I also heard that you have to pay an exit tax when you give up your US Citizenship ( George W Bush ).
2/ Canada has a tax treaty with the US . Income earned in the US and Paid to a Canadian Citizen and Resident is roughly split 50/50.
3/ Its a nightmare for people with any US connections . These new FATCA rules put a ridiculous burden on everyone that has ever had any links to the US . People and banks everywhere are dropping Americans as customers / account holders , just too much intrusive hassle.
4/ This is spilling over into Marriages as well . It used to be everyone wanted to marry an American ..... Times have changed , now there appears to be too much baggage to bother , because Uncle Sam is waiting at the alter to see what the new spouse has in the way of taxable assets (originating or still held within the other country .
Now I`m not sure of the exact rules and regulations (they are constantly evolving) but that seems to be the talk on the street .
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