I’m creating this post in hopes that other Canadians will agree that what I have done was a good idea, and will join me in writing to or speaking with their MPs. In the past, dialogue I have had with government representatives has been of the: “Please don’t legislate FATCA” variety, but today I took a different approach. I emailed my Liberal MP, Chandra Arya, and suggested to him that the Liberal government might want to negotiate with USA for a “simpler renunciation” for Canadians who are caught up in the FATCA net, yet are unable to renounce due to a combination of a high renunciation fee (as compared to Canada’s much more reasonable fee) along with the complexities and expenses involved in the attendant need to become US tax and reporting compliant.
Shortly after sending the email to Mr. Arya, he called me. He told me he is familiar with FATCA’s negative effect on innocent Canadians as he has a friend who is going through the renunciation process currently. He seemed very sympathetic with our plight. Mr. Arya also told me that he thought my suggestion for negotiating a “simpler renunciation” for Canadians made sense and said it was something that possibly could be tackled as a multi-country initiative as not only Canadians would benefit by such a proposal. He said he would pursue my suggestion further and get back to me.
What if anything may come of my effort who knows. But I strongly urge others to approach their MP with the same suggestion.