Points of Order   years as formally enshrined and much longer than that if one looks at historical practice whereby governments have routinely informed Parliament of international agreements signed and ratified. While I and the Liberal Party of Canada have strong and profound disagreements with FATCA

Finance committee   FATCA, are they subject to federal U.S. taxes?

Finance committee  If they are considered a U.S. person under FATCA, and they don't want to be, what is the appeal process?

Finance committee  Minister, yesterday you told the House that when it comes to U.S. taxes owed by Canadians under FATCA, the CRA will not assist the IRS in collecting U.S. taxes. If this is the case, why does your budget bill include penalties against dual Canada-U.S. citizens who fail

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

Finance committee  Would you agree that the exemption of certain accounts—RRSPs, RDSPs, and TFSAs—from FATCA reporting only applies to Canadian banks but not to the dual citizens?

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   or this concession was not demanded or ultimately attained. Mr. Berg, the government argues that the IGA is the best way to prevent Canadian financial institutions from being subject to FATCA's non-compliance penalties. What is preventing private trusts and private holding companies from being

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  Mr. Hannah, you've just described FATCA as enormously complex. This IGA is effectively a treaty between two governments. Should something so enormously complex be part of an omnibus bill with a couple of hours of study allocated to it?

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

Finance committee  Liberal amendment LIB-3 ensures simply that Canadian law will take precedence over this agreement with the United States regarding FATCA and not the other way around.

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

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

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