Monthly Archives: April 2014

Allison Christians #FATCA presentation – March 16, 2014

Christians-2014-Fatca-basics

On March 16, 2014 Professor Allison Christians of the McGill Law School gave a presentation – “FATCA For Humans”. This was an event which was NOT for law students, NOT for lawyers, NOT for academics, but was for the community of those Canadians who might be affected by FATCA. Her presentation was excellent. The session itself was described as follows:
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Could the British Commonwealth lead a #FATCA free world?

Sorry – the video has been temporarily removed.
 
The interview referenced in the above tweet features the Honourable Sinclair Stevens and Archbiship Dorian Baxter (Leader and President of the Progressive Canadian Party respectively). It took place on April 14, 2014.
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#FATCA is a US tax on the economy of country where "US persons" reside


 


Nice to see FATCA getting some attention in the Canadian media. The Edmonton Journal sent a reporter to the information session which took place in Edmonton on Easter Sunday – April 20,  2014. The article included:

EDMONTON – A little-known U.S. law taking effect in July is worrying American expats, dual citizens living in Canada and Canadians concerned about their privacy.
The controversial Foreign Account Tax Compliance Act (FATCA) — which the Canadian government agreed to in February — requires banks around the world to collect detailed citizenship, residency and financial information about their clients.
Under an intergovernmental agreement Canada signed, financial institutions must pass any information about their clients’ U.S. connections to the Canada Revenue Agency, which will transmit it to the U.S. Internal Revenue Service.
A couple of dozen people, including dual citizens and U.S. expats, attended an information session in Edmonton on Sunday about the sharing pact.

 
 
 

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The legal status of "citizen" is different from the reality of "citizenship"


Once upon a time, so very long ago, in a not so far off land, I was beginning my first year of University. During the “orientation week” I listened to a “Welcoming speech” from the President of this particular institution. The man was a “living legend”. But, what I remember was the manner in which he was proudly introduced to the freshman class.
His introduction included the following description:
“I would like to introduce to you _________________
A man who was an American by birth and a Canadian by choice
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The oath of alligiance as a requirement of citizenship


The above tweet references an interesting article about the relationship between the oath of allegiance to the Queen and Canadian citizenship. It raises the questions of:
1. Does an oath of allegiance matter at all?
2. If so, to whom or what should the oath of allegiance be?
Interestingly, under S. 349 of the U.S. Immigration and Nationality Act, an Oath of Allegiance to a non-U.S. sovereign is an expatriating act.
The article includes:
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Once upon a time, before #FATCA people wanted US citizenship


Interesting article by Patrick Cain of Global News – How To Get Rid Of An Unwanted U.S. Citizenship. This article is significant for two reasons:
1. The very fact that it was written at all – America’s practice of taxing residents of other countries is starting to get out;
2. Non-U.S. citizens may be starting to get interested in this issue.
The article includes:
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Report for #Americansabroad: Solving problems of US citizenship


The above tweet references the synopsis of a “Solving the problems of U.S. citizenship” presentation that took place in London, Ontario on February 8, 2014.
It includes:
CITIZENSHIP:

John first gave an overview of US citizenship laws, tax laws, renunciation and relinquishment and many changes that have taken place over decades.
People have many differing circumstances and each one is unique. Because of the complexities, John stressed:
“The bottom line is you have to check the law at the time the act took place.”

 
 
 

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