FATCA and Australia – Part 1 of 2
January 2020: This thread continues at FATCA and Australia – Part 2 of 2.
Let’s Fix the Australia/US Tax Treaty! The Australia/US tax treaty needs urgent revision to prevent double taxation. Get involved at www.FixTheTaxTreaty.org
Posts on The Isaac Brock Society website concerning FATCA and Australia
For articles on other websites, see Media and Blog Articles
For general discussion of FATCA, see FATCA Discussion Thread
For links to some websites and contact info (government, organisations, tax information), see Australia Information Links
25: John Richardson and Karen Alpert Session in Brisbane Australia Oct 25, 2018
August 2018
01: U.S., U.K., Canada, Australia and Netherlands form international tax enforcement group
January 2018
July 2017
March 2017
13: What Lessons Can Be Learned from the Sad Stories of “IRS Compliant” Australians Shaun and Mary?
November 2016
30: “Solving U.S. Citizenship Problems” – Online January 9, 2017 (Australia)
August 2016
25: Let’s Fix the Australia/US Tax Treaty!
May 2016
15: Australia: Dealing with Superannuation
February 2016
19: #Australia funds America’s #FATCA #Ethnic Identification System
September 2012
27: Last Day to make a FATCA submission to the Australian Govt
August 2012
28: Australian Government wants YOU to tell them what to do about FATCA
July 2012
20: Australian Financial Services Council lobbies Washington for FATCA exemption
Get people to ask him re RBT ??
Remember this thread about the Canadian census? Well, we have a similar situation with the Australian census next week. ABS has decided to retain everyone’s name along with the census data. Originally they were going to retain the names forever, but after the outcry from privacy advocates, ABS has reduced that to 4 years. First Dog on the Moon has a good cartoon on this in The Guardian.
In addition to all the normal privacy worries from this overreach by ABS, there’s the issue of having name and address data associated with place of birth and citizenship data for US persons residing in Australia who have so far managed to stay under the FATCA radar.
Today First Dog tweeted “hey twitter – i’m looking for the best ways to civilly disobey the privacy invading census on aug 9 NOT THAT I WILL BE RECOMMENDING THEM” – the only answer I saw that would avoid the fine for not completing a census form was to fly to NZ for the day – not very practical.
Another series of tweets on the issue ended with “Governments have forfeited their right to be given the benefit of the doubt on mass surveillance, however justified they claim it to be”
Where does it say I “must” return or do this??? Is it on the form???
I didn’t actually get one….
Hmmm?
There’s a $180 per day fine for failure to complete the census (once they start chasing you). If you didn’t get an envelope in the mail with your pin, then someone from ABS will hand deliver the form before next Tuesday.
Here’s another blog post with links to several articles on this issue https://www.eigenmagic.com/2016/08/01/the-australian-census-2016-controversy/
Nightline producer Roxanna Sherwood
She is rethinking of Rachael’s partly filmed renunciation piece
http://rachelheller.org/certificate-loss-nationality/
http://isaacbrocksociety.ca/2015/10/19/interview-opportunity-abc-news-nightline-would-like-to-interview-an-american-living-abroad-who-is-in-the-process-of-renouncing-his-or-her-us-citizenship/
If BOTH parties give assurances of RBT then expats can vote on more than one issue
She is aware of the Republicans platform repeal of CBT . May be worth Face booking and Twittering her
https://www.facebook.com/roxanna.sherwood
https://twitter.com/rzsherwood
I’m trying to organise some action in Australia – focusing on things the Australian government can do such as amending the FATCA IGA and fixing the tax treaty. I’ve put together a survey to decide how to get the most participation. I also put together a background email that you can access here.
@ Karen. This is super! It would be great to have organised action in Australia. I think the survey is terrific. Thanks for getting this ball rolling!
@ Karen,
The direct link to the survey in your comment doesn’t work. The link to your main page does, though.
@ Pacifica,
Thanks. The correct survey link should be https://goo.gl/forms/uRdER9dxMFnYUGCC2
No idea how it got messed up in my comment above.
From the latest article by Alexander Marino (Moodys Gartner):
http://www.mondaq.com/unitedstates/x/518610/property+taxes/The+Super+Reason+Australians+Are+Renouncing+Their+US+Citizenship
@Eric
As I commented elsewhere, I don’t understand why a Canadian law firm is leading on this issue. What happened to all the Australian tax professionals. Surely there’s someone downunder with the expertise to be helping US CBT victims with their superannuation-related tax problems.
I’ve received 32 responses to my survey and have set up a closed Facebook group to work on educating the Australian government with the aim of fixing the obsolete Australia/US tax treaty. You can find the group here: https://www.facebook.com/groups/FixTheTaxTreaty/.
@ Karen
You have made my day with this announcement. Congratulations for beginning this effort in Australia. I have always had great sympathy for the way your superannuation funds are treated.
It has always been my hope that our litigation will be an inspiration to other countries, especially the commonwealth countries. You have prepared a great survey and I wish you every success. I will be following this auspicious start. Go Australia!!
Thanks Ginny, I appreciate the support.
Event details of Roy Berg visit to Australia, if anyone’s attending
http://usaustralia.moodysgartner.com/?news
Under the Radar
Alby
I didn’t know condors migrated to Australia. They are giving the Arctic Tern a run for their money as the most migratory of birds.
That particular breed of condor has a keen nose for dollars (AUD USD CAD, doesn’t matter). What I don’t understand is why the Australian magpies haven’t swooped in on this business opportunity. Magpies are very territorial.
Perhaps the Australian magpie has not yet seen US expat as food. http://isaacbrocksociety.ca/2012/03/26/the-nature-of-the-beast-feeding-on-expats/
Well, it looks like the Australian magpies are about to get a lesson from a Canadian condor.
@Karen, Condors are not Canadian. They are the quintessential Homelanders Abroad.
@Petros
Point taken.
@Karen, arguably being a compliance condor, i.e., an enforcer of US tax laws in Canada, would belie one’s oath of citizenship: “I swear (or affirm) that I will be faithful and bear true allegiance to Her Majesty Queen Elizabeth the Second, Queen of Canada, Her Heirs and Successors, and that I will faithfully observe the laws of Canada and fulfil my duties as a Canadian citizen.”
A prominently quoted US Homelander condor exported to Canada only arrived here in 2011 – just in time for the onset of the OVDI/FATCA/FBAR compliance gold rush mining Canadians with the USpersonhood burden.
Maybe the rich vein of fear the IRS sowed through the Canadian media in 2011 is tapped out or is slowing. Perhaps they now think they smell gold in them thar FATCAnized Australian Superannuation hills. Hence the newest expansion of the export of a new rash of those ‘free’ seminars….
By all means, carefully examine any information presented for its potential usefulness, but beware of the gold-digging and consider all options – not only what is endorsed/enforced by the condors (ex. keep in mind Circular 230 http://www.aicpa.org/INTERESTAREAS/TAX/RESOURCES/STANDARDSETHICS/TREASURYDEPARTMENTCIRCULARNO.230/Pages/default.aspx ). The purpose of the seminars is to recruit clients.
All the best for your organizing efforts in Australia!
I have been asked this question from a Superannuation Fund
Do you have details of any actual case where US tax authorities have imposed a tax liability related to investment earnings within an Australian superannuation fund?
Any answers ?