Petros asked me put my post from another thread in a new post. Here it is:
I received a letter today from Bob Rae, Interim Leader of the Liberal Party (although letterhead says Liberal Leader—no reference to Interim. Hmmm).
I know Schubert and others are annoyed or ticked off Liberals have not responded to them. I wrote January 25 to the Prime Minister, three Cabinet Ministers and three other elected representatives. Rae’s letter, (dated February 13 and which seems to be personally signed) is the first reply I have received. It’s more partisan than I would like, but Rae is a politician.
I suspect this is a standard form letter on this topic. It does not address RDSPs (sorry Calgary411!), TFSAs or employment pension plans. Rae also refers to “dual citizens” when I was clear in my letter that I, like Canada’s Prime Minister “am Canadian and only a Canadian”, but Americans suddenly think differently.
Here’s the text of Rae’s letter:
I would like to thank you for your letter of January 25, 2012 and for sharing your concerns regarding United Sates Foreign Tax Compliance Act and how this is affecting Canadians.
Liberals believe that the Government of Canada should stand up for honest hard working people who have been caught up by overly complex American tax rules. They are not tax cheats and it is past time for Stephen Harper to stand up for them.
Foreign Affairs Minister John Baird should be asking the United States for amnesty against penalties as the IRS’s Foreign Bank Account Reporting requirements were not adequately communicated to dual citizens living in Canada. In addition, Finance Minister Jim Flaherty should work to amend the Canada-US tax treaty so that the IRS does not tax savings vehicles such as RRSPs and RESPs, and instead recognize them as the tax deferred savings vehicles that they are.
We are also highly concerned that new regulations in the United States will soon force Canadian banks to share personal banking information with the IRS. This raises clear privacy concerns that must be addressed before these regulations take effect in two years time. We hope the Harper government will act to address these concerns instead of caving into American pressure as has been their past practice.
We have raised this issue in Question Period and will continue to press the Conservative government to do the right thing for Canadians.
Thank you for taking the time to write.
The Honourable Bob Rae, P.C., O.C. M.P.