With regard to recent tax changes by the United States of America that impose retroactive taxes on Canadian dual-citizens who own Canadian corporations with retained earnings: (a) will the amount withdrawn by such individuals for the purpose of paying the new tax imposed by the US be also subject to Canadian income tax; and (b) what specific measures, if any, is the government implementing to ensure that such Canadians are not subject to double-taxation?
In the House of Commons on June 18th, 2018. See this statement in context.