Please click on the link for the press release. This is a separate post in order to make it accessible outside of the long thread.
Please click on the link for the press release. This is a separate post in order to make it accessible outside of the long thread.
Noble Dreamer, I say thank you again. You’re just amazing!
Forgive me if this hasn’t already been done or thought of, but how about sending the press release to Terry Campbell at the Canadian Bankers Association? That paragraph about the banks is appropriate, not only because it’s true, but because if they have any decency (and I think some of their employees, at least, do) this will make them sweat. Let’s spread some of the angst around to where it really belongs! If CBA weren’t pushing for an IGA, I very much doubt Flaherty would have spent any time at all on it.
Has this been sent to the press as well?
As I have said numerous times in the past, another group that should be made aware of that are Canadian immigrants to the US, who have much to loose if their info gets transferred. Many are probably non compliant and have much at risk. I don’t know if there an easy way to reach many of them and spread the word.
@Chris, yes it has been sent to the press or as many email addresses as I had for them. Most press releases these days are done by marketing firms that charge a fee for sending out to huge lists of media contacts. I had 28 contacts in Canada. I sent to all 28, some of those emails did not go through. I’ll just have to see if anyone publishes it. If anyone wants to send on to further media then do so. I am not sure I want it in the U.S. press though.
@Shubert, I have sent a copy to Canadian Bankers Association.
@AtticusinCanada
Advise sending Press Release and invite to these journalists who have covered the story so far:
Don Cayo Vancouver Sun
dcayo@vancouversun.com
Barrie McKenna Globe & Mail
bmckenna@globeandmail.com
Margaret Wente Globe & Mail
mwente@globeandmail.com
Should this be translated in French too or this is not really applicable since this concerns mainly ‘US Persons’
@Chris, I suppose that is something we didn’t think of but, should have. I do not speak French and I am not sure if Lynne does.
@Wondering & Schubert
I am doing the Twitter side:
Barrie McKenna did receive the link via Twitter
Margaret Wente does not have a legit Twitter account (that I know of)
Don Cayo done now
Canadian Bankers Assoc done now
Thanks for these!
@ Tricia
I don’t know how Twitter works but I was very impressed to see all those tweets you put out. How do you find all the Twitter addresses or whatever they are called?
@Chris
Have you tried looking for organisations of Canadians living in the US? I found this website:
http://www.canuckabroad.com/forums/canadians-in-the-usa-vf4.html
Judging from posts, there isn’t much awareness that Canadians living in the US must report Canadian financial assets.
@Em
There’s a little search box just under the address bar area where you can kind of guess and the drop down often will show the option you’re after. If not, I just google the name of the paper, journalist, whatever + Twitter. Usually, if there is an account, it will show up!
I thought you might be on Twitter. If not, how are you seeing these tweets?
@ Tricia
That must have taken you quite some time to put together such a long list. I don’t twitter but I do check this site now and then to pick up interesting links.
https://twitter.com/search?q=%23fatca
@Wondering, I emailed to the three above email addresses. Thanks for those!
@Trish, thanks again. I tweeted CBA too! Yes, that search feature on twitter is a good one.
Have any of you sent anything to Andrea Young of IIAC?
I haven’t, Tim. Perhaps we should.
Love the press release, thank you. Has anyone distributed it to the editors of the many community newspapers in Ontario?
As Oct 16 is quickly approaching, I would strongly urge anyone who is on the fence as to whether or not to participate in the Ottawa protest, to join us! So far, the number of people who have committed to coming is rather small (under 10 I believe). Blaze, Atticus and others have worked hard on the press release and gathering media contacts, so it is important to have a good showing this Wednesday.
Let’s not let this opportunity go to waste! Go Brockers Go!
@WhiteKat, thanks for the boost! If anyone is coming and wants to email me so I can give you my phone number to be more easily reached that morning then please do. I will have my cell with me so you can contact us.
@Bubblebustin, I sent to my local paper. Everyone else feel free to distribute to your local paper. You can do this by sending them a link to the press release or you can download and send as an attachment in an email.
@ Tim
What is IIAC?
http://iiac.ca/about-the-iiac/overview/ Representing Canada’s Investment Professionals
And, all of the member firms: http://iiac.ca/about-the-iiac/iiac-member-firms/
Thanks Calgary
Many of the IIAC members are related to the CBA members. IIAC posted this in hearty pro-active support of an IGA, describing it as a “positive step”; http://www.complinet.com/global/news/news/article.html?ref=152318
” “FATCA Partners” agreement would limit compliance burdens, Canadian trade group says
Feb 14 2012 Emmanuel Olaoye, Compliance Complete
“The compliance burden for Canadian investment dealers would be limited if Canada joined the five European countries that are cooperating with the U.S. government on under the Foreign Account Tax Compliance Act, a Canadian investment industry trade group said. The U.S. government revealed last week that France, Germany, Italy, Spain and the UK signed a deal that would see them share the tax information of U.S. residents who hold bank accounts in their territories. The deal with the five countries — who are known as FATCA partners — has raised questions about whether Canada, a country with millions of U.S. residents, will enter into a similar arrangement with the U.S. government. Ian Russell, president of the Investment Industry Association of Canada (IIAC), said the changes would be a “very positive step” for Canadian firms if Canada signed on as a FATCA partner. “It would resolve the problems of conflicts in privacy laws. We are obliged to provide information to foreign…”
also see IIAC discussed here https://isaacbrocksociety.ca/2012/07/13/disappointing-information-on-canadian-bankers-association-site/comment-page-2/#comment-35867
An interesting side issue is that the IIAC members would benefit from the PRPP invented by Finance Minister Flaherty, as the latest Canadian registered savings – but as a private pension plan to be offered by private employers. A cash cow for the private investment firms and arms of the CBA members – but with the fatal flaws of high administration fees, and subject to US double taxation as another deemed ‘foreign trust’. PRPP poses significant problems for those deemed to be “US taxable persons’ in Canada because there was talk of making participation mandatory and automatic in the workplace. Meaning that without even any actual balance or taxable interest earned, as soon as one was enrolled – (which could be involuntary) it would trigger the 3520 and 3520A reporting as owners of a ‘foreign trust’. The reporting of course would significantly eat into the principle, eroding any gains, and laying the account owner open to the onerous and draconian reporting and penalties that come with the 3520/3520A. That in addition to value lost to the provider’s administration fees.
Thus a PRPP touted as a way to solve the shortfalls in CPP would actually result in an even deeper hole – not only for those who are Canadian only (via plan admin fees) but, for those deemed ‘US taxable’, it would actually lay us open to the US ‘foreign trust’ fundraiser.
The October 21, 2013 issue of The Nation features a cover story titled “Miami, where luxury real estate meets dirty money.” The article explains how Miami (and other major US cities) are dirty money havens for foreigners, and mentions the Miami bankers’ opposition to FATCA reciprocity. This is nothing new to Isaac Brock readers but it’s nice to see it be the cover story of a US magazine.
Not surprisingly there are some inaccuracies such as the statement that those with foreign accounts can repatriate the funds for a small penalty. I don’t consider 27.5% small. Also, if money was legitimately earned in Canada, “repatriating” it would mean sending it from Canada to Canada.
@Anonymous
Rising sea levels threaten to take care of Florida, but given the choice between preserving a coral reef or a condo tower, which will the corrupt choose?
http://www.miamiherald.com/2013/09/28/3655291/combating-rising-seas.html
My thoughts will be with you tomorrow, and wishing you the very best….
You are doing a wonderful thing! Thank you so much.