We help clients minimize tax exposure and stay compliant when leaving Canada.
We help clients minimize tax exposure and stay compliant when leaving Canada.
Becoming a non-resident of Canada is a major tax event. On the day you leave, you are generally treated as having sold most of your property at fair market value, which can trigger "departure tax" on accrued gains even though nothing was actually sold. Some property, such as Canadian real estate and RRSPs, is treated differently.
Indus Canada CPA helps you plan before you move: we confirm when your residency actually ends, estimate departure tax, and consider elections to defer payment. We prepare your exit-year return and the required property reporting, and review what happens to your RRSP, TFSA and RESP.
After you leave, we help with ongoing Canadian obligations, including non-resident withholding and section 216 and 217 elections for rental and pension income.
Our team works alongside trusted legal and financial alliance partners to deliver coordinated tax strategy, compliance, and advocacy — so clients move forward with clarity and confidence.
When you emigrate, you are generally deemed to have sold most of your property at fair market value, and the resulting capital gains are taxed in your final Canadian return.
You can keep it and withdraw from it, but contributions made while you are a non-resident attract a penalty tax.
Possibly. Canadian-source income such as rent or pensions can require withholding or a Canadian return, and elections can reduce the tax owing.
Have a Tax Implications of Leaving Canada matter? Book a free 30-minute call to talk it through with our team.
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