FATCA and Canada
Note: For list of Media and Blog Articles (not including those of the Isaac Brock Society) regarding the Canadian IGA FATCA lawsuit (Hillis and Deegan v. Attorney General of Canada), go to this page. (Isaac Brock Society posts and threads on the lawsuit are contained in the FATCA and Canada list below.)
Posts and Threads on the Isaac Brock Society Website
July 2019
June 2019
07: Lawsuits involving FATCA and aspects related to U.S. citizenship-based taxation
May 2019
18: More Recent Anti-U.S. FATCA/CBT Activity in France, Netherlands, and Canada by Government Officials
January 2019
29: Ottawa Brock Lunch – Saturday 9 February (4)
23: THE 2019 JANUARY 28-FEBRUARY 1 ADCS CANADIAN FATCA IGA TRIAL IN FEDERAL COURT HAS ENDED — “A Treaty does NOT make a CHARTER-FREE zone” — You can expect a costly APPEAL of the Federal Court decision (in June?) no matter who wins (742)
11: Supporters of @ADCSovereignty #FATCA lawsuit might be interested in @RunnymedeSoc Law and Freedom Conference – Jan. 12/19
December 2018
17: Read the Submissions to the Canadian Federal Court for the January 28 ADCS Trial
November 2018
October 2018
22: Brock project: How would the absence of the “savings clause” in the Canada US tax treaty change the tax treatment of “US citizens” in Canada? (81)
05: CANADIAN FATCA IGA LAWSUIT UPDATE: October 3, 2018 Plaintiffs’ Memorandum of Argument Has Been Submitted to Canada’s Federal Court
September 2018
27: Video from Toronto Meeting with Solomon Yue August 16, 2018
August 2018
19: Speculate on the percentage (85%? 5%?) of Canadian citizen-residents, deemed by U.S. to be U.S. citizens — who do not have, accept, or want, any meaningful relationship with the U.S.? (93)
18: Former Hamilton school superintendent pleads guilty to forging documents to get his children U.S. citizenship (44)
15: Brock project: Comparing the comments on the French version of the @LizT1 @USTransitionTax article to the comments on the English version
14: More about the @USTransitionTax issue from @LizT1: Finance Minister Morneau responds (sort of)
13: Another article by @LizT1 about the @USTransitionTax – Just when you thought it couldn’t get worse!
10: Reminder – Solomon Yue Visits Toronto
July 2018
27: Two Programs with Solomon Yue in Toronto August 12 & August 16, 2018
01: U.S., U.K., Canada, Australia and Netherlands form international tax enforcement group
May 2018
April 2018
28: Be on the Lookout! Bubblebustin to be on CBC The National- on the #TransitionTax
11: Canadian FATCA IGA Litigation Update: Court has fixed Monday January 28, 2019 as trial
March 2018
30: If you want to be a Shareholder in our Canadian Business then you must Renounce U.S. Citizenship
22: March 22, 2018 Canadian FATCA IGA litigation in Federal Court update: New timetable
02: Canadians’ Confidential Tax Info to be Shared with Police in Other Countries
January 2018
08: January 8, 2018 Canadian FATCA IGA Legislation Litigation Update
December 2017
07: December 7, 2017 Canadian FATCA IGA Legislation Litigation Update
October 2017
24: October 24, 2017 Canadian and United States (RO) FATCA IGA/FATCA Litigation Update
22: Ottawa Brock Lunch – Saturday 18 November
06: Dual Filer Status- How to Live & Invest in Canada as a US dual filer -Courtenay BC Oct 12
01: October 1 2017 Canadian FATCA IGA Legislation Litigation Update
September 2017
12: Canada’s tax on being American! Why not!
August 2017
21: Dewees 3: Lessons about the “Oh My God Moment” and dealing with the problems of U.S. citizenship
15: Dewees 2: Why did he participate in the 2009 #OVDP Horror Show?
July 2017
10: Khadr apology and settlement about violation of Charter rights, Trudeau says
June 2017
18: #FATCA and the Canadian Charter of Rights and Freedoms
02: Seeking a Few Additional Witnesses Willing to File Affidavit for Canadian FATCA IGA Lawsuit
May 2017
22: May 23, 2017- Vancouver -Solving U.S.Citizenship Problems
13: May 13, 2017 Canadian Federal Court FATCA IGA lawsuit update: Motion for Summary Trial now submitted
March 2017
23: Information Session – Solving U.S. Citizenship Problems with John Richardson
February 2017
12: The Beyond the Border Action Plan & the U.S. National Defense Act-A Disaster Waiting to Happen?
11: CDN with @dualcitizenship spends $3000 per year to make retirement planning more difficult
02: FEBRUARY 2 2017 UPDATE ON CANADIAN FATCA IGA LAWSUIT
January 2017
30: Dear PM Trudeau: Renegotiate FATCA IGA Now (reposted from MapleSandbox) (19)
25: Reminder: Solving US Citizenship Problems Toronto Sat. Jan 28
17: Seeking Canadian Witness for Canadian FATCA IGA Lawsuit Who Has Renounced and Paid U.S. “Exit Tax”
December 2016
15: DECEMBER 15, 2016 UPDATE ON CANADIAN FATCA IGA LAWSUIT
November 2016
05: November 2016 Status Report on ADCS-ADSC Canadian FATCA Lawsuit
October 2016
30: Reminder: Solving US Citizenship Problems Toronto Sat Nov 5, 2016
24: Ottawa Brock Lunch – Saturday 12 November
September 2016
30: Credit Union Update: YNCU Grows to $1.5B CAD in Assets
16: Vancouver Sun features our own Trish Moon
August 2016
13: Message from Plaintiff Ginny (Canadian FATCA-IGA Lawsuit)
July 2016
13: Is the State Department Shutting Down Expatriation Appointments in Canada?
11: Allison’s “Tina” Presentation and What do you think this guy means?
06: Ottawa Brock Lunch – Saturday 23 July
01: Canada pushes back against one foreign country’s jus sanguinis claims
01: Is JT Wearing His FATCA Flip Flops For Canada Day?
01: Barack Obama’s Address to the House of Commons, June 29, 2016: an Alternative Look
June 2016
29: What Canadian Witness Volunteers For Our FATCA IGA Lawsuit Tell Me
22: Canadian FATCA IGA Litigation Update: We have a new (third) plaintiff and still seek more Witnesses
20: Reminder: Solving U.S. Citizenship Problems – Toronto, Saturday, June 25, 2016
15: CANADIAN FATCA IGA LITIGATION: We are still seeking additional CANADIAN citizen witnesses
08: WHILE PARLIAMENT SLEEPS: TAX TREATY PRACTICE IN CANADA
08: JUNE 3, 2016 Canadian FATCA IGA Litigation Status Report Submitted to Case Management Judge
May 2016
13: September 30, 2016-Another Blow to Personal Privacy and Freedom of Movement
11: Creepy perverted ex named Sam stalks Americans who moved to Canada for love
04: How will YOU respond to the 2016 Canadian Census?
April 2016
27: FATCA Response From Deputy Finance Critic Phil McColeman of Brantford-Brant
26: Reply from the Finance Minister, the Honourable Bill Morneau…
15: PMJT Enjoys Yoga – Makes Sense That He Enjoys Flip-Flops, Too…
15: Dear Valued Customer, Indicators Found: Your Place of Birth is the United States
Baby Elle’s FATCA Letter (Lynne Swanson’s good work)…
01: What is REALLY in the U.S.-Canada Tax Treaty
March 2016
30: A Paper Detailing FATCA’s Costs to Canada
30: March 30, 2016: Toronto Star Publishes Today a Mr. Justin Trudeau Flip-Flop Article
29: March 29, 2016: Yet Another Article Comparing Pre- vs. Post-election Comments of Mr. Justin Trudeau
17: From Elizabeth Thompson a new post at iPolitics — Round Three : March 17, 2016 (evening edition)
16: John Richardson being interviewed by CBC’s The Exchange tonight
08: AICPA recommends that Treasury implement measures to reduce tax and reporting burdens associated with various cross-border deferred and tax-exempt savings accounts
February 2016
17: New instructions to book Canada appointments to relinquish or renounce US citizenship
11: Listen up, Canadian Liberal Government — *The Truth About FATCA* — Jim Jatras
10: John Richardson on CTV “Power Play” with Don Martin today
04: Getting Canadian Charter of Rights and Freedoms Right
02: NDP Revenue Critic, Pierre-Luc Dusseault, Writes to Minister of Revenue
January 2016
31: Discussion at @Canada2020 on Canada Foreign Policy of interest in @ADCSovereignty #FATCA lawsuit
28: How the government will argue Charter S. 1 against the @ADCSovereignty Charter lawsuit
22: Bravo MP Pierre-Luc Dusseault for keeping the pressure up on FATCA!
19: Tune Into CBC “All in a Day” at 4:45 EST pm today – John Richardson interview (92)
19: Uncle Sam Wants…Who? at UBC Law This Week – Allison Christians, McGill University, Faculty of Law
December 2015
15: Fatca Forum Exactly 3 Years Ago Today! How Far We Have Come!!
14: We need Witnesses for Canadian Charter Trial willing to file affidavits and go public
05: Letter to my bank manager: What do Brockers think?
November 2015
20: Allison Christian Interview – Lessening the hardship inflicted by FATCA
10: The Younger Trudeau tells off Prime Minister Harper in debate: Bravo!
09: Solving U.S. Citizenship Poblems – University of Guelph, Monday, November 16, 2015
09: Our Sociopathic Society V: Government invasion of the castle
06: Our Sociopathic Society IV: King Justin’s first sociopathic act
04: Information Session – Toronto, Sunday, November 8, 2015 – POSTPONED
October 2015
Posts and Threads on the last Canadian election, go to Canada Election 19 Oct 2015 – Resources
30: Elizabeth May: Fixing What Harper Broke: a to-do list for the incoming government
24: Liberal Party Position on U.S. Foreign Account Tax Compliance Act (FATCA)
18: October 19 is Election Day in Canada
15: Louise Arbour, “My children and I are caught in a useless bureaucratic nightmare”
13: Call for Letters to Our New Prime Minister
13: Letter of Nathan Cullen, NDP Critic for Finance, to Ministers of Finance and Revenue
11: Canadian expats out of country more than 5 years can still vote
03: Submit a tip to the Canadian Press on an issue of national interest?
02: Last chance for the NDP to garner our votes…
September 2015
30: Plaintiffs Ginny and Gwen denied injunction: WE NOW BEGIN ROUND TWO OF A LONG FIGHT
30: U.S. IRS and Mexican SAT begin sharing info on bank accounts
24: If we don’t ask (the Conservative government), we don’t get. Today, one Brocker got! (
23: Important: NDP has stepped up to the plate with another letter to the Minister (updated)…
22: Until the government acknowledges it’s seen the light, please continue to make them feel the heat
16: Part I: Justice Martineau provides @ADCSovereignty the only thing worse than a root canal
16: Back to the drawing board…
09: Green Party Platform includes their pledge to repeal FATCA in Canada
August 2015
26: Which will come first: A decision in the FATCA legal challenge or the first exchange of info?
Reminder: Toronto Info Session on Solving US Citizenship Problems-Aug 30, 2015
25: An Interesting Analysis of an Analysis: John Richardson on Roy Berg on the Summary Trial
24: Our Tee-Shirts are Available! Great Work Native Canadian!
18: With such an amazing group, it’s simply NOT possible to NOT succeed! Thanks from @ADCSovereignty
13: Canadian FATCA Trial — *Tweet by Tweet* account of proceedings for the U.S. Library of Congress
10: More US Hypocrisy re Canadian RDSP (cont.) / Comments requested to be received September 15, 2015
05: UPDATES — From @ADCSovereignty #FATCA lawsuit – thoughts on day 1, 2 and post-trial dates(and more)…
July 2015
29: Reminder – Solving US Citizenship Problems – Vancouver
18: “The Shot Heard Round The World” Live from ThatChannel.com
11: Tricia Moon, your comment at the *Jack Townsend blog* is heart-felt and brilliant – THANK YOU!
08: Canadian Federal Election: It’s Time to Throw the People Who Betrayed Us Out of Office
07: Message in a bottle 2: Democracy, the Appointment of Judges and the Canadian Charter of Rights
June 2015
24: Help Me Keep My April 5 Promise Revisited-We Will Never Forget the IGA Betrayal by the CONs
12: It’s official – second class citizenship goes into effect
May 2015
08: Should proof of non-U.S. citizenship be an absolute condition for accepting public office in Canada?
04: U.S. citizenship taxation burdens Canada’s sovereignty by imposing U.S. taxes on Canadian residents
01: Congratulations to ALL Donors to the #FATCA Canada lawsuit – Looking forward to August 4/15
April 2015
22: 2015 Canadian Budget Introduces the “Common Reporting Standard”
16: We Delivered! Monumental Submission to Senate Finance Committee! #Fight CBT (42)
15: Reminder: “2015: Solving U.S. Citizenship Problems: Have You Received a FATCA Letter?” London ON
07: Video Portion of Senate Finance Committee Submission Ready!
06: WANTED – Ginny and Gwenny – Runaway Tax Slaves!
01: Renouncing US citizenship? How the S. 877A “Exit Tax” may apply to your Canadian assets – 14 Parts
March 2015
20: Reminder: “Have You Received a #FATCA Letter?” Hamilton ON March 26
12: Harper government accepts national origin discrimination for US Persons, but not for meat
07: Financial Post hits a new low in FATCA reporting
04: Terminating a Green Card (Abandonment of Lawful Permanent Resident Status)
February 2015
25: Barrie McKenna reports on Canadian Direct Financial’s milestone FATCA announcement
17: ADCS-ADSC LITIGATION UPDATES: Key Actions, Milestones and Timeline Estimates
13: Volunteers required for research project on Canada – USA dual citizens (current and former)
06: Congratulations to @ADCSovereignty lawyer, Joe Arvay, on today’s Supreme Court of Canada Decision
04: Will Canada turn a blind eye to the IGA’s “faux reciprocity”? (39)
January 2015
29: Professor Allison Christians posts “Responses to Questions on Canada’s Adoption of FATCA IGA”
27: Are strata corporations the next target of Canadian banks’ FATCA zeal?
2014
Isaac Brock Society Posts on FATCA and Canada – 2014 – at this link.
Pre-2014 – Lists are in preparation
You can also search for articles using the “Archives” button (on the menu at top of main page) for a list of all articles in reverse chronological order.
http://business.financialpost.com/2014/09/06/next-time-you-gripe-about-canadas-taxman-thank-your-lucky-stars-youre-not-american/
“……among the most notable effects of this onerous and intrusive system is large numbers of people renouncing their U.S. citizenship — a glaring sign that something is wrong with U.S. fiscal policy.”….
http://www.reddit.com/r/tax/comments/2fk6b3/question_about_uscdn_dual_citizen_and_resps/
A Canadian citizen and resident on the brink of applying for US status rethinks due to gradual awareness of tip of US extraterritorial tax nightmare for those in Canada.
From AmChamCanada:
http://www.amchamcanada.ca/policy
“AMCHAM CANADA TAXATION COMMITTEE
AmCham Canada’s taxation is off to a great start for 2014 with a renewed agenda and objectives. A conference call was held on January 7 for the 21 tax professionals from accounting firms, law firms, financial institutions and other professional organizations, who make up the committee membership.
The objectives of the committee are as follows:
Advocacy – determine which cross border Canada/US tax provisions cause undue hardship on companies and individuals involved in cross border trade, investment or residence. Write position papers on how such provisions can be modified to reduce or eliminate the hardships. Arrange meetings with the CRA, Finance Canada, IRS, competent authority and relevant law makers to advocate reducing the hardships.
Develop a forum for communication among cross border tax professionals.
Communicate relevant tax issues to the AmCham Canada members as well as others who are impacted by these issues.
Our initial call was focused on identifying advocacy issues and establishing subcommittees to develop positions papers. The committee established three subcommittees to address the following issues:
The new Net Investment Income Tax (known as the Obamacare tax) may subject many Americans living in Canada to double taxation on their investment income. The subcommittee will review the issue with the goal of drafting a position paper on how relief should be provided to alleviate double taxation.
US tax law subjects US citizens and US residents to complex reporting requirements if they own or receive distributions from Canadian Registered Education Savings Plans or Tax Free Savings Accounts. Since many Americans in Canada as well as Canadians living in the US have these plans, it is a significant burden to comply with all the rules. Huge penalties can apply for failure to properly comply. The subcommittee will review the issue and draft a position paper to seek relief from the US Treasury and IRS, similar to the relief the tax committee was able to obtain for RRSPs and RRIF.
A subcommittee has been formed dealing with US voluntary disclosure for Americans who have not properly filed their US income tax returns and information returns. The taxation committee had previously met with the IRS to discuss relief for Americans in Canada who did not properly file returns. This led to a “streamlined filing compliance procedure ”. Although the new procedure is a huge improvement from the harsh Voluntary Disclosure Program, it still leaves many ambiguities as well as many people who may not qualify. The subcommittee will review current practices and draft a position paper seeking further guidance and relief.
Another subcommittee was formed to address the harsh Canadian withholding requirements on US persons (including companies) doing business in Canada. It is difficult to avoid the withholding even if the amounts are exempt from tax due to a provision of the treaty, resulting in administrative challenges to get the withholding refunded. The subcommittee will review the issues with the goal to draft a position paper to relieve the administrative hurdles.
The committee has established a schedule of conference calls on key cross border tax issues for discussion among tax professionals.
If you want to participate in the activities of AmCham Canada Taxation Committee, please contact Committee Chairman, Jim Yager.”
http://www.thestarphoenix.com/business/Snowbirds+need+consider+medical+implications/10287319/story.html
‘Snowbirds need to consider U.S. tax, medical implications’
Terry McBride, The Starphoenix October 14, 2014
Is putting a kink in the flow of Canadian snowbird money to the US a desirable outcome from the US point of view? What do the states of Florida, Arizona, etc. think about that?
Along with Canadians and others abroad avoiding all investments in the US, the tourism and real estate sector will also see a negative impact from FATCA. Make it too onerous and full of pitfalls, and people will avoid the US.
Flock to the credit unions, the ones that aren’t as nasty about FATCA. When the big, commercial banks lose their customers they won’t be as happy about the IGA.
http://www.canadiansecuritieslaw.com/2014/10/articles/international-developments/us/us-treasury-accepts-canadian-guidance-of-investment-entities-under-fatca/
Put in the face of the american congress why USA beacame independant in the first place :
Ok, let’s get down to a little bit of facts and history to better understand what’s at stake.
First of all, why did the 13 first colonies in america go to revolution against the english empire. Yup, you bet, the main reason was taxes. The main reason the colonies started rebelling against ‘mother England’ was the taxation issue. The colonies debated England’s legal power to tax them and, furthermore, did not wish to be taxed without representation. This was one of the main causes of the Revolutionary War. Now how about that one for greedy little congressmen.
Read on further : http://www.history.com/this-day-in-history/american-colonies-declare-independence
Second of all, the origin of citizen based taxation was the civil war. Yup again. To discourage soldiers from leaving the states they created citizen based taxes, just like the english they fought for independance did. Read on further : http://tax-expatriation.com/2014/04/01/the-u-s-civil-war-is-the-origin-of-u-s-citizenship-based-taxation-on-worldwide-incomes-for-persons-living-outside-the-u-s-does-it-still-make-sense/
So the real question is : Is this taxation rule still relevant in the 21st century ?
Not only is it very descriminating for US citizens like you and me abroad, but FATCA also creates serious damage to the United States and its economy!!!
Over here in France the AXA bank has thrown out all it’s US citizenship customers and I have received a FATCA form from my bank. As I arived in France in 1975 at the age of 9 years old, I’m going to get naturalized French sooner than I thought and give up my american passeport and nationality if I have to. On top of that, my mother is Dutch so heck, I don’t care. Thanks dad for bringing me to this lovely country. But it’s something that american citizens working for a couple of years abroad aiming to go back to the states will probably not do. And that’s where the economic factor comes in.
Most americans that are sent to work abroad are important people. Now, major companies don’t want to hire americans anymore, nore have them participate in their actions. You can easeliy mesure the negative impact on the US economy. read on : http://www.repealfatca.com/index.asp?idmenu=4&idsubmenu=121&title=News
and
http://www.thenewamerican.com/usnews/congress/item/17273-new-u-s-tax-regime-is-devastating-experts-say
The only thing that will stop citizen based taxation is when the congress wakes up and realizes the harm it’s doing to the US economy, wich will come in the near futur.
Hey just noticed this – very very important – I can’t believe we missed it; the CRA discussing how much they are asking ALL CANADIAN taxpayers – citizens and residents to pay in order to do the US FATCA’s bidding:
Note that it is NDP MP Caron whose right on them about it:
http://openparliament.ca/committees/finance/41-2/63/guy-caron-4/
“..Under votes 1b and 5b, the Canada Revenue Agency is seeking funding for the implementation of the intergovernmental agreement between Canada and the U.S. in relation to the Foreign Account Tax Compliance Act, or FATCA. …”
http://openparliament.ca/committees/finance/41-2/63/guy-caron-5/
“…..When the committee was studying the matter, the department wasn’t able to provide us with the costs of the agreement, for either the agency or the financial institutions. Do you now have that information, from the moment when the funding for implementation is released?”
“3:45 p.m.
Assistant Commissioner, Legislative Policy and Regulatory Affairs Branch, Canada Revenue Agency
Rick Stewart says:
“The costs that we are working with for our ability to implement the obligations that we have to administer this agreement is funding of, I believe, $15.7 million or $15.8 million, which has been allocated to the CRA to implement this over these next few years.
Those costs are principally intended to support the costs of implementing a new electronic form for mandatory filing for financial institutions to be able to file their obligations to us, a database in which we would be able to receive and store that information, and the tools to give us the ability to select files from that database for subsequent transmission electronically to the Internal Revenue Service in order to comply with those obligations.”
Read more here:
search by keyword FATCA and sort by date to get most recent results, or sort by relevance ex.
http://openparliament.ca/search/?q=fatca&sort=date+desc
Here is more:
http://openparliament.ca/committees/finance/41-2/63/mike-allen-1/
4 p.m.
Conservative
Mike Allen Tobique—Mactaquac, NB
Thank you very much, Mr. Chair.
Thank you to our witnesses for being here.
I want to follow up with a few questions with respect to the intergovernmental agreement and FATCA.
I think, Mr. Huppé, you talked about $2.4 million to implement the intergovernmental agreement with the U.S.
Then, Mr. Stewart, you talked about $15 million allocated over the next few years to enable the implementation of FATCA.
Just how do the $2.4 million and the $15 million work in the estimates?
4 p.m.
Chief Financial Officer and Assistant Commissioner, Finance and Administration Branch, Canada Revenue Agency
Roch Huppé
In the estimates process, the $2.4 million is what we’re seeking to bring in for 2014-15 expenses related to this. So yes, it’s included in that $15 million.
4 p.m.
Conservative
Mike Allen Tobique—Mactaquac, NB
How many years do you figure it’s going to take to round this out? Will it be five years before you meet all the objectives?
4 p.m.
Assistant Commissioner, Legislative Policy and Regulatory Affairs Branch, Canada Revenue Agency
Rick Stewart
I have the number of years.
Let me clarify. If I said $15 million, I believe I misspoke. If I might be permitted to correct myself, it’s $5.8 million over the period 2014-15 to 2018-19.
4 p.m.
Conservative
Mike Allen Tobique—Mactaquac, NB
Okay.
4 p.m.
Assistant Commissioner, Legislative Policy and Regulatory Affairs Branch, Canada Revenue Agency
Rick Stewart
The bulk of those resource requirements are in 2014-15, because we’re setting up the front-end system to be able to receive and transmit the information. Then there are some smaller amounts on an ongoing basis in those outer years to manage the ongoing vetting and assure ourselves that the information is of good quality.
4 p.m.
Conservative
Mike Allen Tobique—Mactaquac, NB
Okay. Basically it’s $2.4 million in 2014-15 and then another $3 million or so spread out over the next four years.
4 p.m.
Chief Financial Officer and Assistant Commissioner, Finance and Administration Branch, Canada Revenue Agency
Roch Huppé
Absolutely. This is what was officially announced as new funding for the CRA to move on this.
4 p.m.
Conservative
Mike Allen Tobique—Mactaquac, NB
Okay, that’s helpful.
Also, I’d like to ask you, as we start getting into more and more intergovernmental agreements and tax exchange agreements, what the impact on the agency is, as we sign more of these. Presumably there would have to be dollars spent to meet the objectives of these intergovernmental agreements.
Do we have a history of what it generally takes, from the standpoint of the CRA, to meet those objectives and of what investments are made in IT systems to meet the objectives of those agreements?
4:05 p.m.
Deputy Assistant Commissioner, Compliance Programs Branch, Canada Revenue Agency
Ted Gallivan
I think the IT investments are before the committee today. Those are the amounts, and then we use that to better target our audit efforts. Then we reallocate our existing resources, the 6,000 auditors I told you about earlier. So with the treaties, we have 91 treaties enforced today. We have roughly 20 TIEAs, so we have a broad network of international agreements that give us better data that lead to results like in the aggressive tax planning area. Last fiscal year, we assessed $1.7 billion. So there is a clear track record of strong financial results coming from these kinds of investments, which better directs the 6,000 auditors I told you about earlier.
4:05 p.m.
Conservative
Mike Allen Tobique—Mactaquac, NB
Okay. That’s helpful because the tax information exchange agreements and the intergovernmental agreements that we do have and the systems implementations that we do and the upgrades actually help you focus those auditors. In some ways, it probably saves them a lot of time as well. Is that true?
4:05 p.m.
Deputy Assistant Commissioner, Compliance Programs Branch, Canada Revenue Agency
Ted Gallivan
That’s correct. It also saves us from knocking on the doors of taxpayers who are otherwise compliant that we shouldn’t be knocking on.
Just a clarification though, FATCA isn’t going to be in…it’s not necessarily analogous in the sense that….
Gerald Keddy South Shore—St. Margaret’s, NS
“You know, question period is a great opportunity to blatantly spread misinformation.”
@Shovel,
http://openparliament.ca/debates/2014/6/4/gerald-keddy-2/Keddy was hard at work in that respect during the Bill C-31 and Finance hearings re FATCA and afterward;
ex.
“Motions in Amendment
Economic Action Plan 2014 Act, No. 1
Government Orders
8:40 p.m.
Conservative
Gerald Keddy South Shore—St. Margaret’s, NS
“Mr. Speaker, I welcome the question from my colleague who is absolutely correct. He sits with the opposition members on the finance committee. I thought we had a very conclusive and thorough debate on the implications of FATCA to American citizens living in Canada and their tax obligation, which they have always had. However, now it will be legislated through the United States.
We believe FATCA is charter proof and the Privacy Act will not be impinged by FATCA. Also the reality is that any American citizen or dual citizen has always had an obligation to file income tax in the United States.”
More at;
http://openparliament.ca/search/?q=fatca%20Party%3A%20%22Conservative%22&sort=date+desc
This is a better set of links:
http://openparliament.ca/search/?q=fatca&sort=date+desc
Funny that these Conservatives are pretending to help Canadian families, and speak of tax cuts http://openparliament.ca/debates/2014/12/12/scott-armstrong-1/ , while preparing to assist the US in extraterritorially tax Canadians with no economic connection to the US, and robbing Canadian families and Canadian taxpayers to do it http://openparliament.ca/committees/finance/41-2/63/mike-allen-1/.
has anybody seen an estimate of the total amount to be paid by Canada banks?
@ badger Our families do not matter. Maybe they think we do not exist. We have been defined as “US Persons resident in Canada”. We are no longer considered Canadian Citizens by this Conservative Canadian Government. Our letters are not answered, or if they are it is a form letter that does not address any of ther questions asked, they do not care. My hope is that awareness will grow and this will be an election issue.
@heartsick
Cons seems to forget… we got friends & families… who have more friends & family… when elections come up… they forget… we still have the right to vote… they can’t take that from us… I will not vote via party line like I did before… my family were conserative… no longer… I would sooner vote for a monkee before I vote for them.
@ US_Foreign_Person The Cons have lost lots of votes in our family as well. Just waiting for the attack on the Snowbirds, that will hit a wide range of people. This will get back in the media. Our lawsuit will gain media attention as well. Awareness of all of this during an election year will hopefully be the Cons downfall. I am concerned about the Liberals however, not sure they are any better. Article in newspaper today about a possible minority government for this round of elections.
@heartsick
I don’t like the liberals at all & they are not above lying to get our votes… haven’t heard boo from them on this issue… since we are US persons who happen to reside in Canada… we can just be creative with our voting… we shall see…
See latest attempt by FATCA apologists to perfect the unjust and extortionate and very possibly illegal and unconstitutional FATCA IGA:
FATCA in Canada: The Restriction on the
Class of Entities Subject to FATCA
Roy A. Berg and Paul M. Barba*
Canadian Tax Journal 2014, Volume 62, Issue Number 3
pg.587
fulltext available at
http://www.ctf.ca/CTFWEB/EN/Publications/CTJ_Contents/2014CTJ3.aspx
Note that though ALL Canadian taxpayers will be paying for the FATCA IGA forever and ever, the Harper government can’t even give a straight answer about just exactly how many millions they’re asking for in order to put the CRA to work as agents of the IRS and US Treasury on Canadian soil:
See chain of questions and responses here from December 2014 (first if results sorted by most recent date);
http://openparliament.ca/search/?q=fatca&sort=date+desc
Ex.
http://openparliament.ca/committees/finance/41-2/63/guy-caron-5/
add your 2 Cents! http://induecourse.ca/canadas-worst-policy-ideas-of-2014/
Good to review previous statements against FATCA’s privacy intrusion in Canada – especially coming from a Conservative, and former revenue minister Perrin Beatty:
Wonder whether Perrin Beatty – a former federal revenue minister and Conservative is a good person to send a copy of any announcement to, because of his statements re FATCA:
http://blogs.windsorstar.com/opinion/the-stars-view-ottawa-shouldnt-be-in-bed-with-the-irs
“Perrin Beatty, President and CEO of the Canadian Chamber of Commerce, is concerned about privacy issues now that the IRS will have access to bank accounts of Americans living in Canada. ” Feb 7, 2014
and,
http://www.theglobeandmail.com/report-on-business/international-business/us-business/ottawa-to-give-irs-information-on-americans-in-canada/article16710461/
And what does he think now?
Posting a comment for LM, who found this on Expatblog:
It’s on an Ecuador forum, but it’s about Canada:
This may not be new, but it puts those (ex. Canadian citizens and residents) who the US claims as “UStaxablepersons” outside the US on a collision course with financial institutions when trying to open an account – like any other citizen and resident of a non-US country (ex. Canada). And, as it is evidence of discrimination in access to banking services, hopefully adds to the evidence that the FATCA IGA as applied in Canada is contrary to the Charter of Rights, our constitution, and illegal:
‘IRS Answers FATCA Query On Self-Certification’
by Mike Godfrey, Tax-News.com, Washington
04 February 2015
– See more at: http://www.tax-news.com/news/IRS_Answers_FATCA_Query_On_SelfCertification____67176.html#sthash.wjoks8zD.dpuf
http://www.tax-news.com/news/IRS_Answers_FATCA_Query_On_SelfCertification____67176.html
How does that accord with the Bank Act Access to Banking laws?
http://laws-lois.justice.gc.ca/eng/regulations/SOR-2003-184/page-1.html
For the IBS historic records, an important artifact from 2011, and a reminder/proof that despite being neighbours, trading partners and allies, and despite the numbers of Canadian affected by FATCA, the IRS/US Treasury never considered or intended to treat Canada and Canadians any better or differently than any other country – despite the pre-existing extensive tax treaty between the two countries:
“………the U.S. Treasury said an exemption for Canada was not under consideration.
Flaherty said in a speech in New York that he had spoken to U.S. Treasury Secretary Timothy Geithner about the regulation, known as FATCA, or the Foreign Account Tax Compliance Act, which will require overseas banks to report on U.S. clients to the Internal Revenue Service.
Asked at a news conference whether he thought Canada could get an exemption, he said: “We’ve had very useful discussions with the American officials and they understand that the goal of the legislation is to get after tax evaders using tax havens, and that Canada is not a tax haven.”
He added: “I think we’re getting some progress – we’re not there yet. Cautiously optimistic, but we have to get there.”
FATCA will require overseas banks to report U.S. clients with more than $50,000 in assets to the IRS, or withhold 30 percent of the interest, dividend and investment payments due those clients and send the money to the IRS.
Responding to Flaherty’s remarks, U.S. Treasury spokeswoman Sandra Salstrom said in an email to Reuters: “We’re talking with foreign governments to figure out how we can implement FATCA in a cooperative way and leverage our existing relationships, but Treasury is not considering exempting specific countries from FATCA.”………….
http://www.reuters.com/article/2011/10/05/canada-usa-taxes-idUSN1E7941R120111005
‘UPDATE 1-Canada hopes for exemption on US FATCA rules’
from
Wed Oct 5, 2011
Placing this here for the record:
https://secure.globeadvisor.com/servlet/ArticleNews/story/gam/20150113/RBGICARRICKIRS
‘For U.S. expats, home sales could trigger tax bill’
Tuesday, January 13, 2015
“U.S. citizens living in Canada must pay capital gains tax to the IRS after a house sale, leading to hefty bills for long-time homeowners”
ROB CARRICK
Not sure where to put this, but it has important commentary/archival value re the Canadian IGA