Bill C-31 received Royal Assent on June 19.  Included in this bill were provisions effectively implementing in Canada the US requirements under FATCA (the Foreign Accounts Tax Compliance Act) requiring the reporting to the IRS by Canadian financial institutions about financial accounts held by US taxpayers in Canada.

David J. Thompson, a tax lawyer in London, Ontario, restricts his practice to tax dispute resolution, including audit assistance, objections and Court appeals.  David can be reached at D.Thompson@Tax-Litigation.ca or 519-914-5340.