Maple Sandbox Invited to Finance Committee on #FATCA #IGA in #C31

I just received the official invitation to appear before the Finance Committee as part of a panel. I will try to find out who the other panel members will be.  I am also trying to determine if I am able to participate via video or if I need to be in Ottawa in person.

Dear Ms. Swanson,

The House of Commons Standing Committee on Finance would like to invite the Maple Sandbox Blog to appear before the Committee, on May 13, 2014, from 5:00 to 6:30 p.m. (Ottawa time) in relation to its study of Part 5 of Bill C-31 entitled An Act to implement certain provisions of the budget tabled in Parliament on February 11, 2014 and other measures.

Your participation, as part of a panel, consists of an opening statement of up to five minutes, followed by rounds of questions from the members of the Committee. You are invited to review the attached document entitled Guidelines for Witnesses prior to your appearance before the Committee. You could, if you choose to do so, submit a 5-page brief to the Committee. It will be translated as soon as possible, distributed to the members and published on the Finance Committee Website.

 

Please confirm your presence by responding to this email, by May 6 at noon. Upon confirmation, we will provide you with further details regarding your appearance.

 

Here is the link to Bill C-31

http://www.parl.gc.ca/HousePublications/Publication.aspx?Language=E&Mode=1&DocId=6495200

 

32 thoughts on “Maple Sandbox Invited to Finance Committee on #FATCA #IGA in #C31

  1. Room OK for 4:30.  Native Canadian is picking me up early because there is road construction directly in front of the site for video.

  2. CHANGE FOR TODAY:  I just received a call from the Clerk of the Finance Committee advising both panels for today have been changed from 90 minutes each to 60 minutes each.

    The first panel will be 3:30 to 4:30.  The second panel will be 4:30 to 5:30.

    They are trying to arrange for the space for my video conferencing to be available earlier.  When I spoke with the site last week, it was not available until 4:45.   Finance Canada is trying to work something out so I can participate for the full hour.

    The reason for the change is the House of Commons is meeting tonight.

     

     

     

  3. Today’s the day and I woke up with the beginning of a cold–sore throat, stuffy nose and plugged ears.

    I will not be scared off by a common cold or the FATCA Monster.

    I just hope my voice holds.  I often get laryngitis when I have a cold.  Then again, I went to a job interview 34 years ago  squawking like a chicken from a cold.  I was hired.  That launched my career in Human Resources.

     

     

     

     

     

  4. Lynne- we all know you will do well.

    CPAC will very likely air the meeting, although probably not live. I suggest you check their schedule on the 12th, 13th or 14th. http://www.cpac.ca

    If you have a PVR, it would be helpful to record the meeting.

    I think CPAC is only available in SD, not HD, and certainly not 3D. Actually I wouldn’t want the FATCA monster coming out of the screen at me. Now THAT would be a horror movie.

  5. This is my first Mother’s Day without my mother.

    Mom inherited her feisty, stubborn and independent genes from her mother and passed them on directly to her two daughters.  I will do my best to be feisty and strong on behalf of one million Canadians in my five minutes before Finance Committee on Tuesday.

    Cherish your mother and your family.

  6. Tricia/Noble Dreamer has posted Notice of Meeting of the Standing Committee of Finance for Tuesday, May 13 at Brock.

    This information contains times and names of panel members. There will be one panel from 3:30 p.m. to 5:00 p.m. with Allison Christians, Roy Berg, a Director from Financial Sector Policy and a representative from Investment Industry Association of Canada.

    The second panel will be from 5:00 p.m. to 6:30 p.m. with Arthur Cockfield, the President of Portfolio Management Association of Canada, a Canadian-American tax lawyer based in New York City and me.

    There is one name missing from the list that I thought would be there. As recently as Tuesday, Murray Rankin’s office was trying to get that person on the panel.

    Based on who is on the panels, it is my intent to focus my five minutes on being the voice of one million Canadians.

    The information says this meeting will be televised, but I don’t know where it will be televised. If anyone can find out, that would be great. it will also be on ParlVu.

  7. How can my elected officials allow another country to “tag” me and my family to be deprived of our constitutional rights?…That is a question that I should never have to ask myself, as a Canadian.
    Merci Lynne, tu as toute notre confiance et admiration!

  8. Just posted: May 6, 2014 Must read.
    ‘FATCA and the Erosion of Canadian Taxpayer Privacy’

    Arthur J. Cockfield

    Queen’s University – Faculty of Law

    April 1, 2014
    Report to the Office of the Privacy Commissioner of Canada, April 2014

    Abstract:
    “In 2010, the United States enacted a tax reform known as the Foreign Account Tax Compliance Act (FATCA). Under FATCA, all non-U.S. financial institutions, including Canadian banks, must review their records to determine if any accounts are owned by “U.S. persons,” which include U.S. citizens residing abroad and individuals with significant social and/or economic ties with the United States. The United States threatened to economically sanction any foreign country that did cooperate with the new regime. Accordingly, Canada has agreed to implement FATCA via an intergovernmental agreement (IGA) with the United States; at this writing the implementing legislation, Bill C-31, is before Parliament. This report discusses how FATCA and the IGA unduly harm the privacy interests and rights of Canadians in part because detailed financial information concerning hundreds of thousands of Canadians would be transferred to a foreign government for the first time. Canada is getting nothing in return for this privacy giveaway other than the relief of the threatened economic sanctions. The Canadian government should not implement the IGA until these privacy concerns are addressed.”

  9. Tim: I just watched it again. It was Mike Kelly. He said The “fact is FATCA is a U.S. law” He went on to say when a group were in Washington meeting with  U.S. Treasury, the “message to us was clearly Congress has spoken.” (around 46:35) Note Gerald Keddy chuckling next to him.

    http://parlvu.parl.gc.ca/Parlvu/TimeBandit/PowerBrowser_SilverLight.aspx?ContentEntityId=11725&EssenceFormatID=480&date=20140506&lang=en&taid=8&tnid=378

    Does anyone know how to get a a transcript of this?

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