The Conservative budget for 2015 Supplementary Information contains an Update on the Automatic Exchange of Information for Tax Purposes including:
Under the new standard, foreign tax authorities will provide information to the Canada Revenue Agency relating to financial accounts in their jurisdictions held by Canadian residents. The Canada Revenue Agency will, on a reciprocal basis, provide corresponding information to the foreign tax authorities on accounts in Canada held by residents of their jurisdictions. In order for the Canada Revenue Agency to obtain the information to be exchanged, the common reporting standard will require financial institutions in Canada to implement due diligence procedures to identify accounts held by non-residents and report certain information relating to these accounts to the Agency. It will not require reporting on accounts held by residents of Canada with foreign citizenship. The standard includes important safeguards to protect taxpayer confidentiality and ensure that the exchanged information is used only by tax authorities and only for tax purposes.
Note the statement:
It will not require reporting on accounts held by residents of Canada with foreign citizenship.
Unfortunately I don’t think that statement includes us–but I would love to be wrong about that.
Thanks to Tim for this find. Stephen has sent it to Joe Arvay.
National Post has published a Scorecard of the Harper Government’s wins and losses at the Supreme Court of Canada.
To sum it up in one word for Harper:
Losses for Harper: Mandatory Sentences for Gun Crimes, Assisted Suicide, Prostitution, Aboriginal title, Time-Served Sentencing, Senate Reforn, Supreme Court Nominee.
Wins for Harper: Terrorism-Related Security Certificates, Destruction of Gun Registry Data.
There are two others that are not mentioned here:
Loss for Harper: Mounties’ right to unionize.
Win for Harper: Cell phone searches upon arrest.
I may have missed some. If others add some in comments, I will include them here.
Has the government learned from these? Nope.
They are fighting a disabled aboriginal mother struggling for services for her severely disabled teenage son, disabled veterans, revocation of citizenship and deportation of Canadian citizens, expat Canadian citizens, sick new moms, women wearing the niqab during citizenship oath and us.
I think Harper should also be prepared for a constitutional challenge of Bill C51. There are likely many others we do not even know about.
Of course, the government is spending their access to unlimited taxpayer dollars fighting these issues in the courts.
That is why we must be steadfast in our resolve to continue to fight back by standing up–and donating to ADCS,
From an anonymous donor come the top ten reasons NOT to donate to ADCS lawsuit
The Top 10 List To NOT Donate to the ADCS-ADSC.ca lawsuit:
10. You don’t like Canadian citizens of U.S. origin..
9. You want to help tax compliance vultures become wealthy.
8. In Congress you trust and Congress has spoken.
7. You are a shareholder in one of the big Canadian banks.
6. You are a shareholder in all the Canadian banks.
5. FATCA will give me grounds to divorce my U.S. spouse.
4. You believe in the Obama administration instead of believing in freedom and justice.
3. You believe that U.S. law should be imposed on Canada.
2. You are pretending to be a Canadian but are really a member of “Homelanders Abroad”.
and the NUMBER 1 reason to NOT donate is …
1. You believe that FATCA should be the Supreme Law of Canada.
Do NOT let American law become the Supreme Law of Canada. Donate now! Donate often. Donate as much as you can.
We did it! Just as promised by John Richardson our submission to the Senate Finance Committee is signed, sealed and delivered….Remember this? :
I also made it clear that Dr. Kish and I would be taking the initiative to “educate” the Committee about:
– what “citizenship taxation” really is; and
– the true effects that it has on “Americans” (recognizing that many of you do NOT consider yourselves to be U.S. citizens) in Canada and elsewhere.
I am happy to report to you that on February 14, 2015 the videos were made as planned.
I am happy to report that on April 9, 2014 Dr. Kish and I met with representatives of the Senate Finance Committee and had a “productive discussion”.
I am happy to report that, today, April 15, 2015 our submission to the Senate Finance Committee (consisting of a total of 7 separate submissions on various topics) has been delivered. One of the submissions was the text of the “Human Rights complaint to the United Nations“. We acknowledge the tremendous work that went into the creation and submission of the complaint.
We encourage you to look at our complete “Folder of Submissions” as follows:
I want to remind you that this is going to be a “slow process”. Be patient. Keep yourselves focused on the “long term” goal. The key is to remain patient and focused.
For all who submitted comments to be included, please see here.
Thank you so much for all who took the time to send in your letters & comments in support of this project. Please spend time and explore all seven of the submissions as each is a very important component of demonstrating to the US government how perverse and discriminatory U.S. Tax policy is, not only against U.S. Persons, but to every country and person who is connected to one. We need residence-based taxation. We want the ability to make use of our tax-deferred savings vehicles in our countries of choice. We deserve the right to have our bank accounts free from the prying eyes of FinCen. We demand the recognition that we are not tax cheats and traitors. We insist that the privacy rights of our “alien” spouses and children be respected. For those who cannot act on their own behalf, we must have the ability to make choices free of imposed US citizenship be it from immigration or tax status.
It is time. The U.S.must start living up to its claim of being the land of freedom and opportunity. It must address its own areas of human rights violations and act in the best interests of all. We will not be satisfied nor stop until we receive exactly that.
Born in USA? Have You Received the FATCA Letter?
Are you now or have you ever been an American citizen is a question that can now terrify people.
Were you born in the United States? Is one of your parents a U.S. citizen? Do you have a U.S. address or Green Card? Do you spend winters or substantial time in U.S.?
Are you just learning American Internal Revenue Service (IRS) wants you and your financial records? Welcome to your OMG moment shared by one million Canadians and their families.
On Canada Day, July 1, 2014, Canada surrendered Canadian citizens, residents, laws, constitution and sovereignty to a foreign bully under the American Foreign Account Tax Compliance Act (FATCA) mandating Canadian financial institutions to seek out the financial records of Canadians born in the U.S. or with some other U.S. connection for reporting to IRS with Canada Revenue Agency as an intermediary.
Have you received the FATCA letter yet? Be prepared if you do or if lawyers or accountants try to terrorize you into filing tax returns with the IRS.
Learn from Toronto lawyer John Richardson how FATCA affects you and what this means for Canada and all Canadians. Find out what your rights are as a Canadian citizen and resident—and what your Canadian government surrendered to the Americans in an unprecedented law that overrides all Canadian laws for a foreign bully..
Know your options before you do anything.
Have You Received the FATCA Letter interactive information session will be held Thursday April 23 in the Martha Bishop Room at Landon Branch Library, 167 Wortley Road from 6:00 to 8:00 p.m. $20 per person or $40 for a family of four. No pre-registration.