New tax on Americans working in Canada

U.S. net investment income tax to fund ‘Obamacare’
By Kevyn Nightingale
|Canadian Payroll Reporter|Last Updated: 03/20/2013

Effective Jan. 1, the United States introduced a tax called the Net Investment Income Tax to help fund the Patient Protection and Affordable Care Act (PPACA) — more commonly referred to as “Obamacare.”

This tax is equal to 3.8 per cent of an employee’s investment income if his total earnings are above the following:

• US$250,000 for a married couple filing jointly