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.
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
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