I am prohibited from investing in legitimate investment funds within Australia, threatened by the United States (PFICs) by the confiscatory tax, and today the Intergovernmental Agreement (IGA) has refused the financial services offered to other Australians with the authorization of Australia; Tax treaties are formal bilateral agreements between two jurisdictions. Australia has tax agreements with more than 40 jurisdictions. A separate agreement, called a totalization agreement, helps U.S. expatriates in Australia not pay social security taxes to both the U.S. and Australian governments. Contributions from expatriates who were made during their stay in Australia can be credited to one of the two payments in the system. The country they pay depends on the length of their life in Australia. Originally, decades ago, the United States did not recognize dual nationalities. That is why people have not revoked their dual national status in the United States. Was there a warning from our government to victims to revoke dual U.S. citizenship before the document was signed? Perhaps, if informed persons are given permission to retain dual nationality status, knowing that some people would be severely disadvantaged by the agreement they knew would happen? Has a warning been given that the document would cost people some 30% of their homes to pay to a foreign government? That the people of SOME wake up with their private apartments, which own much of the foreign ownership they previously thought they owned? The spouses of these people may have wanted to protect their children`s homeland. It is quite difficult to pay for your home for the safety of your children without having taken it from you and your family and without giving it to someone abroad. If the family home is sold to move to another job, and 30% or more EACH MOVE is also due in the past, present or future, isn`t that a lot of food taken from Aussie Kindermund? Only some kids, not most of the others.
No other immigrants, they and their families have the same rights as everyone else. www.smh.com.au/national/us-citizens-renouncing-because-of-tax-laws-affecting-australian-superannuation-20160910-grdb0a.html FATCA IGA: Under the IGA, the United States agreed to provide reciprocal information. Article 10 of the IGA states that the parties will discuss progress in implementing the IGA by December 31, 2016.