This is a second response to a constituent from MP John Weston that has been reported to Isaac Brock: The most recent John Weston reply to his Constituent.
The previous John Weston, MP reply to bubblebustin seemed a bit more forthcoming and hopefully took less than the five months and repeated requests before this constituent received a reply.
What new have we learned from Mr. Weston? I have had a quick look at his website to see if, in fact, there was anything I could find on the issue of FATCA and the negotiations on same by the Canadian government. Perhaps someone else can find what I didn’t see. Why does FATCA not rate a place in Mr. Weston’s Government News?
In this most recent reply, his constituent learned that Mr. Weston agrees with Minister Flaherty that we Canadians of dual nationality are “honest, hard-working and law-abiding people” and the proposed IRS penalties for failing to file IRS paperwork seem out of step with justice and fairness. I do not see anything that leads me to believe that Mr. Weston can understand and convey to his constituents, let alone ALL Canadians who will bear the cost, anything about what FATCA is and what it means for loss of our rights as guaranteed in the Canadian Charter of Rights and Freedoms.
I looked in Tax Savings for You and Your Family link and found there was no full disclosure, a warning to US Persons in Canada, when saying that a TFSA can help ALL Canadians work toward their short- and long-term financial goals. :
TAX-FREE SAVINGS ACCOUNT (TFSA)
Canadians have many reasons to save for the future; from home renovations to retirement, or even medical expenses. The Tax-Free Savings Account (TFSA) can help all Canadians work towards their short- and long-term financial goals.
Our Conservative Government’s TFSA is a flexible registered savings account, available to all Canadians 18 years of age and older. Investment income, including capital gains, earned within the account is not taxed; and withdrawals are tax-free. Our Government recently announced an increase in the TFSA’s contribution room by $500, helping account holders save even more.
Starting in 2013, Canadians will be able to contribute up to $5,500 each year. As always, unused room is carried forward to the next year. For example: If Albert opened a TFSA in January of 2012 and contributed $2,000 that year, he would have room to deposit $8,500 in 2013 (i.e. the leftover $3,000 from 2012 + the new full amount of $5,500 for 2013). It’s important to remember that withdrawn money can only be re-contributed in future years. It cannot be re-contributed in the same year without penalty (e.g. if Alice has used all her contribution room and withdraws $1,000 in April 2012, she cannot re-contribute that money until January 2013).
… but you can click on the appropriate box to receive all of the news that Mr. Weston deems important enough for his newsletter.