Hi

I know we had a problem last time but the new Meetup Group seems to have met all the conditions……Please, could people join? We have 2 new people there and only 4 of us.

http://www.meetup.com/US-Expats-Toronto/

Thanks,

Trishia/nobledreamer

Many of us who have been part of the community here at Isaac Brock Society,  have been writing our various MPs, the Finance Minister, and other politicians on a regular basis for months now to complain about FATCA.  The Conservative government  ignored our pleas and signed a deal with the devil, selling the soul of Canadian sovereignty along with the rights of a sub-class of Canadians, in return for the removal of  extortionate threats directed at Canadian banks.

Until very recently, few Canadians with ‘US person’ status, living in Canada, had even heard of FATCA, never mind USA’s unique to the world citizenship-based taxation laws.  Those numbers are starting to increase rather dramatically as is evident by the many new visitors to this website.  If all our new ANTI-FATCA friends would also take some time to educate their MPs about FATCA, and ask them to do something to stop it,  they might  start to think twice about ramming FATCA down the throats of 1 million plus voters.

Disconcertingly, it has been apparent from some of the  recent comments we’ve heard from certain MPs regarding the signed IGA, that many are unaware of the grievous harm that FATCA in combination with citizenship-based taxation will do to Canadians with ‘US person’ status.  Since it appears that the Conservative party’s intent is to push FATCA through parliament as stealthily as possible, it is imperative that our MPs actually understand what they are voting for, or hopefully AGAINST!

If you haven’t already, and even if you have, please email or write your MP, and  help him/her to understand the ugly truth about FATCA and citizenship-based taxation.

On something with nothing to do with FATCA but o’h so sweet.

http://www.theglobeandmail.com/news/politics/conservative-party-rethinking-income-splitting-tax-break-after-finance-minister-flaherty-airs-doubts/article16883716/

The problem for Mr. Harper, say MPs and Tory insiders, is the 2011 promise is “overwhelmingly popular” among both Conservative members of Parliament and party rank and file who see it as correcting an “anti-family” bias in the tax system that penalizes single-income families.

At least three cabinet ministers, including Employment Minister Jason Kenney and Treasury Board President Tony Clement, have said they believe the government is obliged to deliver on its campaign promise as written.

Tory MPs opposed to abandoning the pledge say it would be a blow to rank-and-file supporters should the government shelve the idea. “Most MPs will tell you it’s one of the most popular things they’ve ever campaigned on,” one Conservative MP said. “Finance bureaucrats don’t like it? Too bad. We keep our platform commitments and this is both good policy and politics.”

Said a second Tory MP: “This is not dead. Far far from it.”

We need to keep up the pressure and our education efforts on backbench Tory MP’s. Try to split them away from Jim Flaherty and “Finance bureaucrats” over FATCA. Then remember what that “second Tory MP” said.

I often find myself in discussion with some Homelanders and Obama supporters about whether US citizenship-based taxation is a human rights abuse.  Below is my argument, first published August 21, 2012, to say that it is unfair. Now I argue that with the implementation of FATCA, the USA has become a serial human rights abuser.  Clearly, most people of reasonable conscience accept these kinds of arguments.  Even yesterday, I manage to get a chuckle out of an AP reporter who was asking for my story. I mentioned my birth in Chicago, Illinois, and moving as a baby to Alaska. Off the cuff, I said, “Yet Illinois isn’t chasing me around the globe expecting me to pay state income tax.” That’s because once you leave a state, you can no longer benefit from the proceeds of taxation. It is a no brainer. Yet it is not self-evident to Congress and the IRS, which are pursuing US expats across the globe with FATCA regulations in order to make them pay taxes for the benefit of Homelanders.

Continue reading →

Cross-posted from MapleSandbox with permission

Finance Canada–244 Pages Access to Information
Posted on February 10, 2014 by Blaze
A few months ago, I submitted a request to Finance Canada for records relating to FATCA through Access to Information.

After several delays, I finally received 244 pages about 10 days ago. I’m still awaiting several other pages. I was holding off posting these records so I would not jeopardize the remaining records.

With the signing of the IGA, that concern is now irrelevant, so I am uploading the pdf documents here. You will notice some pages have been withheld entirely. Other pages have been partially redacted.

James Jatras has seen these and says the Canadians use nifty blackouts where the American just use black magic marker.

So, what have I learned from these documents?

1. Finance Canada has been far more concerned about the banks than they were about Canadians.

2. Canadians are neater at withholding information than Americans.

I also have a request in to Justice. They sent me some information in print, so I can’t post it here. However, the only information they provided was copies of laws, procedures, etc. Essentially everything to date was completely withheld. I am still awaiting more information, but I expect most will be withheld or redacted.

(Note – had to split into 4 parts)

FATCA Update from Access to Info Request_Part1

FATCA-Update-from-Access-to-Info-Request_Part2

FATCA Update from Access to Info Request_Part3

FATCA Update from Access to Info Request_Part4

Alex Atamanenko comments on FATCA in the Boundary Sentinel, Feb 11, 2014, (found and passed along by bubblebustin): “Alex Atamanenko . . .all Canadian citizens should be entitled to constitutional rights to privacy and fair taxation“.

His description is straight forward and easy to understand of what FATCA is, who in Canada would be tainted as ‘US Person’ and how that will affect them — and their country.

Consider the implications for those Canadians deemed “U.S. Persons” and for the Canadian economy of the following:

– savings and investments of more than $200,000 ($400,000 for couples) must be reported to the IRS
– homes valued at more than $250,000 are considered foreign investment and are liable for U.S. capital gains tax on the appreciated value when sold
– possible double taxation on wills and estates
– higher Canadian tax (financial planners advise clients to divest themselves of Canadian mutual funds and direct their investments to U.S. sources).
– annual reporting requirements are complex and expensive – even when no taxes are owed, legal and accounting fees can amount to thousands
– erosion of the tax base in Canada as investments and retirement security funds shrink

It’s another of the resources I’ll pass along to others.

See http://alexatamanenko.ndp.ca/ for other FATCA information on his “Issues Blog”.

This Could Destroy the Lives of Millions

Another Brocker in the news.