As we approach another September 30th, the ATO is surely preparing their next data dump for the IRS. As we wait to see how much of our private financial data has been shared with a foreign nation, I thought it would be useful to find out how FATCA has affected normal Australians. I have put together a short survey. Please share it with your Australian-resident friends – whether or not they are US-tainted. Banks are asking everyone whether they’re American, not just people, like me, who can’t get rid of their accent!
Results here: http://fixthetaxtreaty.org/fatca-survey-results/
In addition to taking the above survey, you might also want to explain how FATCA (etc.) has affected you in a significant way by providing testimony at the upcoming U.S. Congressional hearing on FATCA in Washington D.C. The focus will be on FATCA, but is likely to include laws that FATCA enforces. It is probably unlikely that anyone living in Australia would be able to attend the DC hearing (the date has not yet been worked out) but it might be possible to submit written testimony focused on the significant harm caused to individuals and families by FATCA and the laws enforced by FATCA.
Here is my post which provides some minimal details and contact info:
http://isaacbrocksociety.ca/2016/09/15/witnesses-sought-for-u-s-congressional-hearing-on-fatca-repeal/
Vote for switch to resident based taxation and repeal of FATCA in the 30 top discussions during the presidential election :
https://presidentialopenquestions.com/questions/6739/vote/
ABC and CNN moderators agreed to consider the Top 30 questions voted up on this site!
Update on FATCA trust account requirements
https://www.lawsociety.org.nz/news-and-communications/news/update-on-fatca-trust-account-requirements
http://www.forbes.com/sites/robertwood/2016/10/24/irs-offshore-account-collections-top-10-billion-fatca-hunt-continues/#25954e73711a
IRS Warns Offshore Account Holders: Disclose Before It’s Too Late
http://www.forbes.com/sites/robertwood/2015/10/19/irs-warns-offshore-account-holders-disclose-before-its-too-late/#2adffd0f4d2a
Beware More FBAR And FATCA Reporting Changes
The due date is June 30 of each year, but next year it changes to April 15
http://www.forbes.com/sites/robertwood/2016/10/19/beware-more-fbar-and-fatca-reporting-changes/#aac67701119a
http://www.forbes.com/sites/robertwood/2016/11/11/more-americans-are-renouncing-citizenship-but-not-over-the-election/#20894dc12788