The U.S. Election Hangover: What Canadians Can Expect on the Tax Front from a Trump Presidency

For the first time in 88 years, Americans have elected a Republican President and Republican majorities in both house of congress in this past U.S. election. The election provides an almost unprecedented opportunity to reshape the U.S. tax system.

It would appear as though individual, corporate and estate taxes will likely be slashed. As well, the proposed repeal of Obamacare could lead to the repeal of the noncreditable 3.8% net investment tax which applies to many American expats in Canada.

The article summarizes recent Republican congressional budget proposals and the Trump tax plan to gain some hints as to what may be in store for U.S. citizens in Canada and multinational companies doing business in the U.S.