Tax Rules for U.S. vs. Canadian Citizens

Henry, what I think I heard you say was that if you're a US Citizen, they tax you on worldwide income based on your citizenship, not based on residency. Whereas in Canada, they tax you based on primarily residency, not based on citizenship. If you are a dual citizen, let's say of U.S. and Canada, or a U.S. citizen in some way, and you're working in any country on planet Earth, you have to report and fill in an IRS tax form to indicate, like, worldwide income, and then they're going to tax you accordingly based on IRS rules.

Yes, that is correct. Whereas in Canada, if I'm not in Canada, then I could fall into non residents, or I could be someone who's cut ties, as an example. So there's a little bit of some more broad availabilities when I am holding a Canadian citizenship. In that standpoint.