| | May 2017 | | Trump’s Proposed U.S. Tax Reform and What It Means for Canadians | | Scott Dupuis, CPA, CA, is a tax partner in the Windsor office of Collins Barrow. | | Catherine Rau, CPA, CA, is a tax manager in the Windsor office of Collins Barrow. | | The announcement of the Trump administration’s plan for tax reform has left Canadians concerned regarding the impact of such drastic changes by our neighbour and largest trading partner. Tax reform is one of President Trump’s top priorities, however even with a Republican majority in both the House and the Senate, it is unlikely the proposal will be passed in its current form. At this point, the proposal or tax plan remains just that and the Republicans will likely have some compromising to do in order to obtain the super-majority generally required to formulate agreeable legislation and get it passed. Regardless of the extent of tax reform, there is no question that Canadians will be affected and we should be prepared if and when this occurs. Expanding on our recently published Tax Flash, consider these potential tax impacts. | | | Download your copy here | | | | Collins Barrow periodically publishes Tax Alert for its clients and associates. It is designed to highlight and summarize the continually changing tax and business scene across Canada. While Tax Alert may suggest general planning ideas, we recommend professional advice always be sought before taking specific planning steps. |
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