BREAKING NEWS: Cons Hiding FATCA Law in Budget Act!!!!

The Cons continue their sneaky games. They have hidden the law to enable FATCA and the IGA in the 375 page omnibus Budget Implementation Act 2014..

The enabling law begins on page 72 (Clause 99). The IGA begins on page 313.

A source tells me it is possible the FATCA legislation could pass by late May or June.

So, now we know what Finance Canada did with all of our submissions.  Nothing.

UPDATE Saturday, March 29, 2014: Stephen Kish and Lynne Swanson remain in contact with Joe Arvay, including this weekend.   He continues working on our case and has assured us that he wants to get this right for us.

One more lawyer told us this week that Joe is the best Charter lawyer in the country. We respect that view.

We understand that people are anxious, especially with the omnibus move by the government yesterday.However, we encourage you to be patient.

Mr. Arvay hopes to have the full legal opinion in April, but there is a possibility it could be later than that. As we mentioned in our fundraising through C3f, we will provide you with what information we can while protecting our case to the best of our abilities.

19 thoughts on “BREAKING NEWS: Cons Hiding FATCA Law in Budget Act!!!!

  1. Lynne Swanson

    The NDP is again calling for the removal of FATCA from the omnibus bill.

    http://www.ndp.ca/news/conservatives-must-remove-fatca-budget-bill?utm_medium=twitter&utm_source=twitterfeed

    “Despite broad opposition, the Conservatives are charging ahead with the implementation of this agreement,” said NDP National Revenue Critic Murray Rankin (Victoria).  “Serious concerns remain about the potential violation of privacy and constitutional rights, as well as unknown costs to Canadians.”

    And:

    “How can the Conservatives justify burying this agreement – that could negatively affect 1 million people and that has nothing to do with the budget – inside a 359-page omnibus bill,” said NDP Finance Critic Nathan Cullen (Skeena—Bulkley Valley).”There’s no excuse. FATCA must be removed from the budget so it can be properly scrutinized.”

    Reply
  2. Blaze Post author

    Tim is always a fabulous source of information and resources.  He has provided a link to yesterday’s Hansard and has drawn attention to some key anti-FATCA arguments.

    From Peter Julian, House Leader of the Opposition NDP

    Mr. Speaker, I find it passing strange that the government House leader stood up and gave a speech, one of the few from the government side, and then promptly shut down debate for most of the government and most of the opposition members by putting in place time allocation measures, which means that most Conservatives and most opposition members will not have an opportunity to speak on the bill.

        We might ask why, when it is a Conservative budget bill, the Conservatives would want to shut down debate on it. Here is one of the reasons: the foreign account tax compliance act, which is something that has been protested by a million Canadians of American origin in this country, Canadians upon whom penalties are being imposed unilaterally by the IRS.

        The Conservatives said that they would stand up against this kind of unilateral action by the American government. In fact, I went to see the American ambassador myself, along with a number of NDP MPs, and we advocated strongly for those one million Canadians.

        This Conservative government has sold them out. Basically it is shipping that information to the United States, even though there are constitutional issues and privacy issues.

        My question to the hon. government House leader is simply this: is that why the Conservatives want to shut down debate? Is it because they are afraid of those one million Canadians finding out that they were sold out on FATCA?
    From Mike Sullivan (NDP)

    One of the things that is most frightening about this budget implementation bill is the attachment to FATCA. For those who do not know FATCA, it is the way that the U.S. government is going to tax some Canadian citizens, about a million of them. Some of them are accidental Canadian citizens, who have never lived in the United States in their lives. They were born in Canada, lived in Canada all their lives, and now are being told that they are somehow American citizens because of their parents.

        The government has in this bill suggested that it will now be all right, without notice to the individuals, for the banks to give information about the RRSPs, RDSPs, RESPs, and other assets that individuals have, to CRA, for the purpose of giving that information to another country. One assumes that the reason they are giving that information is so that somebody can come and take that money out of their bank accounts.

        This is outrageous. We are a sovereign nation. Canada is a country unto itself. The ability of this country to protect its citizens should include the ability against another country coming after those citizens’ money. I am talking about Canadian citizens here, not persons who are living in the United States and who are American citizens. Let the U.S. government come after them, but not Canadian citizens. We should not be assisting another government to manufacture a reason to come into a Canadian citizen’s bank and take that money. That is not something we should be doing, and it should not be in this budget implementation bill.

        If we need to have that discussion, let us have that discussion, but let us not do it in a budget implementation

    bill.

    They are strong comments standing up for Canada and Canadians. I am concerned some of Mike Sullivan’s comments are misleading or inaccurate–i.e. RRSPs, RDSPs, and RESPs are not reportable under FATCA and neither FATCA nor the IGA gives the IRS or CRA the ability to take money out of our bank accounts.
    Reply

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