Many people assume that the US and Canadian tax systems for
individuals are similar. Not true. There are some important
differences. Accordingly, the purpose of this article is to point
out some of these important differences that can cause problems for
the uninformed. By no means is this article intended to be
exhaustive... simply informative.
1. How individuals are taxed
The US is one of the only countries in the world that taxes on a
citizenship basis. If you are a US citizen or a US "green
card" holder, your income is taxed on a worldwide basis
pursuant to US law no matter where you reside. Many people are not
even aware that they are a US citizen. This issue is a complex
immigration matter and often will require a US immigration
lawyer's assistance.
