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   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  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

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

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

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

Economic Action Plan 2014 Act, No. 1   for the Conservatives but our citizens as well. There is some expertise at the finance committee studying FATCA, but there is also a need to work with other committees. Parliament could be mobilized and engaged more thoroughly if we did not have these kinds of disparate measures lumped together