the Tax Policy Center.
Solomon Yue and Michael DeSombre are also mentioned in the article.
There are quite a few comments with JC doing Yeoman’s Duty.
OCTOBER 24, 2017 FATCA IGA legislation/FATCA litigation update.
Canadian (Alliance for the Defense of Canadian Sovereignty [ADCS] is the “client”) FATCA IGA legislation lawsuit:
We are suing (since 2014) the Government of Canada (specifically Justin Trudeau’s Attorney General and Revenue Minister), in Federal Court for rounding up Canadians having a U.S. taint and turning them over to a foreign government. We argue that this violates Canada’s sovereignty as an independent nation and its Charter of Rights that is meant to protect all Canadians.
As to next steps, it now appears likely that most, if not all, of our brave lay witnesses, who provided written affidavits demonstrating harm, will NOT be examined by the Government lawyers. This is good news as it means that we will get to trial “sooner”. We do expect, however, that our expert witnesses will be cross-examined by Government next.
Thanks to Helen who has written this post on Re-instating US Citizenship after Renunciation. It’s a topic that doesn’t have a lot of coverage, and your knowledge and thoughts will be appreciated.
I was granted my CLN in Sept 2014, the last day before the price increase from $495 to $2350.
I need to try to re-instate my US citizenship due to schooling needs of my son, as I am not finding adequate provision for his special needs in my resident country overseas and would like to return to the US for him. He is a US citizen.
The CLN is a 2 sided document. On page 2, the back side covers Appeal Continue reading
We’re currently expecting 10 people — hope you can come, too! Please rsvp by posting a comment here or e-mail me at pacifica at isaacbrocksociety dot ca
Coming from Montréal? A Montréal Brocker would appreciate a ride. I can put you in touch by e-mail
[OCTOBER 24, 2017 POSTMORTEM: MANY THANKS TO THE SIGNERS! --- RO says: "We now have 3027 petitions ...plus 535 letters... Fewer than we wanted, but still respectable." ]
I nominate ,,, for a IBS feature.
The ACA RBT plan got a feature so this should as well. Karen wrote the into there. I don’t think much intro is needed. Just post as a feature and to highlight for comment.
Democrats Abroad survey report now out.
["American Citizens Abroad (ACA)with 40 years of advocacy on this issue, has led the charge for RBT, proposing a roadmap or outline to Congress showing them how they can get from where the US tax regime is today to where it should be with RBT".] — From a Forbes article
My reading of the ACA proposal is that it is a “Roadmap to IRS compliance”.
— This post is another opportunity to tell American Citizens Abroad (ACA) what should go into their residence-based taxation proposal. Should you be interested, I am asking for your comments in the form of text that could be included in the ACA proposal.
The discussion with ACA is, in part, whether, to obtain a “departure certificate” (get out of jail card) it makes any sense for a person living permanently outside the U.S., who has:
—no meaningful relationship with the U.S. other than by birth or parentage,
—another citizenship from his/her local country,
—and who does not want to be a U.S. person;
should suffer ANY IRS compliance cost and uncertainty (see the correspondence below).
— First, I suggest that you read the ACA RBT proposal.
— Then read my question followed by a response from Mr. Charles Bruce, on behalf of ACA.
Questions include whether non-meaningful/”accidentals” should be mentioned, or not, in the ACA document as a distinct group. Should persons with no meaningful relationship to U.S. be treated differently than consenting, “real” Americans? Is it reasonable or not that anyone should require a departure certificate? The ACA Roadmap requires all affected to enter into some IRS compliance (and potential harm): Can this be morally justified?
I asked ACA the following question:
THURSDAY OCTOBER 12, 2017
3:00 – 5:00 pm P.S.T.
Crown Isle Resort & Golf Community/Copper Room
399 Clubhouse Drive
Courtenay B.C. V9N 9G3
The life of a dual-filer doesn’t have to be complicated.
Join our seminar and learn about the many strategies that can help you maximize your after-tax income and remain compliant.
You may be a dual filer if you are a long-term dual citizen of the United States and Canada; are Canadian born with an American parent; are an American Green Card Holder or live in Canada with American citizenship.
In this seminar, specialist John Richardson will cover topics such as:
- Investment restrictions to be aware of
- Forms you need to file
- Managing estate planning issues
- Whether to keep your U.S. citizenship
- Exit Tax (and its misconceptions)
- Coming into compliance
Your Host Lara D. Austin BA FMA CIM
Investment & Wealth Advisor
RBC Dominion Securities