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NEW In-House Counsel | Insurance | Intellectual Property | Immigration | Natural Resources | Real Estate | Tax

Trump’s tax plan may not be good for Canada

Tuesday, May 16, 2017 @ 8:59 AM | By Veronika Chang

On April 26, 2017, the White House announced President Donald Trump’s new tax plan which promises what he says would be one of the biggest tax cuts in American history. He also says it would simplify the tax code. While the plan only outlines core principles, it does promise significant tax cuts, especially for corporations.

Trump’s plan proposes to drastically cut the corporate tax from the top rate of 35 per cent to 15 per cent. Currently, only corporations with taxable income of $50,000 or less...