I was born and raised in Minnesota, one of four children of Canadian parents. Since all my cousins and aunts and uncles lived in Canada, we traveled across the border frequently as I was growing up. I spent my summers at a YWCA camp on an island in the Canadian waters of Lake of the Woods, with my sisters and my Canadian cousins. After finishing an undergraduate degree in biology, I immigrated to Canada in 1969, during the Vietnam war. I did a PhD in developmental neurobiology and Continue reading
FATCA — It will adversely affect Snowbird and other Canadian investment in Florida, Arizona and similar USA winter retreats.
There are many Canadians supporting the Florida economy, as well as that of Arizona and other USA winter retreats !!!
In the United States: Too much of the tax burden falls upon the wealthy
Tax Freedom day in Canada is June 6; in the United States it is April 12. In the United States, 50% of wage earners pay only 3% of the total income taxes. Do you see a problem?
Eroding Financial Privacy: PIPEDA & FATCA
http://michaelpower.ca/2010/11/eroding-financial-privacy-pipeda-fatca/
” As noted in the previous post, we now have a new American law – the Foreign Accounts Tax Compliance Act (“FATCA”) — that essentially requires organizations in Canada to identify clients who are American; obtain their consent to the disclosure of sensitive personal information to the IRS or withhold the provision of a service for a failure to provide that consent. How does that mesh with the obligations of those organizations under Canada’s Personal Information Protection and Electronic Documents Act (“PIPEDA”)?
Double taxation, the tax treaty, and why GST/HST doesn't count
The purpose of the tax treaty between the United States and Canada is laudable: to avoid the double taxation of residents. But the problem is that the United States imposes an unconstitutional extra-territorial taxation of “United States persons” no matter where they live in the world, even in the high tax region of Canada. But one huge problem with the treaty is that it does not count HST/GST as tax. It is of course a big reason why Canadians are marred by taxes (as Gary Marr of the Financial Post says).
Links and reflexions
Petros discusses some links he found over the holidays: MF global scandal, Scotia Bank and FATCA, Mexico and FATCA, Reflexions on NAFTA
Outline for a book project: A proposal
And then there were none: How the United States government is persecuting United States persons living abroad and what we can do about it. Continue reading
This Year's Big Events That Will Tax You…
” I AM CANADIAN. I THINK (Slide 8) Thousands of Canadian residents who were born in the U.S. were taken by surprise this summer when the U.S. Internal Revenue Service (IRS) announced it would be taking serious action against non-resident U.S. citizens who haven’t filed their American tax returns. U.S. income taxes are based on citizenship so thousands of Canadians with dual citizenship have to file several years worth of back returns, even when they haven’t lived or worked in the U.S. for decades. “
Dumping on Newt? Hardly
My Christmas Eve post made its way to Townhall, thanks to Just Me, who passed it on to Daniel J. Mitchel of the Cato Institute. A certain Pamela reacted: “Did okay UNTIL you got to the dump on Newt.” She was reacting to the words that Newt Gingrich said in the post, explaining why he supported the nabbing of Santa Claus in a foreign country: Continue reading
Stop Citizenship-Based Taxation – Repeal FATCA
This is a repost from RenounceUSCitizenship.
“U.S. citizenship-based taxation is unique in the world and recent related actions undertaken by the IRS and Congress are literally destroying the community of Americans residing overseas and will consequently do irreparable damage to U.S. competitiveness in world markets.”