Stephen Kish and Lynne Swanson have reviewed the legal opinion provided by constitutional lawyer Mr. Joseph Arvay on the constitutionality of the pending legislation “Canada-United States Enhanced Tax Information Exchange Agreement Implementation Act”. This act is aimed at implementing the “Intergovernmental Agreement” (IGA) designed to make the “Foreign Account Tax Compliant Act” (FATCA) operative in Canada.
The opinion has also been discussed with Mr. John Richardson, a Toronto lawyer, with whom we now have solicitor-client privilege, and who will be part of Dr. Kish’s and Ms. Swanson’s “litigation committee”.
The lengthy opinion provides in detail the pros and cons of the arguments, and possible outcomes.
There are good arguments that the proposed legislation infringes at a minimum on constitutionally protected rights and freedoms. Nevertheless, there are also arguments that the Government of Canada may employ to counter our position and, we emphasize, there is no certainty that litigation will be successful. Further, any litigation will be hard fought and very expensive. This litigation is not for the faint of heart.
Given the opinion of Mr. Arvay and discussion with Mr. Richardson, we advise that it is our intention to take all necessary steps to commence litigation against the Government of Canada once the IGA implementation legislation is enacted. Moreover, the nature and impact of the unprecedented legislation on all persons in Canada and those throughout the world who will be impacted by FATCA demands that we exercise this option that is in the public interest.
Very significant fundraising will be required.
Cross posted at Isaac Brock Society
Before you rush to an accountant or lawyer in a panic, if you are close to any of these locations, check out one of these information sessions on Solving the Problem of U.S. Citizenship:
ADMISSION FEE $20 UNLESS OTHERWISE NOTED
- Toronto ON, Fri, May 2, 4:30-5:30pm, Carr Hall,100 St. Joseph St.,M5S 2C4 CONFIRMED Free admission for those attending the ACA conference Fri, May 2, 8:30am-4pm at University of Toronto – St. Michael’s College, Toronto, Canada
Who: John Richardson
$20 donation to offset costs-payable at the door
February 6, 2014 Update: Yesterday, Finance Canada announced an IGA with the United States that may change some of the information presented here. We will update as more information becomes available and we better understand what it may mean.
Perhaps you’ve just read one of the sensationalist IRS-propaganda articles in the media that says every person born on US soil is a US citizen and must file income tax reports to the US, and are at risk for huge penalties. Perhaps you heard about this situation through another person who has a US connection. Either way, you’re probably confused about what this means and what you need to do about it. Continue reading
I was reading through the Fraser Institute report from January 2014 “Canada’s Catch-22: The State of Canada-US Relations in 2014″
The report mentions several disputes and barriers, such as the Keystone pipeline, the softwood lumber dispute, and intellectual property rights, but there is not a single mention of FATCA.
According to their website “The Fraser Institute measures and studies the impact of markets and government interventions on the welfare of individuals” (emphasis is mine)
Can anyone tell me why and how they can just ignore the impact of FATCA?
By Arthur Cockfield and Allison Christians in today`s Globe and Mail: How the U.S. Pulled Off the Great Canadian Privacy Giveaway.
For the first time in Canadian history, our federal government is preparing to provide a foreign government with sensitive personal financial information about hundreds of thousands of Canadians. It is doing so to stave off threatened economic sanctions, and is getting nothing in return.
Their article tells the “`sad saga“ of how the US managed to pull it off and makes a suggestion for an amendment to the enabling law that would allow reporting only on U.S. residents.
Breaking News: Jim Flaherty is Dead.
BREAKING: Former finance minister Jim Flaherty has passed away. More to come.