Leaving Canada? Here’s What The CRA Wants You To Know
What tax residency, departure tax, and cutting ties really mean when you move abroad.
- Estate Planning
- Business Sale
- Corporate Reorganization
- Trust Planning
- Family Trust
- Succession Planning
- CRA Audit
- CRA Powers
- Business Owners
- Founders & Entrepreneurs
- Partnership
- Sale-Readiness
- Cross-Border
- Dual Residency
- Wills & Estates
- Legal Perspective
Show Notes
In this episode, we discuss how leaving Canada isn't just a lifestyle decision – it's a tax event. And in the CRA's eyes, you don't become a non-resident just because you move your belongings and bought a one-way ticket.
We break down what it actually means to sever Canadian tax residency, how the CRA evaluates your ties, and why the timing and structure of your move can result in – or save you from – a massive tax bill.
Through Real Client Scenarios, We Explain:
• Why you can live abroad and still be considered a Canadian resident
• How primary and secondary residential ties determine your status
• What departure tax is – and which assets are caught
• Why selling a business before vs. after emigrating can change your outcome by millions
• What steps to take before leaving if you want CRA to accept non-residency
• The forms and filings most people overlook
• How to avoid double-taxation, compliance issues, and residency disputes
This Episode Is Essential To View For:
✓ Canadian planning to move abroad permanently or long-term
✓ Business owners, investors, and high net-worth individuals leaving Canada
✓ People keeping Canadian homes, bank accounts, businesses, or family ties after moving
✓ Anyone trying to avoid departure tax, double taxation, or CRA residency dispute before emigrating
Key Topics Covered:
• Residency Rules: Primary vs. Secondary Ties
• When CRA still considers you factually resident
• NR73 Form – when this form should be filed
• What is departure tax (deemed disposition)
• Asset-by-asset planning before leaving
• Canadian Real Estate: Sell, Rent, or Keep?
• Non-resident withholding on rent, dividends, RRSP/RRIF
• Why timing your departure matters
• Business owners: LCGE, business sale timing, AMT, and double taxation
• Common mistakes that lead to audits, reassessments, or residency disputes
Full Transcript
📝 Related Articles
Do You Need A Holding Company In Canada? The 5 Signs
A holding company can save hundreds of thousands in tax – or add needless complexity. Learn the five signs it makes sense, from surplus cash and investments to asset protection and business sales.
The RRSP Trap: Why CRA Takes 54% Of Your RRSP When You Die (And How To Stop It)
A $1 million RRSP can trigger a $540,000 tax bill at death. Learn the little-known strategy that can legally reduce that tax burden and preserve more wealth for your family.
CRA's New Audit Powers — 2026 Update: What's Dropped, What's Still Coming
CRA's New Audit Powers — 2026 Update: What's Dropped, What's Still Coming
Update: the CRA's most-feared new power — compelling answers under oath — was dropped from Bill C-31, and the rest aren't law yet. Here's what's actually proposed (notice of non-compliance, a 10% penalty, stop-the-clock) and what the CRA can already do today.
🎬 More Episodes
SoloDo You Actually Need A Holding Company?
How a holding company can reduce taxes, protect assets, and improve long-term planning for some Canadians – while creating unnecessary cost and complexity for others.
- Holding Company
- Holdco Structure
- LCGE
SoloCRA Takes 54% Of Your RRSP When You Die (Unless You Do This)
How a $1 million RRSP can create a $500,000+ tax bill at death – and the little-known planning strategy that may help families keep far more of their wealth.
- RRSP
- Family Trust
- Beneficiary Designations
SoloYour Family Can Save 12K A Year Through This Tax Strategy
How Canada's 3% prescribed-rate trust strategy can legally shift investment income to children – but new AMT rules may now reduce or even reverse the tax savings.
- Family Trust
- Tax Planning
SoloEstate Planning Explained: Will vs. Trust In Canada
How wills, beneficiary designations, joint ownership, and trusts actually control your assets in Canada – and why many families discover critical estate planning gaps only after a crisis occurs.
- Estate Planning
- Family Trust
- Income Splitting
SoloThe Airbnb Tax Nobody Knows About
How Airbnb income can quietly transform your home into a taxable commercial property – triggering unexpected HST, loss of principal residence treatment, and massive tax exposure on sale.
- Business Owners
- Business Sale
- Legal Perspective
EpisodePoliticians Keep Lying About Tax Cuts
How government headlines hide the fine print—and why your “tax cut” might actually be a retroactive tax hike in disguise.
- Penalties & Interest
- Business Owners
- Founders & Entrepreneurs
Need more than a podcast? Cedar Group handles tax planning, restructuring, and sale-readiness advisory for founders.
CEDARGROUP.CA →