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).
Tag Archives: FATCA
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
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.”
FATCA's impact on publicly traded trusts
Petros asks how FATCA will impact publicly traded trusts in Canada which have most of its income from US sources.
FBAR-FATCA-Form 8938 filing requirements circumvent the 4th Amendment and are thus equal to the issuing of a General Warrant
The amount of money that a person has in a bank account is irrelevant to determining tax liability. In order to assess income taxes, the IRS needs only an accounting of the interest, dividends or capital gains that a person has earned as income. Therefore, the filing requirements of FBAR, FATCA and 8938 are unrelated to the need to assess a person’s tax liability. The information, Continue reading
I've only been a Canadian since 28 February and our banks are already relinquishing our sovereignty to the United States
This is from the Canadian Banker’s Association, a flyer to be handed out to customers. All Canadians: this affects you too.
About the Isaac Brock Society
The Isaac Brock Society consists of individuals who are concerned about the treatment by the United States government of US persons who live in Canada and abroad. Continue reading
Singapore fund manager recommends pulling investments out of the United States
FATCA is causing foreign investors to pull their money out of the United States. Don’t take my word for it alone. Today in Singapore reports:
