Information & Ethics committee  That is true, but I must repeat that the difficulty was much more related to the process. If the process had involved all parliamentarians, we would probably not be here today discussing FATCA.

Economic Action Plan 2014 Act, No. 1   information. There are two places in this bill where Canadians’ privacy is attacked. To begin, my colleague has just talked about FATCA, and that is indeed the first element. The second element is the sharing of information between the Canada Revenue Agency and the police. We will start

Economic Action Plan 2014 Act, No. 1  Mr. Speaker, he actually just said it. He said that, in fact, earnings on these matching grants will be considered taxable income in the U.S., and he is right. He spoke of an exemption. He is half right. There is an exemption for Canadian banks under FATCA

Economic Action Plan 2014 Act, No. 1  Mr. Speaker, I have a question on Part 5 of Bill C-31, specifically on the issue of FATCA and its application to registered savings plans, RRSPs, registered education savings plans, and registered disability savings plans. Those plans have matching grants provided

Finance committee   to group all my remarks for the next three clauses. I will put all my remarks on the record now, and I will not be making extensive remarks for the next three clauses. This legislation regarding the Conservative government's FATCA deal with the United States should not be part

Economic Action Plan 2014 Act, No. 1   of Commerce. They actually questioned the chamber's true motives and suggested it was just self-interested lawyers who wanted to maximize fees, not employers who wanted to grow the economy and hire more Canadians. There has been a lot of discussion on FATCA. Members of the business

Economic Action Plan 2014 Act, No. 1   me get to my question, which deals with FATCA. As we know, under FATCA, Canadian banks must report to the IRS the accounts held by clients who happen to have U.S. citizenship. In Canada there are about a million of them. Otherwise they face the prospect of a 30% withholding tax

Finance committee  . We have a sound system of taxation that is open and transparent. I agree with what you said earlier. We ought to have been able to leverage on these facts and our historic relationship with the U.S. to negotiate some exceptions. We were not targeted by FATCA, but we were caught

Finance committee  Thank you very much. Mr. Russell, Ian, it's good to have you back before the committee. In a news release responding to FATCA, your organization suggested that registered savings accounts like RESPs and RDSPs are exempt from the scope of FATCA. These accounts are deemed non

Finance committee  Minister, yesterday you told the House that we obtained a number of concessions, including exempting certain accounts such as RRSPs, RDSPs, and TFSAs from FATCA reporting. Now, this is only half the story. These exemptions apply to Canadian banks and their obligations

Points of Order   information exchange agreement implementation act, legislation implementing Canadian legislation under U.S. legislation known as FATCA. I am not rising to debate the merits of FATCA, as that would not be a proper use of a point of order. Instead, I rise to seek your ruling as to whether

Economic Action Plan 2014 Act, No. 1  Mr. Speaker, the hon. member is quite right. The bill's response to FATCA raises obvious concerns about privacy and sovereignty. There was not the kind of consultations that could have avoided those concerns. This is an element in Bill C-31 that attempts to shield Canadian

Economic Action Plan 2014 Act, No. 1  Mr. Speaker, first, let us start with the last point. The member mentioned FATCA and the information exchange with the Americans. He did say “information exchange”, but no provision is made for any exchange in the agreement that was signed. The Canada Revenue Agency will give

Economic Action Plan 2014 Act, No. 1  . There is even no comparison. My colleague from Prince Edward Island is reminding me of balanced budgets and paid-down debt and cut taxes. Those were the good old days. In terms of FATCA, I can say absolutely that when the minister appeared before the committee he did not even know how many

Economic Action Plan 2014 Act, No. 1   to ignore the challenges faced by veterans in Canada, continues to show contempt for veterans. The bill, through the FATCA provisions, makes the CRA effectively the tax collector for the IRS, and continues to demonstrate disrespect for Parliament and democracy by putting all