Economic Action Plan 2014 Act, No. 1   through, with a limitation on debate that applies to all of Bill C-31, some potentially devastating changes to Canadians' rights found under something called the FATCA. This Foreign Account Tax Compliance Act is thrown into Bill C-31, and I want to refer to the opinions of legal

Economic Action Plan 2014 Act, No. 1  Mr. Speaker, my hon. colleague is absolutely right. The terms around FATCA are not defined. The intergovernmental agreement, the so-called IGA between the U.S. and Canada, has not been ratified as a treaty by the United States. We are treating it as though we have treaty

Economic Action Plan 2014 Act, No. 1   that the steps we have already taken completely vouchsafe Canadian business and protect Canadian banks. We do not need to push FATCA through, and we certainly should not be pushing it through in an omnibus budget bill. Their recommendation I think is worth reading into the record

Finance committee  ” as a matter of law. There are many ambiguities, many questions here that make it particularly inappropriate, as my friend Murray Rankin has already said, to deal with FATCA in the body of an omnibus budget bill that is being moved rather rapidly through this House. Let me go to just one

Economic Action Plan 2014 Act, No. 1  Mr. Speaker, my hon. colleague started her speech by saying she represented the people of Renfrew—Nipissing—Pembroke and was bringing their concerns to the table. This is a list of the people, and I am sure there are many in her riding, who would be affected by FATCA. It is far

Economic Action Plan 2014 Act, No. 1   something as egregious as the Foreign Account Tax Compliance Act, known as FATCA, as well as changes to the trademark regime, which will hurt Canadian business, as well as changes to the Hazardous Products Act and the WHIMS system are all wrapped up into one piece of legislation. Does

Finance committee   broad and could be interpreted to mean that any inconsistency between this agreement and the provisions of any other law, that the FATCA agreement would supersede any other law. That could include the Privacy Act of Canada. It could include the Charter of Rights and Freedoms. We

Economic Action Plan 2014 Act, No. 1   of the FATCA would require Canadian banks to turn over private information about people who have no idea that they could be considered to have any connection whatsoever to the United States, for tax purposes. This bill, according to many constitutional law experts, would violate

Economic Action Plan 2014 Act, No. 1  , which we know they would not absorb but pass on to consumers. Not only is FATCA discriminatory towards approximately one million Canadians, not only is it likely to waste government resources in fighting off a Supreme Court challenge on its constitutionality, which the federal

Economic Action Plan 2014 Act, No. 1  Mr. Speaker, given that the FATCA buried in Bill C-31 requires that the bank search every single customer record with a fine-tooth comb, does the government have any estimates for what that is going to cost and how much of those costs will be passed on to every bank customer

Finance committee  I think I'll speak to each separately, Mr. Chair, because they do speak to different issues, unlike the last ones that dealt with FATCA more or less at once. This is what I'm proposing to do here, Mr. Chair. At clause 115 on page 97, there's an opportunity to do something

Canada-U.S. Relations   Account Tax Compliance Act, otherwise called FATCA, which is buried in Bill C-31, the current omnibus budget bill. What this Foreign Account Tax Compliance Act does is this. We know that sometimes we call the United States “Uncle Sam”. In this instance, Canada bent over until we said

Extension of Sitting Hours  . We spent hours discussing bills on which everyone agreed, whereas there had been short shrift given to things like FATCA, on which both my hon. colleague and I want to run back to the finance committee to try to get a proper result there, an omnibus bill on which we know

Economic Action Plan 2014 Act, No. 1   and to the workplace hazardous chemicals regime; and substantial and devastating and anti-constitutional provisions under the Foreign Accounts Tax Compliance Act, known as FATCA. I would ask him if he would not be willing, within his own caucus on that side, to argue against the use

Economic Action Plan 2014 Act, No. 1  Mr. Speaker, I am so grateful that we are actually having a conversation and talking about this issue. The reality of the FATCA that the current administration has accepted is that it does nothing for reciprocal exchange of tax information. It is non-reciprocal